[ecis2016.org] Chromepet is one of the posh localities in Chennai. Being one of the oldest residential areas of the city, it is well-planned and has a cosmopolitan population. The locality is very well-connected to all parts of the city
Chromepet is one of the oldest neighborhoods located in the southern part of Chennai. During the British rule, the area was home to the famous Chrome Leather Company after which the present name of the region has been derived. Prior to this, the area was known as Kulasekarapuram. Nearby Chromepet localities include Pallavaram, Tambaram, Chitlapakkam, Thiruneermalai, etc.
You are reading: Chromepet property market: An overview
Being one of the oldest parts of the city, it is one of the premier residential areas as far as Chromepet real estate is concerned. Beautifully planned and landscaped, the area has well-developed social amenities and is home to a cosmopolitan population. The famous Madras Institute of Technology of which former president Dr APJ Abdul Kalam was an alumnus, is located in the area. 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 Chromepet, being one of the noted suburbs of Chennai.
There are a number of noted projects which have come up in the area like Navin Housing Hill View Avenue, Confident Ruby, Navin Housing Skanda, etc. Builders in Chromepet include famed developers like the Navin Housing, Mantri Group, Eesha Constructions, Steps Stone Group who are working on some major projects in Chromepet.
[ecis2016.org] Property rates & trends in Chromepet, Chennai
Connectivity with nearby Chromepet localities
- Chennai Bypass Expressway, Kundrathur Road, Grand Southern Trunk Road and Outer Ring Road, are some of the prominent roads which run though the area.
- The area has an extensive bus service and the Chromepet Bus Stand and Tambaram Bus Stand lie in close vicinity.
- The area has its own suburban railway station. Apart from that, there is a railway station at Tambaram, which is approximately 4 kilometres away from Chromepet.
- The International Airport Metro Station, the St Thomas Mount Metro Station and Alandur Metro Station are also not far.
- The international airport is only about 4 kilometres away from the area.
Employment hubs near Chromepet
- The Olympia Tech Park, Ekkaduthangal and MPL Silicon Towers, are located at an approximate distance of about 15 kilometres from the area.
- The Chennai Trade Centre, the SIDCO Industrial Estate and Guindy, are also approximately 16 kilometres away only.
Chromepet offers very good social infrastructure to its residents. Some of the reputed schools in Chromepet include the Loyola Matriculation Higher Secondary School, Lalaji Memorial Omega International School, Chellammal Vidyalaya Senior Secondary School, etc. Some of the leading hospitals in Chromepet include the Chennai Krishna Hospital, BM Hospital, Hindu Mission Health Services, etc. The Shopping needs of the residents are catered by malls in Chromepet such as the Chandra Metro Mall, Phoenix Market City, Matrix Mall, etc.
Price trends in Chromepet
- Price appreciation—Around 20% in the last one year.
- Current property rates—Rs 3,842-Rs 5,700 per sq ft.
Reasons to invest in Chromepet
Chromepet 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 Chromepet is certainly one of the best places to live in Chennai. Further, considering the price trends in Chromepet 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.
Check properties in Chromepet
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