1. Metro Phase I & II :
Expanded Blue and Green Lines link Koyambedu, Madhavaram, Teynampet and Sholinganallur.
In Q3 2024, Chennai real estate across 87 localities recorded an average land price in Chennai of ₹10,470/sq ft, up 2.69% QoQ. This Chennai property market bulletin dives into posh areas in Chennai like Alwarpet and Teynampet, classic areas in Chennai such as Adyar and Velachery, and emerging corridors like Koyambedu and East Tambaram. From luxury apartments Chennai to budget flats Chennai, our zone-wise breakdown—Elite, Classic, Premium, Affordable and Economic—maps Chennai property rate trends, local amenities, infrastructure drivers and top investment opportunities. Whether you’re scouting land price in Chennai gains or value plays, this report has you covered.
A snapshot of Chennai’s five residential price zones, showing average rates and defining characteristics across 87 key neighbourhoods.
| Zone | # Localities | Avg. Price (₹/sft) | Prominent Highlights |
|---|---|---|---|
| Elite Zone | 7 | ₹23,500 | Luxury apartments Chennai, premium high-rises Chennai |
| Classic Zone | 36 | ₹9,000 | Heritage neighbourhoods Chennai, mid-segment apartments |
| Premium Zone | 17 | ₹15,000 | IT corridors Chennai, serviced apartments Chennai |
| Affordable Zone | 17 | ₹6,500 | Budget flats Chennai, entry-level flats Chennai |
| Economic Zone | 8 | ₹5,500 | Peripheral plots Chennai, long-term capital gains |
Central posh enclave of heritage villas, luxury high-rises and café culture along Anna Salai.
Prime mixed-use district with corporate offices, green corridors and Metro connectivity.
Embassy belt featuring high-end condos, boutique retail and top international schools.
Upscale residential hub bordering Mylapore, with tree-lined streets and an artsy vibe.
T. Nagar adjacent, renowned for elite apartments, shopping streets and cultural landmarks.
Peri-urban plots near OMR, ideal for land banking.
Affordable mixed-use layouts with improving road links
Integrated township with SEZ and residential clusters.
Suburban growth corridor with rail and road upgrades
Industrial belt benefiting from expressway access.
Quarter-on-quarter gains and corrections highlight Chennai’s hottest growth corridors and cooling markets.
| Locality | QoQ Δ % | Key Driver |
|---|---|---|
| Koyambedu | +15.0% | New Metro interchange and bus terminus redevelopment. |
| East Tambaram | +14.5% | Retail hub launches and metro line extensions. |
| Urapakkam | +12.3% | IT park expansions and road-widening projects. |
| Keezhkattalai | +12.0% | Suburban infrastructure upgrades and residential launches. |
| Ambattur Industrial Estate | +11.4% | Metro line rollout and manufacturing-to-residential conversion |
| Raja-Annamalai-Puram | -15.2% | Metro line rollout and manufacturing-to-residential conversion |
| West Mambalam | -14.5% | Market saturation after several premium launches. |
| Chromepet | -7.5% | Oversupply of mid-segment projects. |
| Velachery | -7.2% | Seasonal cooldown following heavy investor activity |
| Ayanambakkam | -5.0% | Peripheral area adjusting to slower infrastructure rollout. |
Chennai’s property appeal is shaped by world-class hospitals, top schools, vibrant retail and leisure hotspots:
Apollo, MIOT and Fortis in Alwarpet/Teynampet elevate premium Chennai real estate demand.
IIT Madras, Anna University and leading schools (DPS, Sishya) underpin rental yields.
Phoenix Marketcity, Express Avenue and T. Nagar markets boost daily footfall and Chennai property rate.
Marina Beach, Elliot’s Beach and Guindy National Park attract lifestyle-driven buyers.
Major transport upgrades are driving land price trends in Chennai across core and peripheral zones:
Expanded Blue and Green Lines link Koyambedu, Madhavaram, Teynampet and Sholinganallur.
Widening and flyovers on Old Mahabalipuram Road enhance IT corridor appeal.
Pallavaram–Thuraipakkam and Chennai bypass corridors improve suburban connectivity.
New campuses along OMR and GST Road sustain high Chennai property market momentum.
Tailor your Chennai real estate strategy to budget, goals and lifestyle:
Alwarpet & Teynampet for 8–10% annual gains, backed by elite infrastructure.
Sholinganallur & East Tambaram deliver 5–7% rental yields near tech parks.
Urapakkam & Thiruporur flats under ₹7,000/sq ft for long-term appreciation.
Small-lot buys along emerging metro corridors (Koyambedu, Keezhkattalai) for 4–6% short-term gains.
Peripheral parcels in Sriperumbudur & Mahindra World City for 10–12% multi-year returns.
Q3 2024’s Chennai real estate trends span luxury high-rises in Alwarpet to affordable plots in Thiruporur. With an average land price in Chennai of ₹10,470/sq ft, the Chennai property market presents diverse opportunities—luxury apartments Chennai, mid-segment apartments Chennai or budget flats Chennai—suited to every investor’s objectives. Use these data-driven insights on Chennai property rate, amenities and infrastructure to navigate the city’s dynamic property landscape.