Overview of Alwarpet, Chennai

Alwarpet, a distinguished area in Chennai, boasts a dynamic real estate market that serves many buyers and renters.

Property Types

Find all kinds of homes here in Alwarpet:

• Apartments: Available in several buildings, each with different amenities.
• Independent Houses/Villas: Options both semi-furnished and unfurnished with modern features.
• Builder Floors: Part of ongoing residential projects.

Property Prices

• Average Price per Sqft:

  • The usual price of properties in Alwarpet is about Rs. 31,678 per sqft. There's a starting price at Rs. 5,600 per sqft and can go as high as ₹90,000 per sqft.
  • For example, apartments generally cost around ₹21,000 per sqft.

• Land Rates:

  • In Alwarpet, land rates vary between Rs. 26,550 to Rs. 53,400 per sqft.

Price Trends

• Year-over-Year Growth: Property prices in Alwarpet have gone up by 40.98% over the last year.
• Long-term Appreciation: Flat prices have climbed by 5.0% in the past year, 23.5% over the last 3 years, 39.1% in the last 5 years, and 48.4% in the last 10 years.

Rental Market

• Monthly Rent: Rents can range from ₹15,000 to ₹60,000 per month, depending on the property type and size.
• Common Amenities: Many properties feature amenities like corporation water, drainage facilities, 24/7 power backup, lifts, clubhouses, and parking.

Key Amenities and Infrastructure

• Amenities: In Alwarpet, properties often include gyms, clubhouses, lifts, CCTV security, and maintenance staff.
• Location: The area is well-connected and close to many landmarks. Hence, it is convenient and desirable to live here.

Legal and Additional Costs

• Registration and Stamp Duty: Purchasers have to register properties with the local municipal office, which involves stamp duty and registration fees.
• Maintenance Fees: Developers usually charge regular maintenance fees to take care of common areas.

PropertyWala's Conclusion

Alwarpet, Chennai, provides a thriving real estate market with property options ranging from budget to luxury segments. Its solid price appreciation and diverse real estate options make it appealing for both investors and regular buyers. However, it's important to consider legal and additional costs. With its excellent connectivity and modern conveniences, Alwarpet remains a top pick for property buyers and renters in Chennai.