Best Localities in chennai 2024

Chennai, the Gateway to South India, is a major administrative centre that has been growing exponentially since the late 1990s. Software development and electronic manufacturing companies have boosted the city’s economy greatly, eventually making it a hub for many foreign companies. Some of the top names contributing to the city's growth include HCL, Deloitte, Microsoft, Dell, L&T, BMW, and more. 

Apart from being a booming commercial city, Chennai has a great culture and history, which is reflected in the cityscape and the lifestyle of the people. It is one of the primary modern cities in India and offers a mix of metropolises and suburbs. Chennai has shown immense potential for real estate growth over the past decade, with strong interest shown by investors in localities like Adyar, Porur, and Velachery. Below, you can read more about the city, real estate investment opportunities, lifestyle, and the best places to live in Chennai. 

Top Localities in Chennai

Finding the best area to live in Chennai relies on various factors, such as budget, lifestyle preferences, proximity to the workplace, and available amenities. Here is a list of top localities in Chennai with property rates and rental ranges:

Velachery:

Velachery is one of the best residential areas in Chennai. It is the city's largest commercial hub, providing an ample number of job opportunities. It is well-connected with prime localities like Taramani, Guindy, Perungudi, Nanganallur, Madipakkam, etc., and lies close to the Chennai International Airport. Working professionals prefer to settle in this area. This rapid development has also caused a rise in properties and prices, and it ranks high among the best places for investment. 

Adyar:

Adyar is in the southern part of Chennai. It is among the best places to live in Chennai for families because of the presence of business parks, IT parks, corporate offices, and educational institutes like IIT Madras and Anna University. Gandhi Nagar, Kasturibai Nagar, Nehru Nagar, Shastri Nagar, Indira Nagar, and Venkatarathnam Nagar are the most notable areas here. It is one of the most popular residential areas, ensuring a good return on investment.

Besant Nagar:

Beach lovers can invest in properties in Besant Nagar without a second thought. Residents have easy access to the beach, where they can witness stunning views of Eliott’s beach. Besant Nagar is close to Adyar, Taramani, Velachery, Guidy, Palavakkam, and Madipakkam. It is a peaceful neighbourhood with villas, cottages, and apartments for serene living. 

Vengaivasal:

Vengaivasal is now among the most popular suburban areas in the south of Chennai. Residents have easy access to schools, colleges, hospitals, and restaurants. Vengaivasal is among the best areas in Chennai to invest in property because of its exceptional social infrastructure and robust connectivity throughout the city. Not only this but for someone looking for a balanced life slightly away from the city hustle-bustle, Vengaivasal has various investment options.

Porur:

Porur is a suburban area of Chennai located in the western part of the city. Its strategic locations help people commute easily through the Chennai Bypass Road and Mount Poonamallee Road. This area is a hub for healthcare facilities, from clinics to hospitals and other medical services. Many working professionals prefer staying here because of the proximity to Old Mahabalipuram Road and Ambattur areas. 

Poonamallee:

Poonamallee has the perfect balance of urban and suburban environments. Homebuyers wanting societies with ample amenities and suburban charm prefer to invest in properties here. Located on the Chennai-Bangalore highway, the locality provides easy access to the Chennai Bypass Road, showcasing excellent commute facilities. Poonamallee is a prominent IT hub of the city with good social infrastructure, making it an ideal location to settle in.

Anna Nagar:

Anna Nagar is a posh and well-planned residential area in Chennai. It enjoys excellent road connectivity. Anna Nagar offers many residential properties, such as apartments, villas, and bungalows, for people who want to enjoy a luxurious lifestyle. The property rates are increasing here with every passing day and have continued to show good ROI for investors over the past few years.

ECR (East Coast Road):

ECR (East Coast Road), also known as Muthamizh Arignar Kalaignar Road, connects Kanyakumari to Chennai. It is famous for preserving the heritage of the city and inviting tourist attractions to notable sites like the Muttukadu Boat House, Tiger Cove, and DakshinaChitra. Investors have shown interest in plots and properties to enjoy good ROI here. The rapid development of physical infrastructure to accommodate the growing demand of residents and tourists makes it an ideal investment point. You can find high-end residential options and commercial investment options here.

Pallikaranai: 

Pallikaranai is characterised by its proximity to IT parks, budget-friendly housing options, and potential growth. Over the past few years, this locality has been an attractive choice for people looking for budget-friendly rental and saleable properties. The ongoing development and affordability make it a promising area ideal for investment.

Perumbakkam:

Once a quiet suburb, Perumbakkam is emerging as a residential hub, providing reasonable housing options. You can find many independent houses, gated communities and apartments here. With proximity to the Perumbakkam Highway and the Grand Southern Trunk (GST) roads, it offers easy access to the OMR IT Corridor and the ELCOT SEZ Campus. This is primarily why IT professionals choose to settle here.

Factors to Consider When Choosing a Locality to Live in Chennai

Choosing the best location in Chennai to reside or settle in requires considering several factors like comfort, connectivity, price range, security, and more. The following are the most important deciding factors: 

Rent Range / Rent Trends:

Understanding rental trends across different areas of Chennai is essential. Rental prices are influenced by demand, amenities, and the neighbourhood's popularity. For example, upscale areas like Adyar and Besant Nagar see higher rentals, often between Rs. 20,000 and Rs. 28,000. More affordable areas like Poonamallee and Vengaivasal offer rental housing options ranging from Rs. 13,000 to Rs. 16,000. This variety in rental costs allows residents to select areas that align with their budgets while enjoying proximity to Chennai’s best facilities.

Close to Educational and Workplace Facilities:

Proximity to employment and education locations is important for professionals and families. For tech workers, locations near IT hubs like Taramani or OMR (Old Mahabalipuram Road) are perfect; for those who work in the city centre, Mylapore or Nungambakkam are convenient. Families can be sure their children commute less by selecting neighbourhoods like Velachery or Anna Nagar, located close to reputable schools and universities.

Transportation and Connectivity:

Chennai has a brilliant and established public transit network, including the metro, trains, and buses; hence, the transportation here is simply outstanding. There are fewer congestion and traffic jams here than in other popular cities like Mumbai and Bangalore. Some popular neighbourhoods are easily accessible from areas like Guindy, Saidapet, or Koyambedu, which are well-served by. Living close to a bus depot or metro station can further save time, and everyday commuting is made easier.

Security and Safety:

Security and safety come first while making a real estate investment. Popular localities like Besant Nagar, Adyar, and Velachery are known for their secure environments and are considered the most preferred localities for real estate investments. These areas have low crime rates, which makes them the perfect choice for living, especially for families or single working professionals. Frequent police patrols and the establishment of nearby police stations provide a feeling of security among the residents. 

Availability of Basic Amenities:

Amenities are a must to live a happy life. These locations top the list of residential areas in Chennai because they provide smooth accessibility to essential facilities like malls, markets, theatres, dining options, parks, hospitals, schools, colleges, and others. 

Choosing from this list of localities will help you lead a stress-free life and enjoy a comfortable life. 

Factors to Consider When Choosing the Best Places to Invest in Chennai

Budget and Affordability:

Setting a budget and proceeding with the investment is important before investing in Chennai. Different localities offer different property prices, and selecting the right one depends on one’s financial status. Areas like OMR (Old Mahabalipuram Road) and Sholinganallur offer affordable housing. On the other hand, luxurious areas like Adyar and Anna Nagar are more expensive.

Analysis of the Real Estate Market and Growth Trends:

Understanding market trends is important before making a wise investment. Localities such as Medavakkam and Perumbakkam have shown considerable growth, offering high returns on investment because of the growing number of IT hubs. The city seems promising and has vacant lands to offer, making it suitable for more real estate development in the future. 

Current and Future Infrastructure Projects:

Infrastructure development significantly affects property value. Areas along the metro expansion routes like Alandur and Thirumangalam are experiencing rising demand. Upcoming projects like the Chennai-Bangalore Industrial Corridor and suburban rail expansion in areas like Tambaram make them ideal for investment because of their improved connectivity.

The Environment of Law and Regulation (Taxes and Property Laws):

Being aware of Chennai's property laws, taxes, and regulations is vital. Different regions may have different stamp duty and registration charges. Ensure that the locality follows all regulatory norms, and check if the property complies with legal standards, especially in areas like Velachery and Porur, where unauthorised constructions are more common.

Demand for Rentals:

For investors looking for rental income, areas near business hubs like Taramani and Pallikaranai are ideal because of high tenant demand. With increasing IT companies in these areas, the demand for rental properties remains consistent.

Neighbourhood Amenities:

Look for localities with ample amenities like schools, hospitals, malls, and parks. Places like T. Nagar and Nungambakkam offer excellent social infrastructure, making them attractive for long-term investments and residential living.

Chennai has a lot to offer for exceptional living experiences and cultural blend. From top-notch infrastructure to ample real estate opportunities, this city welcomes people from all walks of life. Be it a student coming in to study or a professional starting their career, one can find the best places to live in Chennai. For investors who keep exploring real estate investment opportunities, Chennai has a lot to offer.