Thiruvanmiyur: Rising Property Prices and Rental Returns

An established locality in southern Chennai, Thiruvanmiyur is a popular attraction, even for the locals. Blessed by a serene beach, the location has a lot to offer in terms of real estate prospects.

File photo
File photo

Property prices: Thiruvanmiyur, a prime spot in Chennai, has an array of housing options for prospective homebuyers. Moreover, according to Anarock data, property prices skyrocketed by a whopping 18 per cent from 2015 to 2023. In Q2 2015, the average cost was Rs 10,103 per sq ft, and it rose to almost Rs 11,963 per sq ft by the end of Q2 2023. 

Rental value: One of the largest IT parks in Asia, TIDEL Park is located in the vicinity of Thiruvanmiyur. This has surely worked wonders for rental returns as the officegoers would want to live nearby.

As per Anarock Research, the current rent for standard two-BHK homes at Thiruvanmiyur ranges between Rs 30,000 and Rs 35,000 per month.

Locality and neighbourhood: Sanjay Chugh, city head of Chennai, Anarock Group, shares, “Thiruvanmiyur has transformed into a desirable residential hotspot in Chennai over the years. Besides, infrastructural development has boosted its connectivity to other significant locations in the city. The commercial growth around the locality has also boosted the real estate prospects of the area.”

According to Anarock research, the area in and around Thiruvanmiyur (within a three km radius) has seen new launches of nearly 4,080 units between 2013 and Q2 2023. Currently, there are no major land parcels for large-scale developments available. More than 95 per cent of the new launches have been in the premium or luxury segment priced >Rs 80 lakh. Of the total new launches, at least 58 per cent are ready to move in, 13 per cent will be ready within the next one year while the remaining 29 per cent will take more than one year to complete. From independent floors to mid-rise apartment complexes in Thiruvanmiyur, the options are aplenty.

Connectivity

The area enjoys excellent road connectivity through Rajiv Gandhi Expressway, ECR and OMR. It is also home to the first dedicated office hub of Chennai, TIDEL Information Technology Park. This proximity to the prominent office hubs of the city works to the advantage of the city’s location and thus increases the residential demand in the area. Located just opposite TIDEL Park, the Thiruvanmiyur railway station on the Chennai MRTS provides good public transport to the residents as well as officegoers. The Chennai International Airport is situated just 16 kms from the locality. The nearest Metro station is Little Mount.

Social infrastructure

Thiruvanmiyur is strategically located between OMR and ECR (major IT/ITeS hubs), which gives it a huge advantage. Apart from being an office hub, it is also equipped with excellent social infrastructure and boasts some of the top educational institutions in all of India. Plus, there are top-tier hospitals nearby.

With excellent connectivity, sound social infrastructure and a popular beach, Thiruvanmiyur is a wonderful place to call home.

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