Adyar property market: An overview

Adyar is a premier residential area located in the southern suburb of Chennai and on the southern banks of the Adyar River. Nearby Adyar localities include many prominent areas of the city, such as Tharamani, Perungudi, Besant Nagar, Kottivakkam, etc. A variety of projects are available in the area and range from affordable to luxury. There are a lot of reputed builders like Yuga Homes Group, Ramaniyam Group and Nahar Foundation Group, who are working on different projects in Adyar. Some of the premier projects in Adyar include Nahar Foundations Kirwani, Akshaya Homes Oceano, Ramaniyam Classic Rudra, etc.

Due to the entry of various IT majors and other multinational corporations, the city of Chennai has been witnessing a rapid influx of working population from outside. As a result of this, there has been a surge in the demand for residential apartments in Adyar. Although the prices of flats in Adyar 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. The first IT park of Chennai, Tidel is located in Tharamani. The development of many technology and research centres in and around the IT park, have led to the overall development of the area of Adyar.

Adyar 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. The industrial growth and the growth of the IT sector have also led to the development of retail and hospitality sectors in the area.

 

Connectivity with nearby Adyar localities

• There are a few major roads which run through the area – the Durgabai Deshmukh Road, the East Coast Road, the Velachery Main Road and Anna Salai/Mount Road.
• The area has an extensive bus service and the Adyar Bus Stand and the Saidapet Bus Stand lie in close vicinity.
• Adyar has two railway stations – Indira Nagar and Kasturbai Nagar, which are on the MRTS line. Apart from this, there is a railway station at Guindy from which the suburban railway services can also be availed. The railway station is proximately about 6 kilometres away from Adyar.
• The Guindy metro station and the Alandur metro station lie at a close proximity.
• The international airport is located at a close vicinity.

 

Employment hubs near Adyar

• The Tidel Park is approximately 1 kilometre away.
• Ticel Biotech Park, the Ascendas IT Park and the Ramanujan IT City are located approximately 1-2 kilometres from the area.
• IITM Research Park and the Rayala Techno Park are approximately 2 kilometres away.

See also: Property Rate & Trends in Adyar, Chennai

 

Schools in Adyar and other social amenities

Adyar offers very good social infrastructure to its residents. Some of the reputed schools in Adyar include the Hindu Senior Secondary School, German International School of Chennai, and American International School, etc. Some of the leading hospitals in Adyar include the Asian Hospital, Fortis Malar Hospital and Apollo Hospital. The Shopping needs of the residents are catered by malls in Adyar such as the Vantage Plaza, Chennai City Centre, etc.

 

Price trends in Adyar

• Price appreciation – Around 56% in the last one year.
• Current property rates – Rs 10,731-17,921 per sq ft.

 

Reasons to invest in Adyar

Considering the price trends in Adyar and the rising demand, the locality should prove to be a good investment region. There is excellent potential for appreciation of property rates, with a number of projects being developed. Moreover, the area is located at a very close proximity to the IT/ITeS hub and industrial zones of Chennai. The Chennai City Corporation has recently taken over the administration of the area. So, the scope of development of infrastructure facilities is also there. Considering all these factors, Adyar is an excellent place for investment.

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