There are villas that falls in the price range of Rs 1-1.6 crore. The city has about 15 projects spread across the South in various stages of development.
Getting villas at a reasonable price is very difficult in Chennai. Now-a-days under-construction villas are priced within Rs 15-20 crore. No doubt there are villas in lesser price range but not that much.
I heard that in OMR there are around 30 new projects Porur, Sholinganallur and East Coast Road (ECR) have about 10 each. There are about 20 project in the price category of Rs 3-6 crore. You can check those projects :) :)