Central
and South Chennai are the most active real estate markets in the city
because of Information Technology and manufacturing have become the two
main drivers of property markets across Chennai. Large- scale
developments are taking place in both these areas. The areas most in
demand are along IT and manufacturing corridors leading to the
commercial hubs. As a result, the Old Mahabalipuram Road, Velachery
Road, Sriperambadur, Porur and Medavakam are all in the list of top 10
localities by demand and supply.Urupakkam, another key developing area, is the entry point to South Chennai. It has started witnessing development in last two years. Majority of the projects are under construction. Builders are mostly small scale and are offering projects in this area within the range of ` 2,500 to `2,800 per sq ft. There are also malls in the planning stage in the area.
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