Overview of Pattabiram, Chennai

Location and Infrastructure

Pattabiram, found in the north-western part of Chennai, has grown into a developing suburb with both residential and commercial activities. Known for its calm and serene atmosphere, this suburb is surrounded by vast green farm lands and several lakes such as Thandurai Lake, Vilinjiyambakkam Lake, Avadi Lake, and Thirunindravur Lake. This area features stable civic infrastructure, which includes a police station, a post office, an electricity board office, and a fully operational railway station. The electrification of the Pattabiram railway lines and the construction of a road-over-bridge at the Pattabiram railway crossing have greatly boosted its development potential.

Connectivity

The ongoing development of the Chennai-Tiruttani Highway running through Pattabiram has made the area easier to access by road. Additionally, the suburban railway network of Chennai offers excellent connectivity.

Residential Market Trends

Property Types and Prices

• Residential Plots: These are readily available and economically priced, with average costs from Rs 1,800 to Rs 3,600 per sq ft.
• Builder Floors: Ranging from Rs 3,600 to Rs 4,950 per sq ft.
• Apartments: With prices between Rs 4,602 to Rs 9,642 sq ft, including prices as low as Rs 1,688 and an average of Rs 4,977 sq ft.
• Independent Houses: These are the most costly, averaging around Rs 3,800 per sq ft.

Year-over-Year (YoY) Growth

• Property values in Pattabiram have risen by 6.74% over the last year.
• Land rates dropped by -13.0%, whereas builder floor prices fell by -3.4% in the same period.

Rental Market

Rental Prices

• A typical house rental fees fall between Rs 5,000 to Rs 7,000 per month. Here are some examples:
  • 1 BHK Houses: ₹ 5,200 - ₹ 8,800 per month.
  • 2 BHK Houses: ₹ 5,150 - ₹ 11,450 per month.
  • 3 BHK Houses: Up to ₹25,000 per month for larger and more luxurious accommodations.

Commercial Market Trends

Commercial Properties

Although Pattabiram is mostly residential, there are commercial properties available. Commercial plots typically average Rs 2,800 per sq ft, spanning prices from Rs 3 to Rs 5.2 crores for mid to large-sized plots.

PropertyWala's Conclusion

In conclusion, Pattabiram, Chennai, provides an appealing opportunity for buyers and tenants alike. It balances both residential and commercial opportunities and boasts improved connectivity and stable infrastructure. The reasonably priced residential plots and homes, combined with the peaceful environment and close proximity to essential services, make it a great choice for residential living and real estate investment. Nevertheless, potential investors should keep track of current market trends, such as shifts in property values, for well-informed decisions. Looking ahead, Pattabiram stands out for future real estate prospects and residential living.