Looking for a house for rent in Chennai — here are a few areas to search in

In this day and age, living in an individual house is nothing short of the utmost luxury in lifestyle. However, buying a new house or plot is extremely difficult and tricky. Hence, many people try to go for an individual house for rent in Chennai and other metro cities where rates are higher than ever before. If you think about it, there is really not much of a difference when it comes to buying versus renting a new home. A new tenant does not put as much money in to the deal as compared to a person who is buying a new home. He also does not have to make a very long commitment and can easily give up his place of residence whenever he wants if he is dissatisfied with the amenities and conditions.

Image Courtesy : Net

The rise of real estate in Chennai and its surrounding suburbs like Chromepet and Tambaram has been mercurial and a remarkable story. The prices have shot up to such an extent that buying property in such areas has become almost impossible for the same people who could afford luxurious homes in the heart of Chennai a few years ago. This has been fuelled by the rise of the IT, manufacturing and banking sectors in Chennai following several infrastructure projects and special economic zones by the Tamil Nadu administration. However, with a bit of careful hunting, you may still come across affordable, genuine houses or sale in Tambaram.

The average value of residential properties per square feet in Tambaram and Chromepet is about 4900 to 6000 INR. There are a number of residential projects that are offering premium flats at inflated prices. Hence, a number of people are finding it easier to invest in empty plots and build their own house rather than living in an apartment. However, one has to be very careful in choosing the plot because there has been a rise in the number of people who have been misled into investing in a plot which does not suit their requirements.

Although Tambaram has taken time in starting to develop, its infrastructure has now caught up with the capital city of Chennai and properties there are selling like hot cakes, say property experts at property.sulekha.com. Chromepet and Tambaram are merely 5 kilometres apart from each other and within a stone’s throw from Chennai. Chromepet is slightly more premium than Tambaram, although there is almost no difference in the infrastructure and hence it makes sense to invest in a plot in Tambaram rather than Chromepet.