[ecis2016.org] Nanganallur, located very close to the industrial zones and IT parks of Chennai, is a rapidly-developing area of the city. The area has good civic amenities and is very well-connected to other parts of the city
Nanganallur is a premier residential area located in the southern suburbs of Chennai. Nearby Nanganallur localities include many famous areas of the city, such as the Anna International Airport, St Thomas Mount, Adambakkam, Trisulam, Madipakkam, etc. A variety of projects are available in the area and range from affordable to luxurious. There are a lot of reputed builders like the Navin Housing, Sreenivas Housing and Siddhartha, who are working on their different projects in Nanganallur. Some of the premier projects in Nanganallur include Navin Housing Dheeraikya, Navin Housing Sumathi, etc.
You are reading: Nanganallur property market: An overview
The area lies very close to IT hubs of Chennai. As a result, there has been a surge in the demand for residential apartments in Nanganallur. Although prices of the flats in Nanganallur are going up at a rapid pace, still, affordable housing to suit the needs of the mid and the junior-level executives of the various companies, can be found here.
Read also : Stamp duty and registration charges in Lucknow
Nanganallur has been recently brought under the purview of the City Corporation of Chennai and the plans for a number of infrastructure projects have been drawn up. The civic amenities have also improved here. The industrial and IT sectors’ growth, have led to the development of the retail and hospitality sector, as well.
Connectivity with nearby Nanganallur localities
- There are a few major roads which run through the area, i.e., the MKN Road, Anna Salai Mount Road, Inner Ring Road and Grand Southern Trunk (GST) Road.
- The area has an extensive bus services and the Tambaram Bus Stand, Guindy Bus Stand and Chrompet Bus Stand lie in close vicinity.
- There are railway stations at Tambaram and Guindy, which are approximately 12 kilometres and 5 kilometres (respectively) from Nanganallur.
- The Guindy Metro Station and the International Airport Metro Station are also not far.
- The international airport is also close from the area.
[ecis2016.org] Property rates & trends in Nanganallur, Chennai
Employment hubs near Nanganallur
- The MPL Towers is located approximately 5 kilometres from the area.
- The Olympia Tech Park and Ekkaduthangal are located approximately 6 kilometres away.
- The SIDCO Industrial Estate and Chennai Trade Centre are approximately at a distance of 7 kilometres away from the locality.
Nanganallur offers very good social infrastructure to its residents. Some of the reputed schools in Nanganallur include the Modern Senior Secondary School, New Prince Matriculation Higher Secondary School, Rosary Matriculation Higher Secondary School, etc. Some of the leading hospitals in Nanganallur include the Vijay Hospital, Miot Hospital, BM Hospital, etc. The shopping needs of the residents are catered by malls in Nanganallur such as the Phoenix Market City, Forum Vijaya Mall, Matrix Mall, etc.
Price trends in Nanganallur
- Price appreciation—Around 63% in the last one year.
- Current property rates—Rs 5,008-Rs 9,000 per sq ft.
Reasons to invest in Nanganallur
Nanganallur lies very close to the IT parks and industrial zones of Chennai. Also, Chennai City Corporation has recently taken over the administration of the area, so the scope of development of infrastructure facilities is good in the region. Further, considering the price trends in Nanganallur 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 the area will only grow further.
Check properties in Nanganallur
Copyright belongs to: ecis2016.org