Best Residential Areas to Invest in Chennai

Known as the ‘Detroit of India’ due to the presence of top automobile companies in its midst, Chennai is a fast growing metropolitan city that has a lot to offer. As one of the safest cities to live in India, Chennai is exemplified by the fact that it has the third-largest expatriate population in the country.

The city is the hub of Religious, Social, Economical & Educational centres and offers plenty of attractive real estate investment opportunities for the masses.  The real estate sector in Chennai has often proven to be a profitable and secure bet for most investors.

Chennai has grown significantly in the last few years.The standard of living and the educational prospects that the city offers is quite attractive. With increasing population, Chennai’s city limits has grown to accommodate several zones.

Residential Developments have been launched in Ambattur and Oragadam in West Chennai, and Old Mahabalipuram Road (OMR), Guduvanchery and Pallikaranai in South Chennai are amongst the top localities for residential property developments and investment. Let us tell you why you must invest in these areas in Chennai!

1. Ambattur

Tagged as Chennai’s most popular suburb with two lakes, namely Thangal and Ambattur Lake, the Ambattur area is rapidly developing into a hub for real estate. In order to support the boom in the residential real estate market, Ambattur also has a collection of well-known educational institutions, banks, restaurants, malls and religious places.

The famous Ambattur Industrial Estate is the largest small-scale industrial estate in South Asia.Popular companies like Britannia, TVS, and Dunlop have set up their plants here, offering ample employment opportunities for the residents nearby. Popular local channels such as Jaya TV, Vijay TV and the like, broadcast signals from this station. Another important establishment, just 5 km from Ambattur, is Heavy Vehicles Factory (HVF), which produces military tanks.

Ambattur has excellent social infrastructure that can support growing families. It hosts reputed educational institutions like TI Matriculation Higher Secondary School, Sir Ramaswami Mudaliar Higher Secondary School, St. Peter’s Engineering College, NIIT and Velammal Engineering College. Noteworthy hospitals in Ambattur include Sir Ivan Stedeford Hospital, Essvee Hospital, and Teja Hospital.

One thing you do not have to worry about is connectivity. Ambattur has excellent roads that connect it to Karukku Main Road, Pudur Main Road, Surappattu Road, Kallikuppam Road, Chennai-Tiruttani Highway, Chennai Bypass Road, and Tonakela Camp Road connect Ambattur to the rest of Chennai.

 Ambattur Railway Station, Pattaravakkam Railway Station and Thirumullaivoyal Railway are just within 4km from the area, making it easy for people to commute. 

The locality also enjoys proximity to Chennai International Airport, which lies at a distance of around 23 km, and can be reached within an hour via Jawaharlal Nehru Road.

2. Oragadam

This industrial hub located on the outskirts of Chennai offers an extremely attractive real estate opportunity in Chennai. Located between Grant Southern Trunk Road (GST) and NH-4, Oragadam industrial area is the biggest automobile hug in Southeast Asia. It enjoys proximity to the industrial hub of Sri Perumbudur, which is just 15 minutes’ drive away via Sriperumbudur – Thiruvallur – Redhills Road.

Relatively unknown till a few years ago, the region has slowly turned into a multicultural, multi-faceted hub that offers a wide range of educational, entertainment and employment options. Today, some of the world’s leading companies such as Renault, Nissan, Moserbaer, Apollo Tyres, TVS Group of Companies, Ashok Leyland, Vehicle Testing Centre, and Sanmina have set up base in Oragadam.

As a fast growing area, Oragadam is easy to live in. There are several educational institutions, and banks such as State Bank of India, Bank of Baroda, Federal Bank, and Cooperation Bank of India. Apart from vital facilities, the area has numerous religious places like Dhuraimurugar Siva Marabu Sithaananda Dhiyana Sabai, Pillar of Fire of Jesus Prayer House, and Vallakottai Murugan Temple.

Oragadam’s offering has made it one of the most sought after areas of investing in Chennai. Several high profile land developers have begun residential projects there, taking advantage of its social infrastructure. Over 70 per cent are plots and around 20 per cent are apartments. Various builders like Hiranandani, Arun Excello, Tata Housing, and Park City have constructed their residential projects in Oragadam.

3. Old Mahabalipuram Road (OMR)

The 50km stretch that extends from Madhya Kailash temple in Adyar right up to the south of Mamallapuram in Kanchipuram district is known as Old Mahabalipuram Road (OMR) or State Highway 49 A (SH-49A). The road merges with East Coast Road (ECR) and thereby gives one of the most convenient methods of commuting between the localities in Chennai such as Thiruvanmiyur, Palavakkam, and Neelankarai.

Called the IT Corridor of Chennai, OMR has seen the development of this road led to the emergence of IT/ITeS companies such as Satyam Computer Services, HCL Technologies, Accenture India, and Infosys in the area. OMR area has multiples of popular micro-markets such as Taramani, Perungudi, Thoraipakkam, Karapakkam, and Sholinganallur. These pockets have helped spike the demand for real estate and residential projects in the area.

Popular educational institutions situated along this stretch include Sishya OMR School, American International School, Abacus Montessori School, MNM Jain Engineering College, Dhanraj Baid Jain College, and St. Joseph’s College of Engineering.  This area offers premium, multi-speciality hospitals such as Apollo Hospital, Aditya Bone and Joint Clinic, Lifeline, and Global Hospital. 

It also offers excellent road connectivity to destinations such as Mamallapuram, situated outside the city limits.

Market trends suggest that there is a high demand for multi-storey apartments, particularly 2BHK apartments.

4. Guduvanchery

Guduvancheri is a popular suburb located in the south-western part of Chennai along the busy NH-45 that connects Chennai to many other cities of Tamil Nadu. It is located between Tambaram and Chengalpattu, and falls on the Grand South Trunk Road (GST Road).

Surrounded by a number of water bodies, Guduvancheri has quickly risen among the ranks to become one of the most sought after suburban localities in Chennai, because of its locational advantages and easy proximity to several business hubs. It’s serene atmosphere offers a much needed escape from the bustling city life, without making it too isolated.

Guduvancheri is surrounded by areas like Urapakkam, Maraimalai Nagar, Potheri, Adhanur, and many other developing suburbs  that have opened up to various industries. The locality also shares proximity to a multitude of IT Parks like Accenture, Ford, and Mahindra World City.

Educational institutions like Bharathiyar Matriculation Higher Secondary School, Saint Mary’s Matriculation School, Guduvancheri Boys Higher Secondary School, and SIP-Guduvancheri have been set up in this area. Apart from these, a host of SRM Institutions like SRM School of Hotel Management and SRM School of Management fall within a 3 km radius of Guduvancheri.

The area also boasts the presence of high legacy hospitals such as Christudas Hospital, Sri Venkateswara Clinic, Vasantham Clinic, K. R. Nursing Home, and Sumana Goodwill Home. A high number of commercial establishments and allied services lake restaurants, supermarkets, gyms and hotels have been opened up nearby, buoyed by the presence of SRM University and the Crescent College nearby.

Due to an abundance of land availability in the still growing area of Guduvanchery, plenty of real estate developers have been roped in to set up commercial housing projects. Market trends suggest that plots are the most in demand right now, closely followed by apartments.

It is always important to stay ahead of the market trends especially when it comes to real estate. If you invest early, you will be able to reap the benefits of appreciation that comes due to a rise in demand. These areas will help you get a start in your investment journey. If you are looking to purchase residential plots and properties, head to www.wisdomproperties.com and seek the consultation of seasoned real estate agents, who can help you find your dream property!