Famous for the Valmiki and Pamban Swamigal temple, Thiruvanmiyur has emerged over the years as one of the most premier locations in the city. The residential settlement in the area boasts some of the most posh localities of Chennai. Proximity to Tidal Park and many major educational institutes have given the region a major boostover…
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Property Management for your Rental Properties, Letting out for rent in Chennai Coimbatore India
Property Management for your Rental Properties, Letting out for rent in Chennai Coimbatore India
Property Management for your Rental Properties, Letting out for rent in Chennai Coimbatore India
As the property market speeds up and buyers actively start looking for properties, the New Year seems to be a little more promising than the previous quarters. With buyers realising the impact of a stable central government, end-users are researching, if not buying, say trend watchers. Where in Chennai should you invest for healthy returns?…
Read MoreChennai The increasing demand for space in the city and long hours of travel from the work place has led many families and IT professionals to relocate to Old Mahabalipuram Road (OMR). With numerous residential projects coming up near work and the additional amenities available at affordable prices here, apartments in OMR are finding many…
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Residential apartment prices have increased marginally in most micro-markets in Chennai between the first and second quarters of this calendar year, the latest residential price index (Residex) released by the National Housing Bank shows.
The growth ranges from 0.75% to 9.4%. The lowest rise in prices was recorded in Mylapore, Adyar, Velachery and Thiruvanmiyur and the highest in Virugambakkam, Anna Nagar, Kilpauk and Nungambakkam.
On a year-on-year basis, the increase in apartment prices ranges between 10% and 43%. Ayanavaram and Purasawalkam registered a 10% increase in April-June 2014, compared to the corresponding period last year and Mylapore, Adyar, Velachery and Thiruvanmiyur recorded a 43% increase.
The indices also show a slide in prices in the five micro markets of Egmore, Chetpet, Ashok Nagar, T Nagar and Saligramam, where the cost of apartments dipped by 1.4% to 7.7% between the first and second quarters this year. On a year-on-year basis, Egmore and Chetpet registered a 13% drop in prices, during which time Ashok Nagar, T Nagar and Saligramam recorded an appreciation of 24%, showing that the cost of apartments increased in these three locations for some time but fell in April-June 2014.
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