Overview of Padur, Chennai

Location and Connectivity

• Situated on the Old Mahabalipuram Road (OMR), Padur is in Chennai, a key IT corridor.
• Connections to GST Road and the Bangalore Highway are excellent here.
• Located around 30 km away from Chennai's main downtown, it links to nearby areas like St. Thomas Mount, Kattankulathur, Tambaram, and Urapakkam through the Vandalur-Kelambakkam Road.

Property Types and Configurations

• In Padur, you can find many different residential units such as apartments, villas, and land.
• The apartment offerings go from 1 BHK to 4 BHK, though 2 BHK and 3 BHK are most common.

Property Rates

• Apartments:
  • There is a price range from Rs 4,500 to Rs 6,450 per square foot.
  • The average flat price ranges around Rs 5,450 for square footage.
• Land:
  • Rates for land per square foot are between Rs 3,300 and Rs 5,200.
• Builder Floors:
  • Per square foot prices range from Rs 5,300 to Rs 8,450.

Price Trends

• Short-term:
  • Over the last year, apartment prices have gone up by 12.4%.
  • Land rates moved up 9.9% in the same period.
• Long-term:
  • Apartment prices rose by 29.8% in the last three years and 53.5% in a decade.
  • Land price climbed 41.8% over the last three years and shot up 178.6% in ten years.

Rental Market

• Rents range from ₹14,000 to ₹30,000 monthly, depending on property type and location.
• For instance, a 2 BHK furnished apartment might be rented for ₹20,000 plus maintenance, with a ₹1 lakh deposit.

Infrastructure and Amenities

• Important industrial and residential growths are underway in the area.
• Its closeness to major IT hubs and better social amenities raise its appeal.
• Great roadway connectivities outstrip other transport methods.

Demographics

• Residents mostly come from the IT sector, thanks to the area's close ties to IT hubs.

PropertyWala's Conclusion

Padur, Chennai, looks like a strong choice for both buyers and renters due to its strategic place, up-and-coming infrastructure, and growing property values. From budget-friendly to luxury homes, the variety matches different buyer needs. Its good connections, proximity to IT hubs, and developing social framework make it great for first-time homeowners and investors. With big price hikes expected, investing in Padur is a sound choice for real estate.