Chetpet : A locality for high-end users
Chennai has many high-end real estate destinations. Most of them are located at the centre of the city where every infrastructure is available and is mostly commercialized. High-end business class people reside in these type of micro markets. Micro markets like Egmore, Nungambakkam, Anna salai, T. Nagar etc are some of the micro markets which could be listed as high-end user localities. Chetpet located in centre of the city also falls into this list.
Connectivity:
The main roads which bound the locality are Poonamallee high road, McNichols road and VR Ramanathan road. It is also connected by railway and has it’s station on it’s own. Egmore is neighbouring adjoining micro market. The Chennai international airport is about 20 km away from the micro market.
Infrastructure:
St. Dominic Savio Higher Secondary School, St. Anne Higher Secondary School ,Government Higher Secondary School, Danie Matriculation High School, Panchayat union primary school, Dhivya Matriculation Higher Secondary School, Dhivya College of Education, Dhivya Arts and Science College ,Dhivya Polytechnic College, Dhivya High School are some of the important schools in this locality. Union Bank of India and 2 ATMs of this bank, State Bank of India and 2 ATMs of this bank, Indian Overseas Bank, Corporation Bank, Karur Vysya ATM, Pallavan Grama Bank, Axis Bank ATM are some of the banks and ATMs in this locality. Apart from this locality also has supermarkets, restaurants, theatres and social interactive spaces.
Real estate:
The locality attracts demand primarily owing to the location of it. Being in the centre of the city with all well developed infrastructure, this locality is one of those localities where people who belong to the high income group can afford properties here. The market is stagnant but still demand still persists.
Price trends:
A 2 BHK would cost around a price range of 80 lakhs to 1 crore while a 3 BHK can go upto 1.5 – 3 crores. The cost keeps appreciating gradually due to the stagnant market type. Rental returns can reach to a range of about Rs. 45,000 – 55,000 for a 3 BHK and about Rs. 25,000 – 30,000 for 2 BHK. One can easily make about 3 – 6 lakhs on rental returns per year if he owns a house in Chetpet.
