Chromepet's Overview in Chennai

Position and Fame

Chromepet is a popular place in Chennai, famous for a well-developed infrastructure with many amenities. It is favored both for homes and business.

Property Styles

• Home Styles: Chromepet offers several home choices, such as apartments, villas, builder floors, and standalone houses.
• Business Estates: You can also find office spaces and more commercial properties for renting or buying.

Home Prices

Apartment Prices

• Flats: The average price for flats in Chromepet ranges from ₹6,250 to ₹7,800 per square foot. A 1 BHK flat might cost between ₹25.5 lakhs to ₹36.25 lakhs, and a 2 BHK flat can cost more.
• Builder Floors: These are about ₹12 per square foot, a unique rate that might need review.
• Ground: Rates for land vary from ₹5,600 to ₹7,150 per square foot.

Rental Fees

• Flats: For a 3 BHK flat, a rental in the month can be around ₹35,000 for 1,200 sqft.
• Other Estates: Including builder floors, standalone houses, and commercial properties. Prices vary depending on size and type.

Price Changes Over Time

• Yearly Growth: Property values in Chromepet have gone up notably. Flats appreciated by 5.9% in the last year, 31.6% in 3 years, 27.6% in 5 years, and 58.2% in 10 years.
• Current Views: On the other hand, there's been a 10.34% drop in property rates recently, suggesting a cooling market.

Advantages and Services

Chromepet is packed with various services like schools, hospitals, malls, and public transport, making it a desirable spot to live.

Chromepet's Neighborhoods

Different areas in Chromepet have differing price trends:

• New Colony: ₹9,490 average price per square foot.
• Lakshmipuram: Roughly ₹6,022 per square foot.
• Periyar Nagar: About ₹5,510 per square foot.
• Nemilichery: Ranges from ₹8,280 to ₹10,354 per square foot.

PropertyWala's Summary

Chromepet, Chennai offers a great opportunity for people buying or renting due to varied property types, services, and increasing value. It's crucial to keep an eye on current market trends and possible price drops for an informed choice. The area’s rich infrastructure and acceptance make it a good option for anyone thinking of a real estate investment in Chennai.