[ecis2016.org] One of the oldest areas of Chennai and a major defence area, Avadi is a prominent residential locality and is very well-connected to all parts of the city
Avadi is one of the oldest neighborhoods located in the northern suburbs of Chennai. It has a number of defence establishments and also houses a number of IT/ITeS and other service sector companies. Over the years, the area has grown into one of the most sought-after markets in Chennai real estate. Avadi has all the facilities which are required for a modern-day lifestyle. Nearby Avadi localities include Arumbakkam, Ayanavaram, Koyembedu, Anna Nagar, Aminjikarai, etc.
You are reading: Avadi property market: An overview
Being one of the oldest parts of the city, it is one of the premier residential areas as far as Avadi real estate is concerned. Beautifully planned and landscaped, the area has well-developed social amenities and is home to a mixed population. Many premier educational institutions are located in the area. The locality also has a lake, which attracts different migratory birds during different seasons. Due to the advent of various IT majors and other multinational corporations, Chennai has been witnessing a rapid influx of working population from outside. As a result, there has been a surge in the demand for residential apartments in Avadi, being one of the noted suburbs of Chennai.
There are a number of noted projects which have come up in the area like VGN Aviv Court, VGN Hazel, Mahindra Lifespaces, Happinest, etc. Builders in Avadi include famed developers like the Mahindra Lifespaces, VGN Group, Steps Stone Group, etc., who are working on some major projects in Avadi.
Connectivity with nearby Avadi localities
- Avadi-Poonamallee High Road, Kovilpadagai Main Road and Chennai-Tiruvallur High Road are some of the prominent roads which run though the area.
- The area also has an extensive bus service and the Avadi Bus Stand, Anna Nagar Bus Stand, Koyembedu Bus Stand and the CMBT lie in close vicinity.
- The Avadi and Ambattur railway stations are located very close to the area and form a part of the suburban train services in Chennai.
- The Chennai Egmore Metro Station and the Koyembedu Metro Station are not very far too.
Employment hubs near Avadi
- The Prince Info Park IT is located approximately at a distance of 13 kilometres.
- The Quanta Engineers, the Ambattur Clothing Co and One India Bulls Park, are located at a distance of approximately 14-15 kilometres.
- The AR Foundations Acropolis and the Ambattur Industrial Estate are approximately 15 kilometres away from the area.
- The Tamil Nadu Industrial Development Corporation and the Madras Stock Exchange are at a distance of approximately 20 kilometres from the area.
Schools in Avadi and other social amenities
Avadi offers very good social infrastructure to its residents. Some of the reputed schools in Avadi include the Spartan Matriculation Higher Secondary School, Ebenezer Marcus International School, Kendriya Vidyalaya Senior Secondary School, etc. Some of the leading hospitals in Avadi include the Sir Ivan Stedeford Hospital, Madras Medical Mission Hospital, Frontier Lifeline Hospital, etc. The shopping needs of the residents are catered by malls in Avadi such as the Chandra Metro Mall, Forum Vijaya Mall, Ampa Skywalk Mall, etc.
Price trends in Avadi
- Price appreciation—Around 24% in the last one year.
- Current property rates—Rs 2,971-Rs 4,011 per sq ft.
Reasons to invest in Avadi
Avadi possesses many gated communities and luxury apartments. It offers excellent connectivity and social infrastructure and these are the major reasons for its rapid growth. Thus, there is no denying that Avadi is certainly one of the best places to live in Chennai. Further, considering the price trends in Avadi and the rising demand, the locality will definitely prove to be a good investment region in future. There will be excellent appreciation of property rates in the area and with a number of projects which are being developed, the area will only grow further.
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