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Chennai Property Market, Price Trends, Circle Rates & Tax !

Chennai, formerly known as Madras, is the capital of Tamil Nadu. It has a rich colonial history with the East India Company establishing its headquarters here. The city has seen tremendous development over the past years, resulting in it being counted among the top metropolitan cities of the country. The city has a great literacy rate and commendable universities, making it one of the best locations for education purpose. Along with it, the lively people, authentic cuisine, historical monuments and religious importance make it one of the most livable cities in the country.

 

Infrastructure & Connectivity
The European culture can be easily mirrored in the infrastructure of Chennai. The state government of Tamil Nadu has put a foot forward to modernize the city and render it a world-class look. This metropolitan city is at par with all the other metro cities in terms of its great connectivity via the national highways and bus network. It also hosts one of the busiest international airports of the country. Apart from that the newly proposed metro link and the recently launched railway project would only make connectivity in the city even more seamless.

 

Demography
The population of Chennai is rounded off at 8.2 million for the year 2016. This population has almost doubled in the past five years; it was estimated to be 4.6 million in the 2011 census. It is ranked sixth in the country in terms of population. Chennai is counted among one of the leading cities in terms of the literacy rate, which is estimated to be around 90.33%. The sex ratio of the city, while not being excellent, is still way better than other cities. It has around 986 females for every 1000 males.

 

Life Style
From the mouthwatering South Indian cuisine served at the roadside stalls to several high-end restaurants serving international cuisine, Chennai can serve the taste-buds of every person. Apart from the food, this city also manages to be at par with the increasing demand for educational institutes. There are several universities and schools that offer the best educational facility. Numerous malls, multiplexes, amusement parks and other entertainment options have opened up in the city to suits the needs of its inhabitants.

 

Key localities in Chennai
The excellent infrastructure advancement and increasing migration in the city have made the city one of the four metropolitan cities of the country. There are several localities within the precinct of the city that would definitely be capable of matching your Chennai real estate needs. Some of these localities can be easily seen with the banner of ‘Chennai Properties For Sale’. These localities are listed here: Anna Nagar, Mogappair, Urapakkam, Kelambakkam, Tambaram, Rajakilpakkam, Sholinganallur, Velachery, Pallikaranai, etc.

 

Real Estate Market
The builders of the Chennai have contributed to the city’s development. They come up with world-class projects and buildings to fulfill the increasing demand of real estate in Chennai. They have added stars to the property in Chennai with their magnificent work. Some of the key builders of Chennai are: Unitech, Sobha Developers, Puravankara, Prestige, Mahindra Lifespaces, Indiabulls, etc.

 

Projects in Chennai
One can find different types of property for sale in Chennai. There are several projects that would be delivered by the builders to add to the infrastructure development of the city. One can easily find property as per one’s needs; whether it is residential or commercial. The city has a plethora of options to suit the needs of everyone. There are budget flats, affordable apartments, luxury villas and impressive duplexes that can be found in one’s desired location in this city.

 

Govt Projects in Chennai
Tamil Nadu state government comes up countless housing schemes to fulfill the property needs. They offer excellent real estate for sale in Chennai at an affordable price to fit the budget of every dweller. The TNHB Govt Housing Application form for 2017 is out now and can be filled till 28 December 2016.

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  • Sales Price Trends in Chennai

  • Property Distribution

  • Locality Price Range (Rs./Sq-ft) Average Price
    (Rs./Sq-ft)
    Oct 2017
    vs
    Jan 2018
    Nungambakkam 20961 - 31576 26268.5 0%
    Ashok Nagar 13103 - 13127 13115 0%
    Alwarthiru Nagar 11355 - 11368 11361.5 0%
    Saidapet 10314 - 11244 10779 4%
    Velachery 7160 - 7950 7555 7%
    Mogappair West 5787 - 6360 6073.5 0%
    Mogappair 5784 - 6270 6027 0%
    Moolakadai 5492 - 5496 5494 0%
    Mambakkam 5307 - 6076 5691.5 0%
    Pallavaram 5197 - 5884 5540.5 3%
    • 38% - Apartments / Flats
    • 44% - Residential Plots
    • 4% - Builder Floor
    • 12% - Independent House
Disclaimer : The Price Trend of different location has been compiled from the asking price of the database of properties listed on RealEstateIndia.com and are not based on the actual transactions. Therefore RealEstateIndia.com does not give any guarantee of the accuracy, reliability and completeness of any information and data should be verified independently.

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