Key real estate localities in Chennai to invest in 2023
When it comes to investment in real estate either second home buying or land buying people often don’t know where to start. If they are buying a home they look for good returns and if it is a plot they look for better appreciation in near future.
Chennai being the fastest growing metro is the preferred place for second home buying or for any real estate investment. Over the years Chennai has carved out an identity for itself as a stable market and which will continue to deliver in future as well.
The city is considered one of the biggest cultural, educational, and economic centers in Southern India. Its booming IT industry has turned it into a residential hub, primarily driven by IT and IT enabled services companies.
We have mapped 5 upcoming real estate hotspots in Chennai to assist investors.
1. Madambakkam
Madambakkam which is located in the Chennai south zone near Medavakkam is an emerging locality which is bordered by Selaiyur, Vengaivasal and Sithalapakkam. Many real estate developments are happening in Madambakkam prominent developers have launched many gated community plots and flats for sale in Madambakkam. Madambakkam is the fastest growing locality in Tambaram east zone.
Madambakkam is witnessing both residential and commercial growth . Here you can buy a land at half the price of Medavakkam.
2. Thalambur
Thalambur which is located in the OMR corridor between Sholinganallur and Navalur is the hot locality for plot investment and for constructing one’s own individual house in OMR.
Thalambur has good connectivity to Siruseri SIPCOT and the new Kilambakkaml bus stand in Chennai. The demand for plots in Thalambur has gone up in recent times.
Thalambur is also close to IT hubs; hence, the scope for employment opportunities
3. Vandalur
Vandalur is the hottest locality in Chennai where major infrastructure developments are happening. Vandalur has many educational institutions and the recent central bus stand boosted the sqft price in Vandalur which gave good returns for whoever invested in the locality before.
Vandalur is located in the GST corridor between the existing Airport and the upcoming proposed airport of Chennai. Kelambakkam to Vandalur corridor which connects GST and OMR is the another hottest corridor where the major infrastructure developments are happening .
4. Ambattur
Ambattur is situated in the north-west part of Chennai. It is a fast developing residential as well as industrial locality. Ambattur Industrial estate is South Asia’s Largest Small scale industrial estate and the neighbourhood is also well equipped in terms of social infrastructure.
Ambattur is suitable for both commercial and residential investments.
5. Pallikaranai
Pallikaranai is one of the attractive real estate hotspots the city has to offer to prompt investors.
Pallikaranai lies between OMR corridor which houses hundreds of IT Companies and GST corridor which is also the critical corridor in Chennai which has airport , Central bus terminus and many manufacturing companies in the long corridor.
Pallikaranai is the preferred locality for many investors where you can find many gated community projects which keeps the rental houses in always demand in the locality
