Flats in Thoraipakkam, a smart investment

There has been a downturn in the real estate market of India. This did not have a major impact on the real estate market of Chennai. Chennai and Bangalore are the two important cities of India that did not face the brunt of real estate. The two areas have remained speculation free and are considered to be the end user’s market. In the real estate sector of Chennai, there is something for everyone. You can easily find properties like villas, apartments, flats, studio apartments or builder floors in Chennai. Flats in Thoraipakkam are currently the most talked about area in Chennai. There are also a plenty of affordable housing option in Chennai. Here we are going to discuss some of the most popular localities of the city that must be on every buyer’s radar. 

Perambur: The first most sought after location in Chennai is Perambur. Located in North Chennai, the demand for property in this area is very high. It is in close proximity to areas like Villivakkam, Anna Nagar as well as Ayanavaram. The property rate in this area is approximately 6000 INR per square feet on an average. In case you wish to buy a studio apartment in Chennai, then this is the region where you can get the most budget friendly studio apartment. Usually the popular budget range in this locality falls between 20-40 lacs. The most preferred unit size here is 501 and 75 square feet. Those looking for bigger areas opt for 751 to 1000 square feet range. The number of people buying 2 BHK and 1 BHK apartments is the highest here. 

Medavakkam: Next in the list is Medavakkam. This is another place where you can find budget friendly apartments. Located in the southern part of Chennai, it is in close proximity to other micro markets.

Thoraipakkam: Another popular locality in Chennai is Thoraipakkam. It is located on the OMR and is popular as the Information Technology hub of Chennai. Apartments in Thoraipakkam fall between the price range of INR 5000 to 7000 per square feet. 1 BHK studio apartment in Thoraipakkam will cost you somewhere around INR 40 to 45 lakhs. 2 BHK apartments are also popular followed by the 3 BHK apartments. Flats in Thoraipakkam are also popular and usually fall between 30-75 lacs. Apartments between the size of 751 to 1000 square feet and 1001 to 1250 square feet are the most popular here. 

Pallavaram: Last in the list of most popular localities of Chennai is Pallavaram. The standard property rate here is INR 4500 per square feet. Here the most configurations are 2 BHKs followed by 3 BHKs and 4 BHKs. These usually fall between the ranges of INR 30 to 50 lakhs range followed by the INR 50 to 75 lakhs range.