Residential Villas in Chennai Sees a Welcome Rise

Chennai has been touted as one of the vibrant city for real estate. In the year 2000, the turning point for the city came about with the setting up of many IT and ITES companies. This sector brings about many changes in terms of infrastructure across the city. With these sectors, young people are earning a huge sum of money as salary. Thus this let younger generation to look for luxury residential villas in Chennai. Also, many people look for hospitality, malls, International Schools, retails spaces, growth of civic infrastructure etc when buying independent villas.

According to a report, the location like Chrompet, ORR, Tambaram etc in Chennai are boasting a huge number of working population closer to these areas as most prominent IT/ITES hubs are situated here. This makes many professionals to buy residential luxury homes in these places as they can able to reach their work place within mins of time. This has led to increased demand for residential options in the city, especially high-end residential villas in Chennai. Mostly, the projects in Chrompet, Tambaram, ORR and surrounding areas are holding all set of housing needs from apartments within gated community to independent luxury villas. 

The current residential supply of high-end housing units has crossed the limit of 8000 units per year in the year 2013. So when we rewind the speech of real estate experts, by the year 2008, the realty experts gave assurance that the city of Chennai will become the highest economic centre in India within 5 years. At present, the city is moving towards that achievement at fast pace. Now, people who are investing in residential villas in Chennai are guaranteed of high capital value. In this market, the capital value can be between Rs.4800-9000 per Sq.Ft and for high end homes, it is between Rs. 6500 to 13,000/Sq.Ft. This value will climb further within few years.


Connectivity impacting the Growth of Chennai Residential Villas

The South-West micro market of Chennai includes the stretch encompassing of Chrompet, Pallavaram, Outer Ring Road, Inner Ring Road, Tambaram and so on. The residents of villas, apartments and individual homes can easily reach the International Airport within mins. Everything including planned infrastructure like the elevated expressway, the Metro Rail extension, Bus terminus etc are driving people to buy residential villas in Chennai. Also, the State government is itself promoting these localities for future economic activities, which is acting as the key drivers for the development of areas.


The growth of residential services in these areas are moving at fast pace. South-West region of the city are witnessing a significant growth on infrastructure initiatives. These infrastructure initiatives are planned ahead by the State Government ahead of the commercial growth. These places are surely going to be the most promising growth corridors of the city and also hold a huge acre of land parcels for constructing villas, individual homes and mega-raised integrated township projects. Hence, buying residential villas in Chennai are surely going to add on money in the pocket instead of pulling down the investors.