Overview of Mylapore, Chennai

Mylapore stands out as a historically rich and highly valued residential quarter in Central Chennai, admired for its abundant cultural legacy and contemporary conveniences.

Location and Connectivity

• The area touches famous neighborhoods like T Nagar, Nungambakkam, Alwarpet, Kodambakkam, and Teynampet.
• Major roads such as Anna Salai (Mount Road) and Santhome High Road link the area well.
• The nearest metro is Ashok Nagar (8.2 km) on the Green Line, while Chennai International Airport is 16.3 kilometers away.

Property Prices and Trends

• On average, Mylapore property costs ₹13,967 to ₹17,033 per sqft, shaped by different sources and market dynamics.
• Flat prices may range from ₹13,500 to ₹21,100 per sqft, while land rates lie between ₹23,800 to ₹37,800 per sqft.
• Over the past year, flat rates saw a notable 7.5% rise. Over the past decade, the price increase stood at 30.4%.

Types of Properties

• The neighborhood features diverse property types like apartments, builder floors, standalone houses, and land in different sizes and designs.
• Prominent buildings include Golden Luz Avenue, Casagrand Arcobaleno, and Kgeyes Arulagam.

Rental Options

• Monthly rentals for 1 BHK apartments range from ₹9,000 to ₹11,000.
• Independent houses and villas also available for rent start at ₹7,000 per month.

Social Amenities

• Mylapore houses several malls, including Express Avenue Mall, Ramee Mall, Spencer Plaza Mall, and Forum Vijaya Mall.
• Leading educational institutions like Vidhya Mandir Senior Secondary School, PS Higher Senior Secondary School, Ramakrishna Mission Vivekananda College, Stella Maris College, and Justice Basheer Ahmed Sayeed College for women.
• Apollo Spectra Hospital, Billroth Hospital, and Fortis Malar Hospital are top-tier hospitals.

Cultural Significance

• The area is a vital cultural hub with numerous music sabhas and cultural bodies.
• Mylapore hosts the prominent Madras Music Academy and the Parthasarathy Swami Sabha.

Employment Opportunities

• A cluster of IT parks lies within a 5-10 km radius: Bascon IT Park, Olympia Technology Park, TIDEL Park, Ramanujan IT City, and Ascendas IT Park.
• Major IT and ITes firms such as HP, Dell, Tata Consultancy Services, and Infosys operate in these parks.

PropertyWala’s Conclusion

Mylapore, Chennai, marries historical intrigue with a bustling cultural scene and modern amenities, making it a prime spot for buyers and renters alike. Its robust connectivity, varied property options, and top-notch educational and healthcare facilities make it perfect for investing or relocating. With its steady value rise and current market trends, investing in Mylapore remains a lucrative choice.