Properties in Chennai at locations like Tambaram offer great value for money not just because of the quality of the homes but also because of the location.
Tambaram, is a suburb south of Chennai, it has also become an important manufacturing hub where a great deal of manufacturing activity has occurred over the past few years. Most importantly for us however, a great deal of upcoming properties in Chennai may be found at Tambaram, these are being constructed by some of the top builders in Chennai.
When searching for affordable housing in Chennai a buyer may consider upcoming projects in Tambaram which offer 1,2 and 3 BHK flats in Chennai with sizes ranging from 600 square feet for a 1 BHK unit to 1400 square feet for a 3 BHK unit. The upcoming projects in Chennai are expected to be completed by December of next year with prices for individual units ranging from 25 lakhs and 85 lakhs.
Property in Chennai, even at up and coming suburbs is still within the reach of most middle class buyers, of which Tambaram is a prime example. Even though this region of Chennai offers great physical infrastructure and has good quality schools and hospitals; properties in Chennai at Tambaram are evenly priced with most available for less than 1 crore.
A notable development by Vikaan Shelters in Tambaram has 2 BHK flats with a carpet area over 1000 square feet priced at a little over 50 lakhs. This is a prime example of high quality, well designed homes in Chennai priced at a rate within the budget of a middle class family. Other such notable developers in Tambaram with evenly priced homes include Pearl and Marutham Group.
Builders in Chennai largely develop homes knowing that the majority would be bought by end users and not investors. In Medavakkam, Indiabulls is a prime example of a top builder in Chennai constructing homes with this intent; Medavakkam is suburb not too distant from Tambaram with an excellent livability score as it has superb physical infrastructure and good access to social infrastructure. Many good builders in Chennai have developments in this suburb.
Despite a paucity of high end luxury builders, Medavakkam provides good quality homes to middle class families and considering the great connectivity this suburb has with Chennai, it makes a great destination for young families to own a home.
Properties in Chennai at suburbs like Tambaram and Medavakkam are largely priced below 1 crore, a few however may be slightly more expensive; this however is uncommon for these regions of the city. One property by a builder in Chennai has units priced between 50 Lakhs and 1.15 crore, although more expensive than most residential properties at Medavakkam it is still not priced extravagantly and may be within the reach of a few middle class or some upper middle class families.
The tendency of middle class families to live in the suburbs of a large city is not uncommon, new entrants into a city would almost certainly have difficulty living in a home downtown due to the high cost of the property or the high rental. Suburbs like Tambaram and Medavakkam provide the best opportunity for first time home buyers to buy a home; they provide a safe neighborhood with great connectivity to other parts of the city.
Buying property in Chennai at these locations may be ideal for such families.