Overview of Chinmaya Nagar, Chennai

Location and Accessibility

• Chinmaya Nagar is in the western part of Chennai, close to Virugambakkam and Saligramam.
• The area is well-connected with important transport hubs like the CMBT (Chennai Mofussil Bus Terminus) and metro stations for easy access.

Property Prices and Trends

• The average price per square foot in Chinmaya Nagar is around ₹8,196, with a noticeable year-over-year decline of 37.89% in property rates.
• Property prices vary, with 2 BHK resale flats at about ₹40 lakhs and new 3 BHK flats costing up to ₹2.09 crores.

Types of Properties Available

Apartments and Flats

• Many 2 BHK and 3 BHK apartments, both resales and new constructions, are available.
• Built-up areas range from 742 sqft for 2 BHK units to 1400 sqft for 3 BHK units.
• Common amenities include corporation water and drainage services, lifts, 24*7 power backup, security, and sometimes additional features such as gym, CCTV coverage, and rainwater harvesting.

Independent Houses

• There are standalone homes available nearby, like in Sri Iyappa Nagar near Chinmaya Nagar, offering configurations like 2 BHK at prices of ₹50-60 lakhs.

Amenities and Facilities

• Many properties come with modern amenities:
  • Corporation water and drainage facilities
  • Lifts and 24*7 power backup
  • Security with CCTV coverage
  • Gym, recreational areas
  • Reserved car parking slots and bike spaces

Age of Construction

• Housing options range from relatively new to those between 5-20 years old, providing a mix of old and new properties.

Rental Options

• For renters, furnished and semi-furnished apartments start at around ₹18,000 per month plus maintenance charges.

PropertyWala's Conclusion

Chinmaya Nagar, Chennai, features a balanced real estate market with many choices for varied budgets and preferences. The area's connectivity, amenities, and range of property types make it appealing for both buyers and renters. However, the recent drop in property prices might work to the advantage of buyers but could affect sellers. Overall, Chinmaya Nagar provides a promising residential living environment with modern amenities and an easy location.