Overview of Kovalam, Chennai

Location and Accessibility

Kovalam, situated in the south of Chennai, is a coastal area appreciated for its scenic beauty and close proximity to vital landmarks. Located alongside the East Coast Road (ECR), Kovalam connects seamlessly to other city zones. It's near significant markers like Thiruvidanthai, Kelambakkam, and the Old Mahabalipuram Road (OMR).

Property Prices and Trends

• Properties in Kovalam start at about Rs. 1,000 per sqft. The average selling rate comes out to Rs. 6,000 per sqft.
• A major price drop has taken place lately. Rates dropped by 42.31% in the past year, signaling a buyers' market.

Types of Properties Available

Residential Plots

• Available sizes vary widely: from small 1172 sq.ft lots to more spacious areas up to 4200 sq.ft. Prices range between Rs. 1 Cr to Rs. 3.38 Cr, determined by area and layout.

Independent Villas

• These luxury and semi-luxury homes are often gated and come with up-to-date amenities. Prices range between Rs. 99.8 Lac to Rs. 1.90 Cr.

Apartments

• Found in multi-story complexes, these span 2 BHK to 6 BHK layouts. Apartment prices range from Rs. 46 Lac to Rs. 2.75 Cr.

Rental Properties

Apartments and Villas

• Rentals include 2 BHK and 3 BHK apartment units, as well as standalone villas. Monthly rents range from ₹15,000 to ₹35,000. Pricing depends on property size and features.

Key Features

• Many rentals are furnished and feature amenities like security, backup generators, swimming pools, and covered parking.
• Nearby prime spots offer sea views and easy access to schools, hospitals, and other key services.

Amenities and Infrastructure

Educational Institutions

• St Joseph's Higher Secondary School is in close vicinity.

Healthcare

• SUPREME SPECIALITY HOSPITALS and Chettinad Hospital are within reach.

Other Amenities

• The region is near attractions like Kovalam Beach, surf schools, and the Thiruvidanthai Nithyakalyana Perumal Temple.

Investment and Market Trends

• Although there's been a drop in property values, Kovalam is still a great spot for investments due to its beauty, ease of access, and forthcoming infrastructure projects like the Chennai Metropolitan City project.

PropertyWala's Conclusion

Kovalam in Chennai offers an intriguing mix of coastal charm and urban advantages, providing attractive options for both buyers and renters. With a variety of properties accessible, from budget-friendly plots to high-end villas and apartments, Kovalam suits different budgets and preferences. The current trend of lower property rates creates a promising atmosphere for real estate investments. Yet, staying on top of market trends and evaluating the long-term future of the area are crucial before deciding on any property investments.