Where can you find 4 BHK Apartements for Rent in Chennai Real Estate?

Searching for a 4 BHK flats for rent in Chennai? If you have a good take-home pay and can afford to set aside at least 15-20k as monthly rental, you are at the liberty to have many options across different parts of the city. A typical four-room apartment in city can cost as low as 15k and as high as 1 lakh. Let's have a look over different rental brackets prevalent over different localities.

For tenants looking for el-cheap options, Chennai real estate offers localities like OMR (Old Madras Road, Pallikaranai, Pammal, Perumbakkam, Urapakkam, Ayanbakkam, and Porur. The typical rental range for a 4 BHK flat across this is 15-20k/ month. In 20-30k rental bracket, options like Gopalapuram, K.K. Nagar, Keelkattalai, Kodambakkam, Perungudi, Thazhambur, and Nungambakkam can be good choices for tenants.

4 room apartments for rent in Chennai that are available @ monthly rental lying between 30-40k are many. Prominent locations such as ECR, Kilpauk, Kottivakkam, Mandavelli, Mylapore, T. Nagar, and Iyyapanthangal. Eggattur, Uttandi, Sembakkam, Choolaimedu, Maramalai Nagar, Chromepet, and Cenotaph Road are the posh areas and carry expensive rentals. The price bracket across these generally lies in 40-50k bracket.

If you can shell out 50-80k as a rental money every month, the localities that can be apt for you are Akkarai, Alwarpet, Besant Nagar, R.K.Salai, Neelankarai, Senthome and Oragadam. Still higher rentals, i.e. touching 1 lakh value are prevalent over prime residential areas sch as Boat Club Road, Kotturpuram, MRC Nagar, Abhiramapuram, Ayanvaram, Chetpet, and Pallavakkam.

Chennai rental properties have managed to be in demand, thanks to the presence of IT sector and high-end infrastructural projects. The city is well-connected and has made tremendous real estate development over last decade. Migration of expatriates from other cities has also kept the rental market all hot.

Chennai Real Estate: Renting More Preferable to Buying?

In light of the skyrocketing rates of properties in India, the realty market seems to shift gears. An average buyer is now more inclined towards renting a house rater than making a buy. Same is the case with Chennai where this trend is quite noticeable. According to Makaan's Buy Rent Index(MBRI), this city has witnessed a rise in tendencies for hiring properties on rent rather than buying them. Over last two years, MBRI value increased by 7 points, shifting hitherto neutral Chennai real estate market to rental range. A value of more than 25 indicates that renting properties is more preferable than owning a house. While North Chennai MBRI stood at 27, South Chennai's index stood at 28 in the last quarter of 2013.

With more demand for flats for rent in Chennai, the prices have escalated across its several localities. The stock of inventories is limited while the demand is on the higher side; this has resulted in price appreciation of rental home. The space crunch was also brought about by the non- availability of vacant spaces: the rental flats in the city have the tendency to get consumed quickly, thus keeping several tenants in lurch. This, in turn, made the landlords raise rents. Ashok Nagar and Egmore witnessed an appreciation of 13% and 8% respectively over Oct-Dec, 2013.

But there are several Chennai real estate localities where rental rates underwent depreciation in last quarter of 2013. Prices in Besant Nagar, Chromepet, and Chetpet went down by 8-10%, while in Alwarpet and Kilpauk, the rates saw a 3-5% decline if compared to the previous quarter. However, on the whole, Chennai's increased preference for rental properties indicates that people find it more viable to live on rental spaces rather than purchasing their dream home.

Options for Tenants Looking for House for Rent Properties in North and South Chennai

The absorption rate of residential houses in Chennai has gone all the way up, thanks to the way its suburban markets have flourished over years. The city is an IT stalwart and is bestowed with good physical infrastructure. This has helped the demand market to tread the upward graph. As the demand for residential properties escalated, and with this rental market too chartered new heights. There are several growth areas where the rental market is burgeoning at a fast pace. Let's have a look what are the rental options for the tenants looking for a rental apartment across Chennai's different suburbs. We shall limit our discussion to north and south parts of the city.

A two room rented apartments in Chennai in northern region carries some good options such as Avadi, Mogappair, Anna Nagar, Madhurvayal, and Madhavaram. Avadi is a major sub-urban area in north. Its excellent connectivity and up-to-the-mark infrastructure have gone very well with the realty market. Extending of Chennai-Tirutani Highway is on cards, and is expected to bring traffic congestion problems under control. Ambattur is another prime residential area for the tenants looking for rental properties in Chennai. Its Industrial Estate, spread over acres, is the biggest draw for small scale industries and IT parks. Anna Nagar is well-planned suburb, while Mogappair is known for the strong presence of software giants.

A house for rent in Chennai towards the southern part of the city has good options such as Velachery, Perungudi, Porur, Thoraipakkam, Tambaram, Mylapore, and Chromepet. The rental range across these, and the other localities varies from place to place. Velachery and Perungudi are the high growth areas. Velachery is well connected to GST Road ad CBD area, making it accessible from other cities. Perungudi's strategic location to other well-developed areas like Thoraipakkam and Pallavakkam have imparted it much significance for property seekers. Navalur is yet another locality that thrives on it IT sector and connectivity to OMR.

Plenteous of Properties in Chennai Launched This Year

Chennai, a tier I city of India, has witnessed a number of things happening on real estate front. While other metros like Mumbai, Gurgaon, and Delhi have found themselves in the clutches of economic crisis and inflation, Chennai has managed to progress at a good pace in terms of realty market. A number of launches have seen light of the day here. Some of the reputed developers and builders have floated their high-end projects in the city. The demand for office spaces, according to the research firm Jones Lang LaSalle. Top-class offices have been opened in IT-backed localities. A series of projects have been initiated in Central Business District(CBD).

Several eminent office-centers have been launched , and most of them have kept economization of space in consideration. On the similar lines, realty companies have continued witnessing the demand for leasing spaces. In residential sector too, properties in Chennai have seen a steady growth. Though the absorption rate is not too high, yet the big banners have rolled out several projects in different parts of the city.

 

Let's have a look at some of the new launches that Chennai has seen lately. Real Value Promoters have come up with their apartments in Chennai in the plush locality R. A. Puram. The residential project comprises of 18 luxury flats laced with several mod cons, including panic rooms, 7 level security system, 4D movie lounge, and banquet halls. This shall be one of the most expensive projects that shall consist of spacious apartments in 14-20 crore range.

Artha Homes has rolled out its set of elegant and sophisticated flats under the name 'Crystal Park' at Old Mahabalipuram Road (OMR). It shall have 2 and 3 room flats, occupying area range between 1200-1660 sft. Ananda by North Town Estate, has 1, 2 and 3 BHK flats, designed with contemporary architecture. Yet another project that saw light of the day is Verterra by Primex Infrastructure. The 1, 2, 3 room apartments flats are environment-friendly and emit minimum pollution.

Makaan.com, the eminent search property site, lets you search flats, villas, bungalows, farmhouses in different Indian cities. Apartments in Chennai are available for buying and selling. Look for price trends for Chennai real estate, on quarter to quarter basis.

Localities in Chennai Offering Budget Rent Houses

No one, willingly, loves to live on a rental property. But buying a house of one's own has become the luxury of a few. The all-pervasive inflation, the ever-increasing hunger of the developers, and population boom have remained the primary factors behind dampening of dreams of many. So, the only option left is to hire a rental house. In a tier-1 city like Chennai, the need for rental properties remains an all-time high. It is not only cost-effective, but also fulfills the needs of those who have relocated here from other cities. Being an IT hub, the migrating population mainly belongs to the professional class who flock here in search of white-collared jobs.

Consider a 2 BHK flat in Central part of the city. A rent house in Chennai in this region comes with many options, and that too affordable ones. Choolaimedu, Arumbakkam, Nelson Manickam, Chetpet, Aminjarai, and Mehta Nagar are a few options where a tenant can look for a house in the rental range lying between 10-20k. A few other localities that come with affordable price tags are Chinmaya Nagar, Periamedu, and Mount Road.

As we are talking about Chennai property, we need to throw light over other regions too. Here too, a tenant is at the disposal of too many options in the above stated range. Take Avadi, for instance. For a two-room rental property, you can get a house at a price as low as 6k per month. Same is the case with Ambattur and Perambur: the rental rates as low as 5-7k can be expected here. Kolathur, one of the prominent localities of North, offers budget rental houses in 5-13k range.

Towards North, though the rates for residential properties are quiet high, the rent houses within budget can be availed in several localities. Velachery, Urapakkam, K.K. Nagar, Tambaram, Madambakkam, and Sholinganullur have cheap rental properties, in addition to the pricey ones. In West, you can hunt two-room flats in localities like Porur, Ramapuram, Madanandapuram, Koyambedu, and Ayapakkam,

Make property search, both residential and commercial, over the real estate portal, Makaan.com. The portal comes with many options for seekers of rent house in Chennai and other cities of India. Keep abreast of the property trends for Chennai real estate.

No one, willingly, loves to live on a rental property. But buying a house of one's own has become the luxury of a few. The all-pervasive inflation, the ever-increasing hunger of the developers, and population boom have remained the primary factors behind dampening of dreams of many. So, the only option left is to hire a rental house. In a tier-1 city like Chennai, the need for rental properties remains an all-time high. It is not only cost-effective, but also fulfills the needs of those who have relocated here from other cities. Being an IT hub, the migrating population mainly belongs to the professional class who flock here in search of white-collared jobs.

Consider a 2 BHK flat in Central part of the city. A rent house in Chennai in this region comes with many options, and that too affordable ones. Choolaimedu, Arumbakkam, Nelson Manickam, Chetpet, Aminjarai, and Mehta Nagar are a few options where a tenant can look for a house in the rental range lying between 10-20k. A few other localities that come with affordable price tags are Chinmaya Nagar, Periamedu, and Mount Road.

As we are talking about Chennai property, we need to throw light over other regions too. Here too, a tenant is at the disposal of too many options in the above stated range. Take Avadi, for instance. For a two-room rental property, you can get a house at a price as low as 6k per month. Same is the case with Ambattur and Perambur: the rental rates as low as 5-7k can be expected here. Kolathur, one of the prominent localities of North, offers budget rental houses in 5-13k range.

Towards North, though the rates for residential properties are quiet high, the rent houses within budget can be availed in several localities. Velachery, Urapakkam, K.K. Nagar, Tambaram, Madambakkam, and Sholinganullur have cheap rental properties, in addition to the pricey ones. In West, you can hunt two-room flats in localities like Porur, Ramapuram, Madanandapuram, Koyambedu, and Ayapakkam,

Make property search, both residential and commercial, over the real estate portal, Makaan.com. The portal comes with many options for seekers of rent house in Chennai and other cities of India. Keep abreast of the property trends for Chennai real estate.

Real Estate Chennai Witnesses Gravitating Prices

While the entire Indian economy is handcuffed in the chains of inflation, and when the realty market is is pushing back the buyers instead of pulling them in, Chennai is also not left out. This year has seen the city's property market go besotted under the influence of rapidly increasing prices, inflation, and the financial crisis. The result is all before us. The demand for the residential properties has all sinked and sagged. Like other metros, the number of inventories lying vacant is in thousands. Add to it, the high interest rates that have marred the interest of a buyer into making a purchase.

Chennai real estate, in light of the above scenario, is facing a bad phase. Under the combined influence of all the above factors, the prices have now started stumbling. Just as a bubble bursts on getting overfilled, the rates too have started slumping down, though in bits and parts. About 3% fall in prices has been witnessed in the prices of all type of residential houses. The peripheral regions, i.e. ORR(Outer Ring Road), built to meet the growing demand for property, had seen the rates gone almost triples in previous months. But there too, a fall of 30-40% has been seen. The developers, however, have started weaving false stories to bamboozle their buyers. They are not willing to recognize that the rates have indeed fallen, and it is high time that bubble should burst.

ORR, a transport corridor, built to provide connectivity among NH 45, NH 4, NH 205, and NH 5, has seen a hike in demand for flats for sale in Chennai. This 62 km road is intended to offer better internetwork in localities lying around like Vandalur, Nemilicherry, GWT Road, Nazarathpeth, Minjur, Mudichur, and others. As the prices have rolled down, the demand at ORR and other peripheral localities is faring better than in other parts of the city.

Localities where prices have appreciated in the current quarter include Adyar, Ambathur, Chromepet, GST Road, Korathur, Kelabakkam, Madambakkam, Pallavaram. Porur, Seliyur, Siuseri, Perumbakkam, and Mogappair. On the other hand, the drop down has been witnessed at Navalur, Pallikaranai, Oragadam, Thoraipakkam, RA Puram, and Guduvancheri, giving the end-users an opportunity to make a buy. The time is also ripe for negotiating as developers are trying their hands to get rid o the vacant inventories. They have also come up with cash discount schemes and freebie offers for apartments on sale; one of their many marketing strategies.

Makaan.com, the real estate portal based in India, lets a user buy, sell, or rent properties across different cities. The site lets you get informed about the ongoing price trends for Chennai real estate and other cities in India.

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.
Purchase, sell or rent properties over real estate website, Makaan.com. This property portal lists lacs of residential and commercial spaces from top-class developers, brokers, and owners. Individual rooms, independent houses, bungalows, villas, shops, and godowns in different locations and under different price tags are available for making a purchase.

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.

Select properties, both residential and commercial over property website, Makaan.com. This premier real estate portal offers properties in all the major cities of India, and makes it easy for the users to buy,sell or rent, as per their requirements.

Rent House in Chennai: Tidbits Related to Price Rates

Chennai is largely inhabited by a population that has relocated from neighboring states in search of jobs. This chunk prefers to live in rental residences; such houses being affordable and flexible to these users are well-liked. Locating a house for rent in Chennai is not too big a deal; a little bit of research work can prove handy in doing so. We have gathered a few tidbits of city's rental residences; this shall give you an idea of how things are faring there.

For economical options, go for Sriperambudur and Avadi. Here a monthly rental as low as 4-8k can be expected for a two room flat. For such lower rates, the facilities available won't be up-to-the-mark, or even below average. If price is not an issue, you can hunt an apartment for rent in Chennai in Central Business District(CBD). But then, the prices too are very high in these localities: at Adyar, it can vary between 22-30k, while a similar property at Alwarpet, T. Nagar, and Anna Nagar can be hired at a rate ranging between 20-25k. Most of the apartments in the CBD region are well-furnished and are equipped with good infrastructure.

A 2 BHK apartments in Chennai, specially in the southern part, is available within the price range 8-16k. While in localities like Chrompet and Urapakkam, you can look for flats that have rental range between 8 to 10k, while at Semmancherry, Tambaram, and Medavakkam, a two room flat shall be available at a slightly higher price rate: 10-14k. At Sholiganallur, the prices are still higher, with rent going as high as 16k. At present, properties in Chennai tends the demand-supply ratio in the city is facing a lopsidedness, thanks to high prices and lower demand. Once the balance seeps in, the rental rates shall too fall in place.

At Medavakkam, though the cost is average, but the possibilities of future employment generation are somewhat bleak. In that case, locating a rent house in Chennai in localities like Oragadam and Sriperambudur would be better option. But, on the flip side, these two places fare poor in terms of proximity to the commercial infrastructure.

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