Chennai’s harbor development in the 18th century made it a hub for trade between Europe and India. This metropolitan city was the first one to have a widespread WI-Fi facility and conditional access system for cable television. Apart from these, there are many concepts and implementations that have first been made in Chennai.
The city has also developed as a center of real estate, all thanks to the programs launched by the Government to improve the city’s infrastructural projects. This article provides insights into the rental market of this crowded city.
In Chennai, the capital of Tamil Nadu state, there is a huge demand for 1 BHK flats. People prefer renting flats in areas like Sholinganallur, Old Mahabalipuram road, Adyar, Porur, Kelambakam, Velachery, and Medavakam. Being an old city, there are a number of options to choose from. The average price for renting a 1 BHK flat in this city is Rs. 7500.
Areas like Porur and Adyar offer high-end properties too. In porur, you can rent a luxury segment property in about Rs. 13500 and in Adyar about Rs. 16000 with median values lying at Rs. 12,000 and Rs. 15,000 respectively. You can also find budget accommodations in areas like Kelambakkam and Medavakkam where the average rates are around Rs. 6,500.
Apart from basic 1 BHK homes, you can also find 2 BHK luxury homes in Chennai. People who are planning to settle in the city can opt for 2 BHK flats. It is advisable to look for a two room home in areas like the Old Mahabalipuram road, Thoraipakkam, Sholinganallur, Velachery, and Perugundi. These areas may offer homes that are priced slightly above the average rate of Rs. 12000. Also, there is a lot of price variation seen in areas like Sholinganallur, Velachery, Perugundi and Chromepet. For affordable properties, you can go for areas like Chromepet, Medavakkam and Pallikarana.
People who are looking for 3 BHK luxury homes in Chennai should check out areas like Old Mahabalipuram road, Pudupakkam, Thoraipakkam, and Velachery. The best part is that most of the high localities have their price trends in line. The average price for a 3 BHK flat is Rs. 18000. Homes can be rented in areas like Pudupakkam, Pallikaranai, and Medavakkam at a slightly lower price. You will also find a number of options in the Thoraipakkam, Velachery, and Sholinganallur areas, but with a price range variation.
The rental market of Chennai has seen a lot of fluctuations in the recent years. If you inquire about the property rates in Chennai from any renter, you will surely get a high quotation. But that is the sad truth that the city offers properties at a high price.
Buying or renting properties in Chennai is surely expensive. And even if you are planning to rent luxury homes in Chennai, then you surely know they don’t come cheap. Renting homes in the neighborhood of the city center too is very expensive. Affordable houses to buy or rent are difficult to find in this city.
This is a guest post by Deepak Yewle
The city has also developed as a center of real estate, all thanks to the programs launched by the Government to improve the city’s infrastructural projects. This article provides insights into the rental market of this crowded city.
In Chennai, the capital of Tamil Nadu state, there is a huge demand for 1 BHK flats. People prefer renting flats in areas like Sholinganallur, Old Mahabalipuram road, Adyar, Porur, Kelambakam, Velachery, and Medavakam. Being an old city, there are a number of options to choose from. The average price for renting a 1 BHK flat in this city is Rs. 7500.
Areas like Porur and Adyar offer high-end properties too. In porur, you can rent a luxury segment property in about Rs. 13500 and in Adyar about Rs. 16000 with median values lying at Rs. 12,000 and Rs. 15,000 respectively. You can also find budget accommodations in areas like Kelambakkam and Medavakkam where the average rates are around Rs. 6,500.
Apart from basic 1 BHK homes, you can also find 2 BHK luxury homes in Chennai. People who are planning to settle in the city can opt for 2 BHK flats. It is advisable to look for a two room home in areas like the Old Mahabalipuram road, Thoraipakkam, Sholinganallur, Velachery, and Perugundi. These areas may offer homes that are priced slightly above the average rate of Rs. 12000. Also, there is a lot of price variation seen in areas like Sholinganallur, Velachery, Perugundi and Chromepet. For affordable properties, you can go for areas like Chromepet, Medavakkam and Pallikarana.
People who are looking for 3 BHK luxury homes in Chennai should check out areas like Old Mahabalipuram road, Pudupakkam, Thoraipakkam, and Velachery. The best part is that most of the high localities have their price trends in line. The average price for a 3 BHK flat is Rs. 18000. Homes can be rented in areas like Pudupakkam, Pallikaranai, and Medavakkam at a slightly lower price. You will also find a number of options in the Thoraipakkam, Velachery, and Sholinganallur areas, but with a price range variation.
The rental market of Chennai has seen a lot of fluctuations in the recent years. If you inquire about the property rates in Chennai from any renter, you will surely get a high quotation. But that is the sad truth that the city offers properties at a high price.
Buying or renting properties in Chennai is surely expensive. And even if you are planning to rent luxury homes in Chennai, then you surely know they don’t come cheap. Renting homes in the neighborhood of the city center too is very expensive. Affordable houses to buy or rent are difficult to find in this city.
This is a guest post by Deepak Yewle
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