Overview of Kovilambakkam, Chennai

Location and Accessibility

Kovilambakkam is a suburb in South Chennai known for its strategic spot and connectivity. This region is close to major landmarks like the 200 Feet Radial Road and well-linked to other areas in the city using different transportation methods.

Property Price Trends

• Properties in Kovilambakkam start at Rs. 4,265 per sqft, and the average price is Rs. 6,661 per sqft.
• Prices range between Rs. 4,265 and Rs. 10,525 per sqft.

Types of Properties Available

• Apartments: These range from 1 BHK to 6+ BHK, starting from 38 Lakhs to 1.42 Crores.
  • 2 BHK apartments: Prices vary from 38 Lakhs to 91.99 Lakhs.
  • 3 BHK apartments: Prices range from Rs. 1.22 Crores to 1.42 Crores.
• Independent Houses and Villas: Though less common, these are still available.

Popular Projects and Societies

• TVS Emerald Elements: Offers luxury homes priced between 79.98 Lakhs and 1.42 Crores.
• NCC Ivy Towers: A mixed development project with 2 and 3 BHK flats at Rs. 10.03 K/sq.ft.

Rental Market

• Rental Prices:
  • 1 BHK flats: Monthly rent falls from Rs. 6,500 to ₹35,000.
  • 2 BHK flats: Monthly rent ranges from ₹13,000 to ₹20,000.
  • 3 BHK flats: Monthly rent goes from ₹15,000 to ₹38,000.
• Average Rent: For a 2 BHK flat, monthly rent is about Rs. 11,800.

Amenities and Infrastructure

• Educational Institutions: Nearby schools include Narayana e-Techno School and SRM Public Schools.
• Healthcare: Hospitals such as Kauvery Hospital, VayuShri Hospitals, and Kamakshi Hospital are within reach.
• Other Facilities: Properties often have features like covered parking, balcony, and maintenance services.

Market Trends

• Year-over-Year Growth: Property rates have dropped by 5.35% in the last 12 months, reflecting a stable market.
• Price Movement: A stable and slightly declined market makes it profitable to buy or sell in Kovilambakkam.

PropertyWala's Conclusion

Kovilambakkam, Chennai, presents a well-balanced real estate scene with a variety of properties ranging from affordable to luxurious. Its good links to different parts of the city, proximity to educational and medical facilities, and notable builders make it ideal for investors and renters. The slight drop in property rates provides a window for those seeking value in property deals. Essentially, this suburb offers promising opportunities for investment and living in a well-linked, resource-rich area of Chennai.