Besant Nagar rental values rise

Q: Besant Nagar in South Chennai has seen a rise of 12 per cent in rental values in the last three months. Kindly discuss this news.

Srinivas , Chennai

11th December 2013

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Replies (3)

In short Besant Nagar is considered to be a safe locality and suitable for families and old age people looking for rented accommodation. The area has police station in the name of Shastri Nagar in the vicinity. Apart from this, the area offers good social fabrics such as schools, hospitals and restaurants along the Elliot’s beach.

Vivek Kulkarni,

12th December 2013

Comment

Also the location is in demand from High Net-worth Individuals (HNIs) and expats who prefer premium residences. Also the area’s proximity to OMR, which is an IT corridor, makes it preferred rental destination amongst those working professionals.

Supratim,

12th December 2013

Besant Nagar is one of the premium localities in the city and the high demand and the limited supply have pushed up the rental values in the area. Besant Nagar is preferred because of its proximity to Old Mahabalipuram Road (OMR) and East Coast Road which makes it accessible to other parts of the city.

Himani,

12th December 2013

Comment

The area offers rented accommodation in various sizes that is from 800 to 5000 sq ft. A 2BHK would cost Rs 25,000-35,000 per month and 3BHK can be availed at the rent of Rs 27,000 to Rs 1 lakh per month and a 4 BHK for Rs 50,000 to Rs 2 lakh.

Supratim,

12th December 2013

Besant Nagar in South Chennai which has seen a rise of 12 per cent in rental values in the last three months. The area also offers 2, 3 and 4BHK apartment at an average rent starting from Rs 20,000 and can go up to Rs 2 lakh.

Vivek Kulkarni,

12th December 2013

Comment

@Vivek : A 2BHK is available for Rs 20,000-22,000 per month in Apr-June 2013 quarter today is available for Rs 25,000 and above per month in Besant Nagar.

Supratim,

12th December 2013