In recent years, Velachery in South Chennai has witnessed an increased workforce influx from nearby cities as many manufacturing and IT companies have established their base in and around the southern parts of the metropolis. Resultantly, the demand for affordable rental housing and investments for end-use in the localities nearby Velachery has increased significantly.
A Syed Sajit, Owner, Grand Space, Velachery, states, Ekkatuthangal, Perungudi, Taramani, Madipakkam, and Namganallur within a nine km radius of Velachery, are among a few localities that experience high rental demand owing to the availability of several residential options and lower rental values. Most renters here prefer 1 BHK unit as they are easily available within Rs 10,000, the most preferred budget segment by students and young working professionals.
Top places to rent a home within Rs 10,000 near Velachery, Chennai | ||
Localities | Average monthly rentals for a 1 BHK unit | Carpet area |
Ekkatuthangal | Rs 6,000-9,000 | 600 sq ft |
Perungudi | Rs 6,500-9000 | 450 sq ft |
Taramani | Rs 6,000-8000 | 450 sq ft |
Madipakkam | Rs 6,000-9000 | 600 sq ft |
Namganallur | Rs 6,000-10,000 | 650 sq ft |
Source: 99acres
Ekkatuthangal
The neighbourhood of Ekkatuthangal is a popular residential locality offering a mix of independent houses and multistorey apartments. While 2 BHK is the most common room configuration, accounting for approximately 50 percent of the residential inventory, 1 BHK remains the most preferred rental choice in the area, highlights Sajit. Working professionals employed in the Small Industries Development Corporation Ltd (SIDCO) Industrial Estate and DLF IT Park, the major employment hubs about two km and five km, respectively, contribute maximum to the rental demand in Ekkatuthangal. Apart from these, Madras Export Processing Zone (MEPZ), and Special Economic Zone (SEZ), which are operational at a distance of about 14 km, also drive the housing demand in and around Ekkatuthangal.
In terms of connectivity, the famous Grand Southern Trunk Road (GST) cuts through the locality, allowing hassle-free access to public transport. Besides, Ekkatuthangal has a dedicated metro station on Line 2 of the Chennai Metro. The Guindy Railway Station is about four km, and the Chennai International Airport is around eight km away from the locale.
Social facilities in Ekkatuthangal, Chennai | ||
Educational institutes | Hospitals | Shopping centres |
Army Public School | Military Hospital | Ray Mart |
ECI Matriculation Higher Secondary School | St. Thomas Hospital | Sandhiya Departmental Store |
IIM Tiruchirappalli Chennai Campus | Sarava Hospital | Mahalakshmi Store |
Perungudi
Perungudi is a residential cum commercial locality situated about six km from Velachery. According to Senthil Kumar, Owner, Access Homes, Chennai, “Perungudi is mostly dominated by independent houses and mid-rise apartments. The presence of the IT hubs, like SP Infocity, Ascendas IT Park, and Ramanujan IT City in tandem with excellent connectivity and adequate amenities serve as the key growth drivers for the residential rental demand in Perungudi. Moreover, the key micro-markets in southern Chennai like Guindy, Taramani, Madipakkam and Namganallur, surrounding the area, also make it popular among the migrant population. Mostly students and IT professionals prefer the area for renting compact residential apartments.”
Major roads connecting Perungudi to the other prominent areas of the city are Rajiv Gandhi IT Expressway, Inner Ring Road, East Coast Road and Old Mahabalipuram Road (OMR). The Tambaram Railway Station (17 km) and Guindy Railway Station (9 km) are the major railway junctions nearby for inter-city commute. The Chennai International Airport is about 16 km from Perungudi.
Social facilities in Perungudi, Chennai | ||
Educational institutes | Hospitals | Shopping centres |
Indian Institute of Technology (IIT) Madras | Dr Kamakshi Memorial Hospital | Phoenix Market City |
National Institute of Fashion Technology (NIFT) | Fortis Malar Hospital | Vantage Plaza |
Guru Nanak College | Velachery KS Hospital | DLF Mall |
Taramani
Taramani is a prominent location about five km from Velachery. The locality is dominated by independent houses and low-rise apartment projects, mostly 1 BHK and 2 BHK units. It also has many leading educational institutions and IT parks. The area enjoys seamless access to the rest of the city, and the Chennai International Airport (18 km) by OMR, Madhya Kailash Junction and SRP Tool Junction. Besides, a dedicated metro station, Taramani link road being widened to a six-lane stretch and the Chennai Mofussil bus stand nearby; also add to the area’s connectivity quotient.
From a commercial standpoint, Taramani is home to many reputed organisations. The World Bank has one of the largest offices in Taramani apart from the top companies like HCL Technologies, Amazon, Cognizant Technology Solutions and Tata Consultancy Services that keep the housing demand in Taramani high.
Social facilities in Taramani, Chennai | ||
Educational institutes | Hospitals | Shopping centres |
Asian College of Journalism | Apollo Hospitals | Phoenix Marketcity |
Central Polytechnic Chennai | Prashanth Super Specialty Hospital | USHA Company Store |
University of Madras | VHS Multispecialty Hospital |
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Madipakkam
Madipakkam is a developed residential locality in South Chennai and shares proximity to Velachery. It mainly constitutes horizontal residential developments, such as apartment complexes and villas. The area is closely connected to several Information Technology (IT) parks and business centres like SP Infocity, Ascendas IT Park and Olympia Technology Park, situated in Perungudi, Taramani, and the OMR IT corridor.
Among the major roads providing sound connectivity in the area are 200 Feet Radial Road, Grand Southern Trunk (GST) Road, Velachery Main Road and OMR. It is also connected to distant parts of the city via the Velachery Railway Station. The proposed Corridor 3 (Madhavaram to Sholinganallur) under Chennai Metro Phase 2 is also expected to improve the connectivity in the area. Sholingnallur will be the nearest metro station accessible via Old Mahabalipuram Road (OMR) once the metro corridor is operational.
Social facilities in Madipakkam, Chennai | ||
Educational institutes | Hospitals | Shopping centres |
Modern Senior Secondary School | Dr. Kamakshi Memorial Hospital | Grand Square Mall |
Prince Matriculation Higher Secondary School | Saraswathy Multispeciality Hospital | Phoenix Marketcity |
Narayana Olympiad School | Anjakha Hospital |
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Nanganallur
Nanganallur is an established residential locality situated about six km from Velachery and the International Airport. The proximity to these major commercial centres acts as a demand catalyst for the area.
The locality offers ready-to-move-in builder floor apartments mostly of 1 BHK and 2 BHK configurations and boasts quality social and retail infrastructure.
GST Road, Medavakkam Main Road, 200-Feet Radial Road and Palavanthangal Railway Station allow easy accessibility to several employment centres nearby, such as Perungudi, Taramani, Guindy and IT corridor of OMR. Furthermore, Meenambakkam Metro Station (3 km), situated on the Blue Line of the Chennai Metro, connects the area to the Chennai International Airport.
Social facilities in Namganallur, Chennai | ||
Educational institutes | Hospitals | Shopping centres |
Modern Senior Secondary School | Pankajam Memorial Hospital | Phoenix Marketcity |
Chellammal Vidyalaya Senior Secondary School | Hindu Mission Hospital | Grand Square |
Saraswathi Vidyalaya | CM Hospital | Grand Galada Centre Mall |
Apart from the areas mentioned above, you can also find affordable renting options in other localities, such as Gopalapuram, Mylapore, Adyar and Guindy, among others. These sub-pockets also provide easy access to commercial hubs along OMR Road and educational institutes like IIT and NIFT. Also, these areas have sound metro connectivity, which remains the prime preference of students and working professionals
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