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Chennai, one of India's most thriving and bustling cities, has a vast array of neighbourhoods and localities that are highly sought after by real estate investors and homebuyers. While certain areas like Adyar, Besant Nagar, and T. Nagar have been in the limelight for years, several offbeat localities offer tremendous potential for real estate investment with more affordability. In this blog, we'll delve into some of Chennai's lesser-known but promising localities that you should consider if you're looking for a value-for-money investment.
Pallikaranai:
Located in the south of Chennai, Pallikaranai is a fast-developing neighbourhood that showcases a blend of both urban and rural lifestyles. The locality is known for its vast green spaces and is home to one of India's largest wetlands. Pallikaranai is becoming increasingly popular with investors seeking to buy real estate at affordable rates while still enjoying access to a range of amenities. The locality offers easy connectivity to IT hubs like Velachery and Guindy, making it an appealing location for young professionals and families.
Chrompet:
Chrompet, situated in the southern part of Chennai, has seen rapid development in recent years and is now emerging as a micro-market for real estate. The locality enjoys excellent connectivity to nearby areas such as Tambaram, Pallavaram, and the Chennai Airport. Chromepet also offers a range of infrastructural facilities like hospitals, schools, and shopping centres, making it a prime real estate investment location for those looking to buy their first home.
Padur:
Situated in Chennai's Old Mahabalipuram Road, Padur is a promising locality that is slowly gaining recognition for its affordable yet high-quality real estate options. The area is currently undergoing significant development, with multiple apartment projects and villas coming up. Padur also offers easy connectivity to IT hubs like Siruseri and Sholinganallur, making it a great option for young professionals working in and around the area.
Pattabiram:
Pattabiram is a locality situated in the western part of Chennai that is slowly gaining popularity among investors looking for low-cost properties. The locality boasts excellent connectivity to nearby areas such as Avadi, Ambattur, and Thirumullaivoyal, making it an attractive location for people working in the surrounding suburbs. Pattabiram offers a range of affordable apartments and villa projects, making it an ideal option for those looking to invest in a new home.
Medavakkam:
Medavakkam is a locality in South Chennai that is rapidly developing and gaining recognition for its affordability and range of infrastructural facilities. The area offers easy connectivity to popular residential areas like Velachery and OMR and has excellent access to healthcare facilities, schools, and shopping centres. Medavakkam also has a large supply of affordable apartment complexes, making it an appealing location for those looking to buy their first home.
Chennai offers an array of investment opportunities for real estate buyers and has several hidden gems that can provide lower price entry points and high appreciation potential. While these localities may not have gained as much attention or recognition in the past, they are gradually emerging as micro-markets with a range of infrastructure and amenities. The combination of affordability, connectivity, and the availability of high-quality infrastructure makes these localities prime investment options. Whether you're looking for a value-for-money investment or looking for an apartment in Chennai or properties in Chennai, it's worth considering these hidden gems to explore and take advantage of the growth potential they offer.
