Apartments under 30 Lakhs: A popular trend in Chennai

Q: Hi heard that demand for residential apartments has risen in Chennai. Kindly share this news.

Shyam Sundar, Chennai

9th December 2013

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Replies (3)

Mostly those who have been living within the city prefer to stay put rather than moving to the suburbs and so moreover, apart from the lower price tag as compared to a plotted development, maintenance of an apartment is also less costly and cumbersome.

Balwinder Singh,

10th December 2013

Comment

Also demand is driven by the working population in Tambaram that is located at a distance of just around 7 km. Even the excellent connectivity to various parts of the city via the GST and OMR also provide an impetus to residential demand in the locality. The Outer Ring Road is also a major transport corridor Vandalur has to its credit.

Balwinder Singh,

10th December 2013

Comment

Also residential apartments such as 2BHK units are the most supplied in the multi-storey apartments category as well. Within a price range of Rs 25-30 lakh there is a 730-800-sq-ft 2BHK apartment. On the other hand a 1BHK apartment would be available for Rs 15-25 lakh. These are sized from 450-600 sq ft.

Gurmeet,

10th December 2013

Also the a smaller house, 1BHK units are also available within this budget or less. For example one can get a 1BHK unit with size varying from 450-650 sq ft in a price range of Rs 15-24 lakh.

Vivek Kulkarni,

10th December 2013

Hey I think this city is good especially for professionals working in MNCs. It would be easy for them to work and buy a affordable house.

Gurmeet,

10th December 2013

Yes guys, Vandalur is a part of Kancheepuram district which is situated towards the southwest of Chennai city. The locality is strategically located at the junction of the Kelambakkam-Vandalur Road and connects the Grand South Trunk Road (GST) to the Old Mahabalipuram Road (OMR), it gives affordable capital values.

Vivek Kulkarni,

10th December 2013

Comment

Heard that most of the people who still seek an independent home are now moving to the suburbs and even these buyers largely look for already constructed independent units and not plots, due to the budget constraints and convenience.

Supratim,

10th December 2013

Also R A Puram and K K Nagar, are witnessing large-scale re-development. The large independent houses are being demolished and are re-developed as apartments.

Gurmeet,

10th December 2013