Anna Nagar property market: An Overview

Developed by the Tamil Nadu Housing Board in the 1970s, Anna Nagar was originally a suburban village known as Mullam village. It is still referred by its old name for all official purposes. Today, it is one of the premier residential areas of north-western Chennai. Anna Nagar is the first and only area in Chennai to follow a standard system of addressing which is seen in western world. Over the years, the Anna Nagar real estate market area has grown into one of the most sought-after regions in the city. It has all the facilities which are required for a modern-day lifestyle.

 

Some of the premier educational institutions and medical centres are located in Anna Nagar. The area has a landmark arch known as the Anna Arch. The Arch marks the entrance of the southern part of Anna Nagar. It was built by the Corporation of Chennai, to commemorate the platinum jubilee of former chief minister CN Annadurai, after whom the area is named. Apart from the Arch, there is a landmark tower known as Anna Nagar Tower as well in the area, which was built for the World Trade Fair, held in 1968 here. Later on, the area was developed into one of the prime localities of Chennai. The most amazing feature of the area is the layout of the roads here. Just like the western countries, the roads here are laid following a matrix system and are parallel and perpendicular to each other. In addition, a standard naming nomenclature is adopted with 2nd, 4th and 6th venues running from east to west and 1st, 3rd, 5th and 7th avenues running from north to south.

Being very well-planned and designed and having abundance of facilities and excellent connectivity, Anna Nagar has grown into one of the most expensive and prime residential area of Chennai. There are several new infrastructure projects which are being carried out in the area. Once these projects are completed, it will definitely shoot up the demand for apartments in Anna Nagar.

 

Connectivity with nearby Anna Nagar localities

• The Anna Nagar railway station forms a part of the suburban train services in Chennai.
• There are two bus stands i.e., Anna Nagar West and the Anna Nagar East in the area. While the West terminus is located on the inner ring road, the East terminus is situated near the roundtana.
• The CMBT bus stand also lies in close proximity.
• The international airport is located at a distance of 16.5 kilometres from the area.

 

Employment hubs near Anna Nagar

• The Prince Info Park is located approximately at a distance of 3 kilometres.
• The Quanta Engineers, the Ambattur Clothing Co and One India Bulls Park, are located at a distance of approximately 4 kilometres.
• The AR Foundations Acropolis and the Ambattur Industrial Estate is also approximately 6-7 kilometres away from the area.

See also: Property Rate & Trends in Anna Nagar, Chennai

 

Schools in Anna Nagar and other social amenities

Anna Nagar offers very good social infrastructure to its residents. Some of the reputed schools in Anna Nagar include the Chennai public School, Chinmaya Vidyalaya, Jaya Maaruthi Sangeetha Vidyalaya, etc. Some of the leading hospitals in Anna Nagar include the Aashiana Hospital, Madras Medical Mission Hospital, Frontier Lifeline Hospital, etc. The shopping needs of the residents are catered by malls in Anna Nagar such as the Golden Shopping centre, Indira Arcade, Ampa Skywalk Mall, etc.

 

Physical infrastructure in Anna Nagar

• Two underground metro stations i.e., the Anna Nagar Tower and Anna Nagar East are currently under-construction and will ensure smooth commuting once completed.
• A flyover connecting Anna Nagar with Aminjikarai, is also under-construction and once completed, this will lead to less traffic congestion in the area.

 

Price trends in Anna Nagar

• Price appreciation – Around 35% in the last one year.
• Current property rates – Rs 7,800-Rs 13,990 per sq ft.

 

Reasons to invest in Anna Nagar

Anna Nagar possesses many gated communities and luxury apartments. It offers excellent connectivity and social infrastructure and these are the major reasons for its rapid growth. Thus, there is no denying that Anna Nagar is certainly one of the best places to live in Chennai. Further, considering the price trends in Anna Nagar and the rising demand, the locality will definitely prove to be a good investment region in future. There will be excellent appreciation of property rates in the area and with a number of projects in Anna Nagar which are being developed, the area will only grow further.

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