Rajeev Nair, a 42 year old marketing professional, moved to Chennai from Hyderabad in year 2015. After a couple of years, he decided to buy his own house in the city instead of paying rent. He was shelling out a rent of Rs 16,000 per month and in the past 2 years, he ended up burning around Rs 4 lakh as rent for his 3BHK house.
For many people, paying rent makes sense but after a while when they calculate the volume of hard earned money you put it, they find it mind boggling indeed. There are people who pay a modest rent of Rs 15,000-20,000 which does not seem to be too pressing but after 5-10 years when they realise that they wasted several lakhs into rent, they repent.
Rajeev, of course, made the right decision to buy a residential property in Chennai rather than wasting precious time that never comes back. He figured out a budget of Rs 40 lakh and started looking for residential properties in Chennai.
After searching for properties on an online portal, he came across Nanmangalam – a locality situated at a distance of around 10 kms from Velachery and other prime locations such as Tambaram and Chrompet.
The properties at this location are selling in the range starting from Rs 35 lakh. The prices of residential properties in Nanmangalam depend on the size and amenities. The average property prices per square foot are pegged at Rs 3,500. Thus, a decent size 2BHK apartment of 1,000 sq ft generally sells at Rs 34-35 lakh.
Basis the quality of construction, amenities and location, you can also find residential properties in Nanmangalam that are in the range of Rs 4,200-6,200 per sq ft. There are many properties that command premium pricing.
Home buyers can find an ample availability of residential properties in Nanmangalam, but one can easily figure out that the number of ready to move in independent floors is quite high in this locality.
Residential properties in Nanmangalam enjoy a distinct advantage of proximity to prime commercial and residential hotspots. Those working in Velachery or Chormpet can easily commute from this locality. The locality provides access to Old Mahabalipuram Road (OMR) and Grand Southern Trunk (GST) Road. Once you reach any of these roads, you can reach out any locality within the Chennai city quite smoothly.
If you do not have private transportation facility, then there is a wide network of public buses and the social infrastructure is second to none. Here you will find all the amenities right from schools, colleges, healthcare centres, shopping and entertainment zones etc.
Another great advantage that Nanmangalam enjoys is about its proximity to a large forest area. This green belt zone keeps the environment in Nanmangalam clean and green of course.
In overall, residential properties in Nanmangalam make for a sensible choice for people who wish to have a home in Chennai. It has a good location, decent physical and social infrastructure, amenities, connectivity and above all the prices are still falling in the affordable range. What else are you looking for?