Area Around Lake in Nungambakkam, Chennai

Location and Conveniences: The Lake Area, located in Nungambakkam, Chennai, stands out for its great position and facilities. Part of Chennai District in Tamil Nadu, India, it boasts excellent connectivity to other city parts. Hence, it's a hot spot for both purchasers and tenants.

Real Estate Valuations: Lake Area features high-value properties in its real estate market. As of 2025, the average cost per square foot here is close to Rs. 16,956. The prices begin at Rs. 16,811 per sqft, with little fluctuation, suggesting stable market value.

Different Kinds of Properties: Potential buyers have a wide range of property types to choose from:

• Apartments: These are the most popular, ranging from budget to luxury. Take Emerald Apartments and Indira Nungambakkam societies; the latter averages Rs. 17,375 per sqft.
• Standalone Homes: More scarce, yet available options, often listed at around Rs. 3.5 Cr for the built-up space.
• Land and Plots: Investment opportunities also exist through buying land or plots.

Market Change Over Time: There's been a noticeable year-over-year drop in Lake Area's property market, falling by 28.2% over the previous year. This trend might suggest that buyers may snag properties for cheaper now compared to before.

Renting Out: Tenants can find both fully furnished and unfurnished apartments in Lake Area. For example, a 1 BHK flat can usually be rented out for about ₹50,000 monthly, plus maintenance fees.

Verdict from PropertyWala

Taking into account the high average costs and the recent drop in property prices, Lake Area offers a mixed bag for investors and buyers. Even if the present prices are down, the excellent location and amenities make it appealing for those keen on investing in top-notch properties. For renters, the fully furnished and well-kept apartments available can offer a cozy living. But, to be fully equipped, it's essential to follow market trends when buying or renting in Lake Area, Nungambakkam, Chennai.