Northern part of Chennai is where the real estate market of
the city is growing. Here is a look at two micro markets located in this part
of the city.
Avadi
The going rate for apartments
in Chennai located in Avadi stands at INR 3400 per square feet on average.
This was a drop of about 10% when compared to the previous quarter when the
prices stood at INR 3700 per square feet on average. In the third quarter of
2013 the going rate for apartments here INR 3900 per square feet which was an
increase of about 9% when compared to the second quarter. The last quarter of
the year saw a drop in prices where the prices stood at INR 3100. This was a
drop of 19% when compared to the previous quarter. The going rate for properties in Chennai such as
individual homes and villas located
in this micro market stands at INR 5200 per square feet on average. A year ago
the going rate for these properties stood at INR 4800 per square feet on
average.
2 BHKs are the most sought after apartment configuration in
this micro market. This is followed 1 and 3 BHKs. Buyers mostly prefer to spend
anywhere between INR 10 to 20 lakhs on properties
in Chennai located in this micro market. This is followed by the INR 20 to
30 lakhs range. Buyers are willing to spend an amount which is equal to INR
2000 per square feet. This is followed by the INR 2001 and 2500 per square
feet. The most preferred unit size for apartments here falls between 751 and
1000 square feet.
Ambattur
The going rate for individual house for salein Chennai located in Ambattur stands at INR 5500 per square feet on
average. This was an increase of about 16% when compared to the previous quarter
when the prices stood at INR 4700 per square feet on average. In the third quarter
of 2013 the going rate for apartments here INR 4300 per square feet which was a
drop of about 6% when compared to the second quarter. The last quarter of the
year saw a drop in prices where the prices stood at INR 6000. This was a
tremendous increase of 40% when compared to the previous quarter. The going
rate for properties in Chennai such
as individual homes and villas located
in this micro market stands at INR 5300 per square feet on average. A year ago
the going rate for these properties stood at INR 4200 per square feet on
average.
2 BHKs are the most sought after apartment configuration in
this micro market. This is followed 1 and 3 BHKs. Buyers mostly prefer to spend
anywhere between INR 20 to 30 lakhs on propertiesin Chennai located in this micro market. This is followed by the INR 10 to
20 lakhs range. Buyers are willing to spend an amount which is equal to INR
2000 per square feet. This is followed by the INR 3501 and 4000 per square
feet. The most preferred unit size for apartments here falls between 751 and
1000 square feet.
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