CHENNAI: Valasarawakkam, one of the hottest property destinations in Chennai today, is situated on the South-west of Chennai between Virugambakkam and Porur on the East and West and bordering Ramapuram and Maduravoil in the South and North directions. It has witnessed rapid real estate activities in the last few years. Valasarawakkam was recently annexed to Greater Chennai in the year 2011. Since then it has been seeing growth both, in terms of inventories and demands. Thus, it has been showing good price increase compared to many other localities of Chennai.
There is a mix of population here. The middle class, both upper and lower, is the dominant segment. Lot of new construction activities, by way of fresh and re-development are happening in the locality, leading to good supply to match the increasing demand.
It has a network of good and well illuminated roads, fully strengthened social infrastructure, by way of under-ground sewers, storm water drainage, piped supply of potable water and seamless connectivity to every corner of the city. This has been the reason for the steady upward movement of property prices in and around Valasarawakkam in the last few years. While several other localities have been hit even with negative returns, Valasarawakkam was among the very few which showed close to 40 per cent appreciation in the last couple of years.
Valasarawakkam is also a very important retail hub with several high street shopping centres and large malls in the vicinity. Most of the big brands in clothing, fashion accessories, jewelleries and restaurants have their presence here. It also boasts of having some of the best names in education and healthcare within a radius of 4-km. Proximity to places like Vadapalani, KK Nagar, Ramapuram, Guindy, Koyambedu make this locality one of the most sought after in Chennai.
Several builders, offering gated community life style, have been active in the area. Ceebros, Vijayshanthi, Puravankara, Jains, Lancor are some of the few who have successfully completed their projects here or have under-construction projects.