The capital city of Tamil Nadu, Chennai is also known as the “Detroit of India” owing to the biggest concentration of India’s automobile industry in this region. This city is the perfect example of a modern cosmopolitan setting, evident from the fact that Chennai ranks third in the percentage of expatriate population in the entire country, preceded by Mumbai and Delhi, respectively.
Hence, it is but obvious to state that Chennai is one of the fastest growing cities when it comes to real estate sector. The city is an amalgamation of several Religious, Social, Economical & Educational centers, which is contributing significantly in providing good returns to the home owners, builders and investors and a safe option for the tenants.
Below, we have listed our top picks for the best residential localities in Chennai. Read on to know about the changing landscape of the city.
> Ambattur– This is one of the most rapidly developing areas of the city. The main attractions of this area are storm-water drain network, Thangal Pond Park and TI Diamond Chain. Ambattur also has many educational institutions, banks, restaurants, malls and religious places, which makes it stand first in the queue. However, the economy of the area is predominantly industrial. The Ambattur Industrial Estate is the largest small-scale industrial estate in South Asia.
> Oragadam– Located on the outskirts of the metro city, Oragadam is fast becoming a resident’s choice owing to its close proximity to the Grant Southern Trunk Road (GST) and NH 4. This region is the biggest automobile hub in South Asia and lies close to the industrial hub of Sri Perumbudur. Presence of educational institutions, banks, entertainment centers and religious places make the region a great choice for property investment.
> OMR (Old Mahabalipuram Road)– OMR, short for Old Mahabalipuram Road is the stretch that extends between Madhya Kailash temple in Adyar and Mamallapuram in Kanchipuram. This area saw its development owing to the emergence of IT companies, which has made it a prominent spot in the real estate market with increased residential and commercial usage demand. OMR houses some of the most noteworthy educational institutions, hospitals and entertainment centers. If you are looking forward to live in Chennai, this area must be in the top of your list.
> Guduvancheri– Also referred to as Kooduvancheri, This area is well developed residential suburb in southwest Chennai. It lies along NH 45 and is surrounded by a plethora of lakes, making the area calm and serene. Its close proximity to IT parks like Accenture, Ford and Mahindra World City has given Guduvancheri a well developed social infrastructure. It houses a police station, a fire station, a number of good educational institutions, banks, hospitals and entertainment centers. It is definitely a great choice for residential property investment.
> Pallikaranai- This is the fastest growing in the city and is increasingly becoming a hot place for investment real estate magnets owing to its close proximity to OMR corridor and the Chennai International Airport. Also, The northern Pallikaranai houses the Pallikaranai Marshlands, one of the biggest wetlands in South India. The investors are using this as a USP and is contributing significantly towards growth of the real estate industry in Chennai.