Chennai Q1- 2015 : Rental Property Tracker

Salient Features

• Out of the top rental markets based on the availability and rental yield, maximum were skewed towards the southern part and rest in the western part of the city.
• Demand in localities such as Chrompet, Velachery and Old Mahabalipuram Road (OMR) is mainly influenced by the IT/ITeS professionals who prefer to live close to their work places and save time and money in commuting.
• Moreover, both Chrompet and Velachery are in proximity to the Chennai International Airport, which is situated at a distance of about 7km from the former and 9km from the latter. Further, these markets also boasts of well-developed social infrastructure and good connectivity via Mass Rapid Transit System (MRTS).
• Consistent need of rental properties in Madipakkam is primarily attributed to its strategic location. Situated along 200-ft-wide road, on one side it connects to Tiruchi-Chennai Highway and on the other side it is linked to OMR. In addition, the Velcahery Railway Station is just 3 km from the locality connecting it to the local rail network of the city.
• Interestingly, Porur and Medavakkam are two markets that have retained top position in
  terms of both availability and rental yield. While the former is benefitting due to its strategic location and the presence of chemical and manufacturing industries, the latter is growing due to the proximity to important IT and commercial areas such as Velachery, OMR, Pallavaram and Tambaram.
• Excellent connectivity, proximity to IT hubs and availability of well-developed infrastructure have made Poonamalle score positive on the rental graph of the city. Also, the area receives spill-over demand from nearby Anna Nagar and Porur, where rents have become unaffordable for many.
• Affordable property values have helped Ponneri to get a slot in the top markets for rental yield. Located in Thiruvallur district, it is expected to be developed as smart city, which has increase the popularity quotient of the area.

The purpose 1) Help the consumer to understand availability of rental properties in the Bangalore and Pune markets respectively.2) Assist the consumer to understand the top markets for rental returns in the respective city. The data is taken from listings done by builders/ brokers/ individuals to rent out their properties through CommonFloor.com from Jan to Mar, 2015.

Disclaimer: The information provided in this Website is based on CommonFloor data which is collected from various publicly known sources viz, websites, documents and maps including CommonFloor’s proprietary data resources, and from the inputs of unidentified individuals. It ought to be considered as a guideline and not as absolutely certain. While care has been taken for groundwork, no responsibility is accepted for the accuracy of whole or any part. This information is absolute property of CommonFloor /maxHeap Technologies Private Limited. It should not be reproduced in any form, in part or whole, without prior written permission of CommonFloor. The information is provided on an “as is” and “as available” basis. CommonFloor expressly disclaim warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.