Real Estate Overview of Melakottaiyur, Chennai

Property Prices: In Melakottaiyur, Chennai, the real estate market offers a spectrum of property prices. Generally, the price for properties per square foot hovers around Rs. 4,139. But, the prices fluctuate a lot. The least you might pay is Rs. 1,800 per sqft. Conversely, the top-end properties can ask for as much as Rs. 6,666 per sqft.

Trends and Market Movement: The property market in Melakottaiyur showed a drop of 18.88% over the past year. This suggests the market might favor buyers currently. Yet, present trends hint at good opportunities for both buying and selling properties in this region.

Property Types and Availability: This area offers several property options, including apartments, villas, and housing plots. People who want plots can find them at around ₹42.4 Lac on average. While the median price is ₹37.6 Lac. For apartments and other constructed properties, prices range from ₹27 Lac for a 419 sqft apartment at Rs. 6,443 per sqft, to ₹78 Lac for a 1,105 sqft apartment priced at Rs. 7,058 per sqft.

Rental Market: For individuals in need of rental spaces, there are several options with different pricing. For instance, a 1,065 sqft space can be rented for ₹25,000 per month plus a deposit. Smaller units might cost around ₹11,500 per month plus a deposit.

PropertyWala's Insight

Buying or renting in Melakottaiyur, Chennai? The market now has a mix of chances and points worth thinking about. The average prices and recent market drop make it appealing for buyers. Nevertheless, it's important to look into specific trends and costs within your preferred neighborhoods, since they can differ a lot. With a variety of property options, this area suits both investors and people looking to live there.