Real Estate Overview of Virugambakkam, Chennai

Property Prices and Trends

Virugambakkam, Chennai's popular neighborhood, is home to an assortment of property options for both buyers and renters. Its property prices vary widely. Prices start at about ₹ 55.00 lacs, with an average of ₹ 1.77 crore, and can stretch up to ₹ 7.00 crore.

In terms of per square foot, property costs range from ₹ 6,111 to ₹ 11,819, averaging ₹ 11,579 per square foot. In the past six months, there's been an upward trend, showing a positive market shift.

Property Types and Configurations

Within this locality, you’ll find a variety of property types including apartments, builder floors, villas, and plots. These offer different sizes and configurations, suited to various budgets and needs. Flat prices range between ₹ 6,950 and ₹ 12,100 per sqft while builder floors sit between ₹ 3,950 and ₹ 10,600 per sqft.

Rental Market

For renters, Virugambakkam offers a wide selection. Typical 2 BHK flats rent out for ₹18,000 to ₹27,000 per month. Options for 3 BHK and 4 BHK apartments exist too, ranging from ₹45,000 to ₹60,000 per month depending on amenities and location. Many rental homes are gated communities featuring perks like covered parking, balconies, and modern appliances.

Location and Amenities

Virugambakkam is strategically linked to major highways and public transit, boosting its appeal. Proximity to schools, shopping centers, and essential services makes it a highly livable place. Landmarks such as metro stations and malls help enhance this.

Long-term Appreciation

Historically, property prices in Virugambakkam have appreciated strongly. Over the last year, flat prices have risen by 7.6%. Over three, five, and ten years, these increases were 17.8%, 32.7%, and a remarkable 38.2% respectively.

PropertyWala's Insight

If you're thinking about purchasing or renting in Virugambakkam, Chennai, this neighborhood presents a promising market. With rising prices, diverse property options, and great connectivity, it’s appealing to investors and everyday users alike. Long-term growth in property values makes it a sound investment, while the many amenities offer a comfortable living experience. Searching for a fancy villa or a budget-friendly apartment, you'll find something fitting all budgets and tastes in Virugambakkam.