Located in South Chennai, and having a strategic location along Grand Southern Trunk road, Chrompet is seeing high demand from the IT professionals for being an end-user destination are.
The connectivity of this centre to many IT hubs has opened up demand form this locality and it has attracted many IT professionals. This centre is also connected to Guindy and Nungambakkam via GST road (NH45).
Since property values is affordable in Chromepet and ranges from Rs 4,100 to Rs 5,100 per sq. ft., buying an apartment of 1000 sq. ft. would cost Rs 40-50 lakh. Chitlapakkam, another locality near Chrompet, offers property within Rs 45-55 lakh. Also places like Nangallur and Madipakkam located 8km away offer affordable housing within a budget of Rs. 45-60 lakh. Thus, Chromepet comes as an affordable choice to those who have a limited housing budget.
Talking about rentals, the presence of several educational institutions, in the locality has spurred a healthy demand for rental housing. Students and IT professionals eye this locality as a temporary abode for its well-built social and physical infrastructure. The monthly rent in Chromepet ranges from Rs. 10,000-11,000 for a 1000 sq. ft. apartment.
Since there is a huge supply of 2BHK properties worth 20-60 lakhs, the Portfolio management experts at Ikia consulting services feel that Chrompet is a stone’s throw away from The Chennai Metro City, and there is an added advantage of getting to stay near the airport.