T Nagar Locality Review

Q:

Hi I am staying here for rentals since 2 months. I really liked the locality, I am planning to buy a property here. Please let me know is it good for investment purpose ? How is the connectivity from T Nagar to other parts of the city?

Srinivas , Chennai

21st May 2014

Locality Review in Chennai

real estate

buying property

investment advice

chennai real estate

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Replies (4)

I want to know the current ongoing price trends in T Nagar ? Which are the good projects in T Nagar which is worth investing? Can you tell me the price details as well.

Supratim,

21st May 2014

Comment

@Supratim:
The ROI (Return on Investment) has witnessed an increase of 7 to 14% q-o-q. Average apartment prices in this locality range from Rs. 8,700/- to 13,500/- per sq. ft. Average land prices are Rs. 12,000/- per sq. ft. The growth rate in this area is 7%. Major builders in this area include: Kanakdhara Flat Promoters, Harmony Residences Pvt. Ltd, Star Property Developers. Stamp Duty is 7%, Registration Fees is 1%.

Himani,

21st May 2014

Is the prices negotiable ?? I heard the builder are doing slight negotiations. Do you have any idea how to do negotiations with the builder ??

Supratim,

21st May 2014

@Supratim: You can ask for a discount or negotiate with the builder if the apartment is a pre-launched one. You cannegotiate with the builder if sale of these apartments is slow. You can negotiate if there are only few apartments left.

You can join a group buying portal that brings buyers together for bulk deals and your chances of getting a discount may increase instantly.

Himani,

21st May 2014

p Hey guys can anyone tell me how is the real estate growth here ?How about the electricity and water connection ?

Pranab Malakar,

21st May 2014

@Pranab: T Nagar water supply comes from the Chennai Public Works Department (PWD). The electricity supply in T Nagar is managed by the Tamil Nadu Electricity Board (TNEB). The real estate growth is like it is a Developed area and The Rate of Investment (ROI) is high.

Himani,

21st May 2014

Thanks for the quick response. T. Nagar is an awesome locality to live in heart of Chennai, anyone can stay happily and have lots of place to roam about, especially ideal place for shopaholics and good place for family. Can you name some reputed schools and colleges ? How is the social infrastructure there ?

Supratim,

21st May 2014

Comment

@Supratim: It is centrally located and accessible by all. It has all the needs within its vicinity. This is an ideal place with schools, hospitals, banks and shopping complex in close proximity. Also the business hub of Chennai, the address can spell class and is well known area. Schools such as Anjuman Matriculation Higher Secondary School, Dr. C.L. Mehta Matriculation Higher Secondary School. Colleges such as Shankarlal Sunderbai sashun Jain College for women.

Hospitals such as Bharathirajaa Hospitals & Research Centre, Ganga Nursing Home and Apollo Hospital are in close proximity.

Himani,

21st May 2014

Hey as far as I know It is located in the heart of the city in Chennai. South Boag Road, T. Nagar. Just parallel to Mount Road. Vegetable market, provisional stores are at a stones throw. Temple, Church, Mother Teresa Convent, Spencer Super Market, Hindhi Prachar Sabha, holy angels convent and school, pondy bazaar are in a walkable distance from the site, T. Nagar bus depot and railway station is a 10 minutes-walk from here. Three and five star hotels are just 5 minutes-walk from here. Around 50 IT-Companies are at a 5 minutes-walk.

Closeness to Mambalam railway station of the Chennai Suburban Railway Network has made T. Nagar a favorable residential option among its locals. It is also situated nearby to the Chennai Airport. The bus terminus on Usman Road connects the area to other commercial and residential districts of Chennai. :)

Vivek Kulkarni,

21st May 2014

Comment

Hey Srinivas: Theagaraya Nagar which is popularly known as T.Nagar is one of the popular, developed and crowded residential and commercial destination in Chennai city. Reason for booming real estate is its strategic location, many of the IT parks like Olympia IT Park, DLF Tech Park are in close proximity of this location. A large amount of young student population migrating from different parts of the country and even from across the world has further added to the requirement. Builders are coming up with premium, luxury and ultra-luxury flats in T.Nagar. It is very good for investment purpose as you can get good returns with 3 years.

There are direct buses from all over Chennai including Broadway, Central, Thiruvanmiyur, Tambaram, Velachery and Mylapore. It can be reached through saidapet, Nandanam, Nugambakkam, Ashok Pillar and west Mambalam. The Meenambakkam airport is about 10 kilometers away.

Balwinder Singh,

21st May 2014

Comment