Localities Offering a 2 BHK House for Rent in Chennai Below 10k

Chennai, known for its staggering performance in IT sector and having a wide base of manufacturing industries, offers budget rental properties. The city that has earned the distinction of being India's second largest exporter of IT, sees the influx of a large number of young professionals every single year. Steady employment generation and affordability are the prime reasons why Chennai is a preferred city for prospective renters. Before you set off for this city, it is important to the average rental prices prevalent over it different localities.

Tenants looking for a 2 BHK house for rent in Chennai in 2-3k monthly budget would find Poonamalle Highway, Guduvancheri, and Sai Nagar can be good options. In 4-5k monthly bracket, the localities worth looking for can be Kolathur, Urapakkam, Padi, Guduvancheri, and Madambakkam. Simialr starting rates are prevalent over Kattupakkam, Koril Pathagai, Koyarmedu, and Perungalathur

 

In the higher price bracket, i.e. 5-8k come well-developed localities including GST Road, Vandalur, Anna Nagar, Avadi, and Madipakkam. A 2 BHK flat for rent in Chennai properties across Perungalathur, Sriperimbudur, Chembarambakaam, Tambaram, and Mudichur is available in the same price bracket. Finally, 8-10k starting monthly rentals are prevalent over Chromepet, Pammal, Porur, Selaiyur, Sholingallur, and Iyyapanthangal.

Search real estate sites and know more about the ongoing rental rates in Chennai. Search and sort properties online and be at the disposal of a multitude of new and resale projects.

Chennai Properties Continue to Maintain Traction in 2014

The city of Chennai managed to give up-to-the-mark performance last year and if the trade pundits are to be believed, the city is expected to fair well this year too. Presence of excellent infrastructure, upcoming metro project, and stronghold over software sector have been the boosting factors for city's property market. Chennai Metro which is suppose to be developed in two phases has placed a positive impact over property rates that have already witnessed a rise of about 10% in the nearby localities.

The upward trend for Chennai properties has been observed in and around areas like GST Road, Porur, and Sriperumbudur. Across these, the total number of inquiries went all the way up. Conversation rates in these localities also witnessed a significant improvement. On the other hand, places like Oragadam and Old Madras Road(OMR) have not seen any major change in number of transactions. The realty market of the city is largely end-user driven, still, there was a good increase in the number of short-term investments in 2013.

In Central Chennai demand for residential spaces outstripped supply. In Central Chennai particularly, the demand market has performed well. Still, there are localities like GST, Oragadam, and OMR where the number of unused inventories is quiet high on account of lack of demand. The overall transactions for flats for sale in Chennai improved last year. 

In South Chennai, traction has been observed in some parts like Thoraipakkam, Perungudi, and Perumbakkam. Over Perumbakkam, a number of mid and high-end realty projects have been launched. Velachery, an area with a strategic location and super-connectivity, has seen price appreciation in last several months. With the construction of several integrated projects , Semnnachery has performed quiet well. Siruseri too has seen a plethora of mid and small segment housing projects going on; the presence of Asia's largest IT Park has awarded it with the commercial and corporate importance. East Coast Road(ECR) is dotted with a number of luxury projects and is witness to a high demand for high-end bungalows.

Makaan.com, is one among the top real estate site which lists all type residential properties in Chennai across variable price range.

Areas to Hunt Single Room Flats for Rent in Chennai Properties

Where would you look for 1 BHK apartments for rent in South Chennai? Well, there are a whole lot of options and make a choice. A tenant looking for a rental apartment must know of the average monthly rentals prevalent over a particular locality. Most parts of South Chennai offer affordable houses on rent, thus catering to the requirements of seekers from low and mid income groups. This blog discusses prominent localities along with their rental rates.

1 BHK flats for rent in Chennai in the southern part of the city offer rentals in 4-6k segment. Thoraipakkam and Palavaram are the budget localities with monthly rent as low as 4k. Strategically located over Old Madras Road, Thoraipakkam is a locality with excellent connectivity to other parts of the city. Thoraipakkam-Pallavaram Road is a connecting link between GST Road and IT corridor.

Medavakkam, a residential suburb of South Chennai offers 1 BHK rental flats with starting price Rs. 6k. The location lies in proximity to International Airport and has seen a spurt of residential apartments owing to its closeness to OMR and GST. Velachery is a residential locality where Chennai properties on rent are available at a convenient price tag of about 8k. The area has witnessed development of IT sector over last one decade. Developing at a good pace, Guduvanchery is a suburb that acts as connecting link to southern and western localities of Chennai.

Other locations worth mentioning are Virugambakkam, T. Nagar, Guduvanchery, and Neelangarai. The average rental range for one room properties lies in 6-8k bracket. The prices mentioned are only starting and the upper rates can be much higher.

To search 1 BHK, 2 BHK and 3 BHK apartments or rent in Chennai, one can look online property portals available.

Price Brackets for 1 BHK and 2 BHK Rent House in Chennai Properties

Are you living in Chennai and looking for a rent house to live? Or are you soon going to shift to this city and would need rental space to reside? For the seekers of 1 and 2 BHK, the city offers many options. Depending upon the requirements and your budgetary constraints, the prospective tenants are the disposal of several choices to make. This blog post is an effort towards letting them know what options they really have.

Let’s first talk of 1 BHK rent house in Chennai. Across its different regions, the prices vary. So, the tenants with different income brackets can expect to find a rental house as per their needs. The highly affordable options are Pladi, Chromepet, OMR (Old Madras Road), ECR, Porur, Kodambaakam. In these localities of the city, the tenants can look for flats in monthly rental range 2k-5k. Thiryvattiyur and Choolaimedu too offer one BHK rental houses up to 5k and above.

In 6-7k monthly brackets, there are quite a few localities across different parts of Chennai for seekers of one bedroom flats on rent. Kelambakkam, Villivakkam, Ambattur, Porur, Kilkattalai, and Thoraipakaam are a few names worth mentioning in this regard. Chennai properties offers rent houses to the tenants who can pay monthly rental in 7-10k brackets. These are T.Nagar, Valsaravakkam, Perungalathur, Medavakkam, Arumbakkam, Iyyappanthangal, Anna Nagar, and Nanganallur. Chetpet and Thiruvanmiyur offer 1 BHK flats with average rental value of 11-12k.

For tenants with requirements for 2 BHK rental homes, Pallakaranai, Kolathur, Perungudi, and Choolaimedu stand among the best options. The expected rental bracket across these localities is 5-8k/month. In 10-15k range fall Medavakkam, Adyar, Neelangarai, and Palavakkam. Over Thoraipakkam, Palavallam, and Indira Nagar, the rates can vary between 15k and 25k.

Localities in Chennai where 2 BHK Rent Houses are Available under 20k

Chennai, India's tier I city, offers too many options to property-hunters who are keen to live on a rental house. If you are a prospective tenants with a budget of monthly rent up to 20 k or less, you are at the disposal of many options. From a cheap locality like Orgadam to the prime location like Arumbakkam, you will find houses that cater to cheap, budget, and luxury homes. Let's peep into the areas where you can find a 2 BHK rent house in 5k-20k bracket.

If you are on the hunt of some two-room budget rent house in Chennai, you can go for Perungudi, Pallakaranai, Iyyppanthangal, Urapakkam, Vandalore, Sithalapakkam can be the best options. The starting rental prices in these areas are in 5-6k segment. Potheri and Anakapathur are other budget locations. For a little higher bracket, i.e. 7-10k bracket, tenants can choose Perungalathur, Cheomepet, Tambatam, Selaiyur, Avadi, Guduvancheri, Maddipakkam, Pallavaram, and Medavakkam. Chroemepet is a part of Tambaram and has a good connectivity. The well-known GST Road passes through it.

Velachery, a prime residential hub of South Chennai, carries the rental rates in 11-20k bracket. The locality is good if you prefer to live in a IT-driven area. And Velachery has a multitude of such companies. Some of the other areas where 2 BHK Chennai properties come in 11-20k rental range are Adyar, Perumbakkam, Tambaram, OMR, Aminjikarai, Padur, Padi, and Sholinganallur. Porur has 3 prominent SEZs and several IT Parks. You will find several tech companies like IBM, Cognizant, iGate, and others. Arumbakkam is yet another prime residential area where several IT companies have forayed. 2 BHK rent houses in Kilpauk and Mehta Nagar fall in the 12-15k segment.

The Rates of Three-Room Independent in Chennai Across Different Localities

There are myriad choices for the buyers of 3 BHK villas or independent houses in Chennai. In different parts of the city, the availability of such real estate spaces varies, and also their price values. We are going to throw light on the prices of such as 3 BHK independent houses across different localities.

Though there is no dearth of 3 BHK apartments in Chennai, independent houses are hard to find. In the central region, Aminjikarai is the main locality where such a property can be purchased. The price range for the same varies between 60 lacs and 1.3 crores. The average per square feet rate (psf) at Aminjikarai ranges between Rs. 3700/- and Rs. 8700/-. Coming to North, a three room independent house is available in localities like Manigadu, Kolathur, Ambattur, and PH Road. While Manigadu and Kolathur offer affordable houses (40 lacs-60 lacs), at Ambattur and PH Road, the rate is pretty much higher: it generally varies between 90 lacs and 1.5 crore.

 

Real estate in Chennai in the western part too has only a few localities where one can find three-room independent house. At Ayapakkam, it is available at around 60 lacs, while at Porur, the rates are flexible: between 70 lacs and 2 crores. South Chennai, on the other hand, has a plethora of areas for the seekers of such houses. In the affordable bracket come localities like Singaperumal, Oragadam, Tambaram-Mudichur Road, Maraimalai, Manimangalam, and Iyapanthangal. Here, one can expect the rates that lie in 20-40 lacs bracket.

In the higher bracket, i.e. 50-85 lacs, come Tambaram, Adambakkam, Kovur, Perumbakkam, and Selaiyur. In most of the the southern region, come the localities where a 3 BHK independent house touches the crore figure. Neelangarai, Kelambakkam, Medvakkam, Thoraipakkam, Santoshpuram, Villivakkam, K.K.Nagar, Mahindra City, and Sholinganallur are a few names in this regard.

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The Available Options in Chennai for a One BHK Rent House

Propensity of IT companies in Chennai has remained a positive factor for the growth of its realty market. It is not only a budget-minded buyer who prefers to live on rental spaces, there is a good number of professionals who arrive here to seek job opportunities. So, Chennai is constantly in need of rental properties, irrespective of the fact how the realty market is faring in a particular year. At present, the Indian economy is in the clutches of inflation as well as economic slump and as a result, the demand for properties is down in dumps. But the demand market for rental houses has not gone down. In this blog, we are going to have a glimpse over some of the good options for a 1 BHK rental house in different localities in Chennai.

Let's us consider a two-room Independent house for our consideration. Though the number of options are too many, yet a 2 BHK rent house in Chennai can be located in certain specific localities only. For the seekers of a rental property with monthly budget in price bracket 5-7k, Pallikaranai and Sithalapakkam are good choices. For 8-10k bracket, the suitable areas are Kundarathar, Kolathai, Medavakkam, Pattabiram, Madambakkam, Ramapuram, Thiruverkadu, Madipakkam, and Mugalivakkam.

 

In the higher bracket, i.e. 11-15k, the 2 BHK rental properties for real estate in Chennai in the form of an independent house are available in Aminjikarai, Mint Street, Korttur, Choolaimedu, Kodambakam, Porur, New Perungalathur, Iyyappanthangal, and Kovilambakkam. Most of these are prime locations and have well-established IT base. For example, Porur, Choolaimedu, and Aminjikarai have a set of software companies. Some of the best tech-giants of the country have opened their bases in these colonies. Accordingly, the Independent houses developed here mostly cater to the well-earning income segments. Most of the properties are top-class that are fully-furnished and are enthused with all the modern amenities.

The Price Tags for a Two-Room House for Rent in Different Regions of Chennai

The tier-1 cities in India like Delhi, Mumbai, Chennai, Hyderabad, and others see a fairly high demand for rental homes. For Chennai, that sees a good number of expatriates from North, the rental properties play a vital role in catering to the high housing demand. The city, like other metros, has variable price brackets applicable in its different parts. The central region, for example, carries high price tags, while the rate is lower at peripheral localities. The amount of rent is directly proportional to the location of the house, its state of furnishing, amenities offered, and employment opportunities. We are going to have a look at the rates for two-room rental apartments in the city.

We start from city center of the city. A house for rent in Chennai in central region can come at a rate anywhere between 12-25k. For prices between the rental range 12-15k(starting rates), options like Koyembedu, Nelson Manickam Road, Choolaimedu, Aminjikarai, Arumbakkam, and Chetpet can be good choices. The localities including Triplicane, P.H. Road, and Shenoy Nagar are pricey: for a 2 BHK apartment on rent, a tenant requires to pay in 18-25k, and even above.

 

Shifting your focus to North,it has some of the high-end localities that have well-developed IT infrastructure and stronghold over corporate sector. At Kolathur, Avadi, Pattabiram, Thirumalla Voil, the monthly rentals are usually below 10k. For a real estate Chennai property that comes at rentals more than that, Mint Street, Anna Nagar, Kilpauk, Korttur, and Mugappair are a few names that fit in.

South Chennai has a plethora of options for the seekers of 2 BHKs. Medavakkam, Oragadam, Kelabakkam, Pallavaram, Guduvancheri, Madambakkam, Porur, Pallikaranai, and Madipakkam are a few names where one can find affordable houses on rent. For the tenants who want a 2 BHK below 10k/month, these can be the perfect choices.

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Rates of Three-Room Houses on Rent in Chennai

Chennai, like many other cosmopolitan cities, has a strong foothold over IT sector. Several premiere real estate developers have ventured into the city with their residential and commercial projects. The presence of infrastructural development and employment opportunities call for high demand for properties. And as far as rental spaces are concerned, they too remain high on demand. The middle-segment buyers and the professional relocated from other cities comprise a big chunk of this demand. Rental houses are mostly affordable and offer a living space to those who don't have a residential property of their own. Let's see what 3 BHK rental apartments cost in different parts of the city.

For the tenants for whom money is a big issue, can look for a house for rent in Chennai in areas like Adyar, Numgambakkam, and Kelmabakkam. The average monthly rentals in these localities can be as low as 4-7k, though houses with higher rates too are available for hiring. In 8-12k range, there are far more options: Ramapuram, Sholinganallur, Velachery, Perungudi, Perumbakkam, Porur, Guduvancheri, Ambattur, Chromepet, and Avadi. Such a rental range is mostly preferred by middle-segment tenants.

 

Mogappair, A. Nagar, Vadapalani, and Tambaram have high price tags. Micro-markets like Saligramam, Kavalur, OMR, Arumbakkam, and Keelkattalai too fall in this category. As most of these are IT-driven societies, the rental rates here can go up to 20-25k, and even above. Then come those araes of Chennai properties that cater to the requirements of the affluent class. Three-bedroom, well furnished houses are readily available in prime localities like T. Nagar, Abhiramauram, Kotturpuram, Mint street, Kottivakam, and K. K. Nagar. The others like Poes Garden, Boat Club, and Akkarai too have heavy rentals: 1-3 lacs!!. Their strategic location, presence of high-end flats, amenities offered, and presence of software industry award them much significance.

Look for a house for rent in Chennai over the premier property portal, Makaan.com. Keep yourself apprised with price trends in different quarters of the year. Buy, sell, and rent residential and commercial properties for real estate Chennai.

Chennai Properties Performing Well in the Current Quarter

The stupendous development that Chennai properties have made in last few years have resulted in marked improvement in realty market of the city. The strong presence of IT sector, along with the fast- pace infrastructural development are the reasons behind the success of Chennai real estate, in terms of demand. In fact, the city is a better performer in real estate, if compared to Delhi and Mumbai. The recession has hit this city too, but not as hard as others. The prospects in 2013 seem to be promising enough.

Several infrastructural projects, a few of which are near to completion, have been floated by the authorities. A number of National Highways and Expressways have sprung up in the city, and this has played a major role in increase in demand for properties as well as appreciation of capital values. The recent nod given by the ministry to the three bridges connecting OMR to ECR has also contributed tremendously to the escalation of rates. The demand for flats for sales in Chennai too has been affected. And people are now seeking properties in the areas surrounding these bridges.

The upcoming airport at Sriperumpudur shall connect the city to national and international destinations. This Rs. 20,000 million project is expected to perform well in gaining the attention of home buyers. Several MRTS projects are in line, along with the Chennai Metro. Being situated on the Golden Quadrilateral, Chennai is now accessible to other important hubs of the country. Such a marked improvement in transportation system is sure to garner good results for Chennai Properties. The demand for both budget as well as luxury properties has seen an escalation in the current quarter. This is a good sign for the real estate in the city. As and when the recession is over, the market shall see a further boom.

Buy, sell, or hire on rent Chennai properties over real estate website, Makaan.com. Search flats for sale in Chennai and other cities over the portal, available in different price brackets.

Chennai Properties Fallen Prey to Rising Inflation

No city in India has left untouched with the inflationary rates. And the real estate too has been struck hard by this boom in prices. Talk of Chennai real estate and they do are stomaching the pain. The residential properties are in exodus here, while the demand does not match up to them. What's the result? Lacs of houses are lying vacant right now. As the economy is bearing the brunt of the falling rupee, people are wavering in their decision to buy a property in the city. Until the inflation changes its demeanor and the prices fall back, at least to their previous values, there is little hope that the demand for properties in the city shall see any swelling.

As per a report from National Housing Bank, an overall decline of 2.3% in the rates of flats for sale in Chennai was recorded in Apr-Jun quarter of 2013. The sharpest decline has been witnessed in peripheral areas of the city: a slow-down by 30-40% clearly shows that inflation and oversupply have played a negative role in falling of rates. The overall sales have plummeted. Such a scenario has left enough scope for negotiation; buyers can they can make a purchase at cut-prices. As the market is hard for developers, they are coming with freebies and other discount offers.

 

Anna Nagar West, a region where demand mainly comes from the elite segment, has seen a decline of about 13% in price rate. At Kilpauk, where per sq. ft rate of a property is a whopping Rs. 11600/-, a depreciation of 3% has brought down the rates a bit. On the same lines, Medavakkam, Kovilambakkam, GST Road, and Thiruvanmiyur are some of the localities where Chennai properties have come down from their original values.

The above trends are not uniform. In spite of the fall in prices, there are still regions where apartments in Chennai have seen an appreciation. Take, for instance, Thoraipakkam: the property rates in this locality, have escalated by 7%. Same is the case with Kelambakkam, Navalur, Pallikaranai, Madipakkam, and Korattur: the real estate rates have increased between 5% and 9%. At other localities like Padur, Selaiyur, Velachery, Ambattur, Chromepet, Mogappair, and OMR too, the trends are on higher side.

Flats for Sale Showing Good Appreciation in Chennai Real Estate

Standing tall on the pedestal of IT and backed with good infrastructure, Chennai properties are faring well in market this year. The prices have got a considerable boost of about 20% over past 12 months. The scenario seems to be promising enough for the coming quarter too. One of the major factors that have contributed well to the rising demand is the development of Outer Ring Road(ORR). It is intended to connect Vandalur and Minjur and is projected to give real estate in Chennai a further step-up. Upon the completion of this 62-km long expressway, the city areas shall get interconnected to the remote villages too. Not only this, the city shall also be hooked up with other other cities like Kolkata and Bangalore.
The prices in the Chennai real estate located centrally carry a high price tag, if compared to the peripheral region. Choolaimedu, Kilpauk, Arumbakkkam, T. Nagar that form part of the Central Chennai, have 2 BHKs lying in 70 lacs-2 crore range. For middle-class and low budget buyers, apartments in Chennai in the north part present themselves as the best option. At Avadi, Ambattur, Thiruvallur, Thirumullaivoyal, and Thirumalla, you can expect 2 BHK apartments within 15-40 lacs. Anna Nagar and Kolathur in North Chennai, on the other hand, are costlier places if compared to the other areas. It is because of the tremendous progress at which these localities have made in terms of IT industry.
In most parts of the cities, the prices have escalated at a good pace. Both northern and central regions have seen a 15% appreciation in the first quarter of 2013. Towards South too, the rates have increased by about 16%. This is really a good scenario for long-term investors who can hope high returns for their money.
Depending upon the location, the price of a flat for sale in Chennai can vary considerably. The areas in south like Velachery, OMR, and Kelambakkam have high prices for flats, thanks to a plethora of IT companies and steady industrialization in these localities. The rate of a 2 BHK flat, occupying an average area of 1000 sq. ft., can cost you anywhere between 50 lacs and 1crore, though cheaper options are also available. Same is the case with Velachery and K.K. Nagar. You can look for cheaper apartments at GST Road, Tambaram, Thoraipakkam, and Padur.
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Chennai Apartments for Sale: Look for the Latest Developments

The real estate scenario in the metropolitan Chennai is showing some interesting trends in 2013. The construction of new roads, buffer-zones, expressways is a clear indication that face of the city is going a change, and that the properties in Chennai is not standing static; it is, in fact, getting the boost from the developments taking place in terms of infrastructure. Let's see how the city's property is evolving this year:

Teynampet, one of the plush and expensive localities of Chennai, houses areas like Poes Road, Nungambakkam, T. Nagar, and Alwarpet. Buyers in these localities mostly come from high-income backgrounds. The presence of educational institutes and opulent hotels make it one of the most sought-after localities by the elite class. Another locality that is famous for its upscale infrastructure is Kodambakkam. The pivot to city's film industry, Kollywood, Kodambakkam offers plush neighborhoods like Porur and Koyambedu. The buyers on the look out for lavish apartments in Chennai can opt for Teynampet and Kodambakkam.

Market trends indicate that the flats for sale in Chennai has seen an enormous appreciation in several localities, Outer Ring Road(ORR) being one of them. As per data, real estate prices have seen a whopping appreciation of about 300% in ORR localities, over the last three years. Connecting roads like GST, GWT, CTH, and GNT, this transport corridor has resulted in the escalation of property prices in the localities covered under it. The rates have escalated in areas like Mannivakkam, Kundrathur, and Perungalathur. As and when the construction gets completed, the demand for residential houses at ORR is expected to increase appreciably.

In spite of these positive developments, real estate Chennai has also suffered a few setbacks lately. The Construction of a residential area that comprised creating 396 apartments at Poonamallee has been stalled, as per the order by Supreme Court. “If planning permission is granted, dwelling units would come up, which would definitely add to the population of the area”, says acting Chief Justice R.K.Agrawal. Another thing that is the cause of concern is the number of unsold inventories in the city. There are about 40,000 residential dwellings that have no buyers yet.

The construction of a 9 km Eastern Bypass Road to alleviate traffic congestion on GST and Treachery Road is going on in full swing. Once that comes to its completion, the commuters shall have the option to leave aside the Tammara road while traveling. Right now, the demolition of the already-built structures is going on. The residents shall have to wait and see how the things turn out to be.

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Houses for Rent in Chennai: What Options do you have?

Like other metropolitan cities, real estate has proliferated in Chennai too in a last few decades. With an ever-increasing population, the demand for property never seems to cease. Searching for a house for rent in Chennai is what more people now look forward to, the reason being that it is a more feasible option in terms of price. Instead of buying a house of one's own which, of course, involves investing a pretty good sum of money over a long period, opting for a rent house is a much better idea. You don't need to have a hefty sum at your disposal: just manage to save a few bucks from your income and keep them aside to pay your rent.

For people who prefer to live houses for rent in Chennai, there are many choices that can be made. There are several property sites where you can search the type of house you are looking for. Select the location first and decide upon your budget that you are willing to spend month after month. These twin factors of considerable importance are the deciding factors and influence your decision to choose apartments for rent in the city.

The other factors that affect a buyer's choice include the plot area, the number of rooms, and the deposit amount. While making a search for the rental houses in Chennai, keep the area per square feet into consideration. The online portals provide users with availability of houses with area as small as a single room and as big as five bedrooms or more than that!

Again, before you make up your mind to buy flats on rental basis in Chennai, you need to single out the state of furnishing that you would prefer to live in. Go for the unfurnished ones if your budget is really low. Otherwise, opt for the semi-furnished or the fully-furnished ones. As you do an online search, you would find that the prices of the later two is significantly higher if compared to the earlier one. The homes with nice decors assign a charm to your living space, so opt for them if money is not the constraint on your pockets. You can either rent a room or two, or an entire house can be hired.

And there is no dearth of modern day amenities that come with suave. Facilities like hot water, inverter, internet, modular kitchens, road connectivity, intercom, rainwater harvesting, laundry services, to name a few are readily available to the buyers. For those who are astro-inclined, rooms compliant to Vaastu are also available. Other than individual rooms or houses, you can buy rent villas, farm houses, studio apartments, or even a plot or land.

On the similar grounds,there are a dearth of options available to sellers who want to rent their houses to the buyers. They can advertise the same via online property portals and get a broader exposure for their ads in terms of number of buyers responding.

To search rental houses available for buying and selling property in Chennai and other cities, you can visit the site: Makaan.com, the online property portal.

Chennai Properties Stable Compared to Other Citites

Investors wonder how costly it is to buy a property in Chennai. A recent report says that Chennai properties are lot more affordable compared to Mumbai and Delhi. The realty prices of this city are reasonable and everybody from banks to first time home buyers feels a lot comfortable.

Many realty experts believe the realty market of Bangalore and Chennai is stable. The meltdown has hit the realty markets of the other cities severely and home sales have dipped to significant low across the country. The slump has also been witnessed in Mumbai and Delhi-NCR as the value of prime properties took a downturn which made buyers hesitate to invest. But irrespective of the financial slump Chennai properties has emerged as a robust realty market.

The properties in Chennai and Bangalore are good investment option. Among the various areas considered to be a potential investment, the Old Mahabalipuram Road (OMR) is a favourite for investors. Experts believe that the residential rental market of this area is expected to grow in the coming years because of IT companies are setting up their corporate offices around it. This area is a prime centre for the professionals because of its proximity to the working place and for this reason it pushes the demand for rental accommodation.

Because of the reasonable prices apartments in Chennai are mainly end-user. Home buyers search for flats and studio apartments to live in instead of making it an investment option. Developers and builders to meet the demand of such home buyers offer ready-to-move-in flats and cooperative multi-storeys with well maintained social infrastructure. And for this reason, the sales and demand for Chennai real estate has registered a growth.

The residential market in Chennai has always been positive. With the growing competition, developers are coming up with attractive schemes and offers for home buyers to boost sales. They are even providing information on online realty portals to reach home buyers because smart home buyers spend a lot of time on realty sites before making a decision. For instance, major developers are approaching the popular realty website Makaan.com, a leading real estate website that connects home buyers and sellers, to reach home buyers easily.