Before diving into the top 10 best residential places to buy a home in Chennai, let’s first understand the residential real estate market of Chennai.
The affordable housing segment drives the maximum demand for residential properties in Chennai. In 2024, The demand for affordable housing units within Rs 40 Lakh was 54%. Here is the budget-wise distribution of demand for the residential properties.
Current property trends in Chennai indicate a sufficient inventory of residential properties across the buying segment. It ensures affordability to the property buyers as the supply is slightly more than the demand in the key residential places in Chennai. The maximum supply of residential properties in Chennai is for 2 BHK and 3 BHK units. Here is the distribution of the BHK – wise supply of residential properties in Chennai.
Note:
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The southern region of Chennai gets the most of the new real estate project launches. This is due to the rapidly expanding IT hubs and employment centers in the South Chennai region. In 20241 second quarter, 70% of the new launches were in the south Chennai region.
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Sholinganallur
Sholinganallur is located in South Chennai and is one of the leading IT hubs. The properties in Sholinganallur have seen upward price trends because of the impressive growth rate of the locality over the last decade. Emerging employment hubs have triggered the demand for residential properties in the Sholinganallur.
Sholinganallur is considered one of the best areas to live in Chennai because of green open spaces and clean areas. The social infrastructure of the locality is improving with solutions to the problems such as traffic congestion at key points and the water supply.
Price Trends in Sholinganallur
The leading developers have shown interest in the Sholinganallur locality as it gives affordability, quality of life, and impressive growth prospects. Even though the property rates are increasing at a stable rate, the new employment hubs will benefit the properties in the locality. Positive property price appreciation can be expected from the locality, considering the constructive planning of the region.
Connectivity
The nearest railway station to Sholinganallur is Tambaram Railway Station. Also, the Sholinganallur locality has got a comprehensive network of roads. The main roads such as East Coastal Road, Velachery Tambaram Road, and OMR road enable connectivity to the leading IT hubs in Sholinganallur.
Social Infrastructure
Hospitals – Apollo Hospital, Annai Theresa Hospitals, Hygeia Healthcare, Sims Hospital
Schools and Colleges – Ramana Vidyalaya, Mount Litera Zee School, St Joseph College of Engineering, Jeppiaar Engineering College.
Retails and Malls – Grand Marina Mall, Vivira Mall, Grand Square,
Nearby Employment Hubs – SIPCOT IT Park, ELCOT SEZ
Besant Nagar
Besant Nagar is one of the prime real estate destinations in Chennai. The Besant Nagar locality is known for posh areas and impressive real estate projects with multiple housing options for buying residential properties in Chennai. The livability ratings of Besant Nagar have been impressive owing to the quality social infrastructure and peaceful living conditions.
The locality has witnessed 6 – 7% average annual growth in the property in the year 2021.
Price Trends in Besant Nagar
Growth Factors
The proximity to the famous IT hubs will continue the upward price trends for the residential properties. The working professionals prefer Besant Nagar for its proximity to the employment hubs and the multiple buying options from affordability to the luxurious house segments.
Tamil Nadu Housing Board has been consistently emphasizing the constructive planning of Besant Nagar. Eliot’s Beach is also one of the most important factors that drive the commercial market of Besant Nagar.
Connectivity
The Besant Nagar Bus network plays an important role in providing connectivity to the other regions of Chennai. The Metropolitan Transport Corporation (MTC) has planned to increase the capacity of the exiting Besant Nagar bus terminal. Thiruvanmiyur Railway Station and Little Mount Metro Station are easily accessible from Basant Nagar.
Chennai International Airport is 14 Km from Besant Nagar via the Chennai – Nagapattinam Highway.
Social Infrastructure
Hospitals – Fortis Malar Hospital, HomeoCare International, Nanthini Hospitals, Helios Hospitals.
Schools and Colleges – Thiruvalluvar College Of Engineering & Technology, Central Polytechnic College, Dr. Ambedkar Global Law Institute, St John’s English School & Junior College.
Retails and Malls – Chennai Citi Centre, Express Avenue Mall, Phoenix Market City.
Nearby Employment Hubs – Ramanujan IT City, Chennai One IT SEZ, Ascendas IT Park, International Tech Park.
Anna Nagar
Anna Nagar is known for the gated communities and the township real estate projects. Located in the North – Western part of Chennai, the locality has immaculate planning of roads, areas, and social infrastructure. Since the locality offers modern-day facilities to the residents, the people have invested in the luxurious residential properties in Anna Nagar. Bungalows, Villas, multi-storied apartments are the popular residential property types in Anna Nagar.
Price Trends In Anna Nagar
Growth Factors
Anna Nagar Roundtana is a commercially developed region that drives the economic activities in the Anna Nagar region. The quality infrastructure and good livability of the region will continue to upscale the demand for residential properties. Anna Nagar will continue to be one of the best neighborhoods in Chennai to live in.
Connectivity
The nearest railway stations to Anna Nagar are Villivakkam Railway Station (4 Km) and Perambur Railway Station (6 Km) from Anna Nagar. Also, The Chennai Central Railway station is 7.7 Km from the Perambur locality whereas the Chennai international airport is 15 Km from Anna Nagar. All the 7 avenues in Anna Nagar are very well interconnected to provide easy access to key areas in the region.
Social Infrastructure
Hospitals – Be Well Hospitals, Homeocare International Hospital, Vee Care Hospitals, Billroth Hospitals
Schools and Colleges – Shri Krishnaswamy College For Women, Dhanalakshmi College Of Engineering, Apollo Group of Colleges
Retails and Malls – VR Mall, Miniso VR Mall, The Forum Vijaya Mall,
Employment Hubs – Central business district (CBD), Padi Industrial Estate, SIDCO Industrial Estate, Ambattur Industrial Estate.
Vadapalani
Vadapalani gets the benefit of its central location. The residential properties in Vadapalani have the highest demand for 1 BHK and 2 BHK units. Also, the luxurious and premium lifestyle-oriented projects are also built in the Vadapalani region. Also, Vadapalani has strong connectivity which allows easy access to the other key areas in Chennai.
Price Trends in Vadapalani
Growth Factor
The proximity to Chennai international airport will be a key factor for the growth of Vadapalani. The locality is emerging and therefore it is one of the best areas to live in Chennai. The nearby IT parks and employment hubs can be reached easily due to the Vadapalani region’s strong connectivity.
Connectivity
The nearest railway station from Vadapalani is Kodambakkam Railway Station (3 Km). Also, line 2 of Chennai Metro(Green Line) connecting Chennai Central to St Thomas mount can be accessed from New Ashok Nagar Station.
The Arcot Road has played a significant role in connecting Vadapalani with the other areas in Chennai.
Social Infrastructure
Hospitals – Apollo Hospitals, Fortis Hospital, Sims Hospital, Billroth Hospitals.
Schools and Colleges – Avichi College Of Arts & Science, Madras Institute of Fashion Technology, Davinci Medical College.
Retails and Malls – Forum Vijaya Mall, Chandra Metro Mall, V R Mall, Express Avenue Mall, Phoenix Market City.
Nearby Employment Hubs – Olympia Technology Park, Serve Technologies, Valvi Infotech, Guindy Industrial Estate
Korattur
Korattur is a locality that shows continuous commercial and residential growth. The industrial development in Korattur and the establishment of the manufacturing industry triggers the employment in Koratur and hence results in the higher demand for residential properties.
Price Trends in Korattur
Growth Factors
Currently, the proximity to the employment hubs drives most of the demand for the residential areas. The property prices in the locality are growing at a rate between 4 – 5% annually making it a perfect opportunity for investment in residential or commercial properties. Also, initiatives have been taken to manage the waste industrial water discharged to the important Korattur Lake.
Connectivity
Korattur Railway Station provides access to the other important regions in Chennai. Tirumangalam is the nearest metro station to the Korattur locality. This metro station allows access to the line connecting Chennai Central and St Thomas Mount with a total of 17 stations.
Inner Ring Road, Grand Northern Trunk Road, and Chennai Bypass provide solid road connectivity to Korattur.
Social Infrastructure
Hospitals – Homeocare International Hospital, R.P.S Hospital, Be Well Hospital, Rajam Nursing Home
Schools and Colleges – Mar Gregorios Arts & Science College, Annai Violet Arts & Science College. Bhaktavatsalam Memorial College For Women
Retails and Malls – Elite SuperMarket, Raja Mall, V R Mall, Ampa Skywalk.
Nearby Employment Hubs – SIDCO Industrial Estate, Ambattur Industrial Estate, Prince Info Park, Kochar Technology Park.
Choolaimedu
Choolaimedu’s commercial development has uplifted the housing segment of the locality. The social infrastructure of the locality has been improved over the years. The employment hubs have been the triggering factor for the new and quality residential projects in Choolaimedu, Chennai.
There is also a significant demand for the properties in Choolaimedu. This gives the options to the buyers to rent out the properties at higher rental yields.
Price Trends In Choolaimedu
Growth Factors
The annual property price appreciation in the locality is between 3 – 4% owing to the rapid commercial development. Locality mainly offers 1 BHK and 2 BHK configurations. Recently there has been an increased demand for the 3 BHK configuration which suggests that the locality has been now preferred by the higher income group.
Connectivity
The strong network of MTC buses facilitates transportation for the Choolaimedu residents. Arumbakkam is the nearest metro station (2.2 Km) connecting Chennai Central to St Thomas Mount.
The Nungambakkam Railway Station (1.4 Km) can be reached easily from the Nelson Manickam Road. Arcot Road and Sardar Patel road strengthen the connectivity of the Choolaimedu region.
Social Infrastructure
Hospitals – Amma Hospital, Ambert Hospital, Billroth Hospital, WCF Hospitals.
Schools and Colleges – Manimekalai Educational Institute, Academy Of Fashion and Textile Technology, Dhanalakshmi College Of Engineering.
Retails and Malls – The Forum Vijaya Mall, Ampa Skywalk, Express Avenue Mall, V R Mall
Nearby Employment Hubs – Tidel Park, Olympia Tech Park, International Tech Park.
Valasaravakkam
Valasarvarkkam has emerged as the perfect destination for buying properties in Chennai. There are two main reasons for choosing Valasaravakkam for buying properties. First, the employment hubs can be easily accessible from the Valasaravakkam, and second, the locality has top-notch healthcare, education, and retail facilities.
The key quality of the residential projects in Valasaravakkam is the modern-day amenities offered by the developers. The maximum demand in Valasaravakkam is for the 2 BHK and 3 BHK configurations. The recent residential projects in Valasaravakkam have all the end-to-end services to offer ease of living to the residents.
Price Trends In Valasaravakkam
Growth Factors
Proximity to the employment hubs will play a major role in the development of the locality. Residential properties will get a positive property price appreciation as the locality is expanding commercially. The annual property price appreciation which is currently at 3% is expected to increase with the establishment of new IT companies and commercial boost.
Connectivity
The nearest railway station to Valasaravakkam is Guindy which is 10 Km from Valasaravakkam. The Metro Green line from Chennai Central to St Thomas Mount can be accessed from the nearest metro station CMBT.
The Chennai- Bangalore highway has strengthened the connectivity of the Valasaravakkam. It provides transportation facilities to the commercial and industrial hubs of the surrounding regions.
The Chennai international airport is 11 Km from Valasaravakkam and takes 30 min drive to reach.
Social Infrastructure
Hospitals – Fortis Hospital, Sims Hospital, Rakshit Hospital, Be Well Hospital
Schools and Colleges – Arignar Anna Institute of Science & Technology, Dr. MGR University, La Chatelaine Junior College
Retails and Malls – Forum Vijaya Mall, Chandra Metro Mall, Phoenix Market City, Palladium Mall.
Nearby Employment Hubs – Ambattur Industrial Estate, Guindy Industrial Estate, ESPEE IT Park, Kosmo One, DLF IT Park, Tamarai Tech Park
Velachery
Velachery offers quality settings for residential properties. The commercial and industrial development has further increased the demand for residential properties in Velachery. The properties In Velachery are across multiple buying segments starting from affordability to luxurious lifestyle-oriented properties. Therefore it is one of the most preferred neighborhoods in Chennai to live in.
The strong physical infrastructure and the surrounding IT corridor of The Old Mahabalipuram Road (OMR) will keep the upward trend for the property.
Price Trends in Velachery
Growth Factors
Increasing IT employment hubs will keep the upward property price trend in the Velachery locality. The continuous IT growth of the OMR IT corridor will be beneficial for the locality in multiple ways. The locality has the maximum demand for the 2 BHK and 3 BHK units. The residential projects in Velachery have top-notch amenities and facilities. The locality also has independent houses and multistory apartments.
Connectivity
Grand Southern Trunk GST Road and Velachery Main Road provide connectivity to the important central business district and the OMR IT corridor. Also, the Velachery railway station facilitates the commute to the key employment hubs. The upcoming metro infrastructure project between Madhavaram to Sholinganallur under phase 2, will enhance the overall connectivity of the Velachery.
Social Infrastructure
Hospitals – Velachery KS Hospital, Ark Hospital, Athipathi Hospital.
Schools and Colleges – Guru Nanak College, Remo International College, Dhanalaxmi College of Engineering.
Retails and Malls – Phoenix Market City, Palladium Mall, Grand Square, Forum Vijaya Mall
Nearby Employment Hubs – Olympia Technology Park, ASV Suntech Park, Ramanujan IT City, Ascendas IT Park.
Vandalur
Vandalur is the locality that has been transformed completely over the last decade. The large green open landscapes in Vandalur have been providing perfect settings for the residential properties. The demand for the residential properties in Vandalur is increasing over the years and currently giving a rental yield of 4 – 5% which highlights the growth prospects of the properties in Vandalur Chennai.
Price Trends in Vandalur
Growth Prospects
Currently, the properties in Vandalur are affordable as compared to the other regions. The biggest benefit of Vandalur is that it is a rapidly emerging market. Therefore, the properties in Vandalur have the potential to get a high property price appreciation.
The expansion of the IT sector in Vandalur would be a game-changer for the locality. With the strengthening of the social infrastructure with quality hospitals, educational industries, the demand for residential properties will remain high.
Connectivity
Vandalur – Kelambakkam road has facilitated connectivity to the OMR and the GST road. This connection has given easy access to the leading IT hubs in Chennai.
The upcoming Vandalur – Minjur stretch will upscale the connectivity of the Vandalur locality and play a vital role in the growth of the Vandalur micro-market.
Social Infrastructure
Hospitals – Homeocare International Hospital, Santhoshi Hospital, New Life Hospital.
Schools and Colleges – B.S. Abdur University, Tagore Dental College, Annai Violet Arts & Science College.
Retails and Malls – Gold Sauk Grade, Grand Marina Mall, Grand Square, Vivira Mall.
Nearby Employment Hubs – Estancia IT Park, Chennai One Software Park, Chennai One Software Park.
Pallikaranai
Pallikaranai is one of the most rapidly growing residential areas to buy a home in Chennai. The biggest contributor to the Pallikaranai’s growth is the IT boom of the Old Mahabalipuram Road.
The residential property demand in the Pallikaranai is increased because of the surrounding micro-markets such as Perungudi and Velachery. Pallikaranai is considered one of the best residential areas in Chennai for its rapidly growing micro markets and higher ROI prospects.
Price Trends In Pallikaranai
Growth Factors
The real estate project in Pallikara is currently offering the best affordability. At the same time, the growth prospects for the Pallikaranai are excellent as the micro markets are expanding rapidly.
The proposed Outer Ring Road (ORR) connecting Medavakkam to Karapakkam will benefit the locality. Also, the Velachery to Vadalur monorail route will trigger the growth of the Pallikaranai locality.
Connectivity
The Velachery Main road and the Pallavaram – Thoraipakkam road contribute greatly to the connectivity of the Pallikaranai. The nearest railway station to the Pallikaranai is the Velachery Railway station.
The upcoming mono route projects and the proposed ORR will enhance the connectivity of the Velachery Region.
Social Infrastructure
Hospitals – Annai Theresa Hospital, Homeocare International Hospital, Dr. Kamakshi Memorial Hospitals
Schools and Colleges – Asan Memorial College Of Arts And Science, Anna Violet Arts and Science, Dhanalaxmi College of Engineering.
Retails and Malls – Grand Square, Phoenix Market City, Palladium Mall, Grand Galada Mall
Nearby Employment Hubs – Taramani Tech Park, RMZ Millenia, SP Infocity, International Tech Park, Ramanujan IT City, Olympia Technology Park.
