Anna Nagar: The Most Expensive Residential Area in Chennai

Anna Nagar: The Most Expensive Residential Area in Chennai

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Anna Nagar: The Most Expensive Residential Area in Chennai

Anna Nagar, formerly known as Naduvakkarai is located on the north-western part of Chennai and forms part of Egmore-Nugambakkam taluk. It is named after the Tamil leader C.N Annadurai and is regarded as the one of the prime residential areas of Chennai. It is a planned locality developed by the Tamilnadu Housing Board in the early 1970’s. While developing the plan, lands were allotted to developer residential plots, complexes, wide roads, school zones, bus terminus, and large parks. Anna Nagar is the first and the only township that follows standard addressing system as in western countries.
This locality is proud to be associated with some of the major landmarks of Chennai. One of them is Anna Nagar Tower Park. The main attraction in this park is the 138 feet tower and its skating rink. Other landmarks are Anna Arch and Ayyapan Temple.
Neighbourhood and Connectivity
Anna Nagar is surrounded by some of the developed localities in Chennai; they are Kilpauk, Shenoy Nagar, Koyambedu, Villivakkam, Arumbakkam, Padi, Korattur, Mogappair and Ayanvaram. The modes of transportation in this area are bus and share auto (which is a common mode of transport nowadays). There are two bus terminuses in Anna Nagar, one in east and the other in west. The residents can board buses from any of these depots to reach prominent places in Chennai like Parrys, T.Nagar, Thiruvanmiyur and Adyar. The good news is that proposed metro rail line 2 will pass via Anna Nagar East, Anna Nagar West and Thirumangalam and the work is under construction right now. The metro rail stretch from Chennai to Anna Nagar is proposed to be underground and the remaining stretch will be elevated.
Education, Health care and Entertainment
Anna Nagar is home for some of the reputed schools and colleges in Chennai, they are Chinmaya Vidyalaya, Chennai Public School, SBOA, DAV, Vivekananda Vidyalaya, Anna Adarsh College for Women, Valliammal College for Women and Kandaswamy Naidu College for Men. The health care institutes like Dr. Rangarajam Memorial Hospital, Sundaram Medical Foundation, M V Diabetes Specialty Centre are on the main roads which is very convenient to the residents of flats in Anna Nagar.
Shanti Colony in Anna Nagar was developed as a residential colony but today it is a sprawling commercial street with many shops and other establishments. Today, Anna Nagar is also famous as a shopping zone with lot of brands have opened up there shop here.

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Anna Nagar Roundtana is also a burgeoning high-scale commercial neighbourhood.

Real estate in Anna Nagar
Anna Nagar is a fasted developing locality and is like a mini-city within Chennai. Demand for housing is on rise and the trend of reconstructing independent houses into apartments is catching up fast.
Around 90% of construction that is taking place in the locality is a redevelopment projects and lot of homebuyers prefer them as the newly-developed structures have the best specification and amenities. People want to live in this locality even if it means staying in a rented apartment. Developers are coming up with affordable apartments to luxurious villas and bungalows in this locality. Some of the projects are:
 The Chert Cheateau,
 Newry Park Towers
 Color Grandeur
 GRN Krishna
 Pushkar Divya Nilayam
 Coltan Court
 Pace Prana
 Thulasi Apartment

Most of the housing demands in Anna Nagar is for rented accommodation and homebuyers are interested on grabbing this opportunity for high rental demand in expectation of high rate of appreciation and high rental returns. This locality offers 9-10% rental returns annually.
The locality is witnessing a 5% increase in the return on investment q-o-q. The highest locality price is Rs. 9,600 per square feet, the lowest locality price is Rs. 8,400 per square feet and the average locality price is Rs. 9,000 per square feet. One has to shell Rs.36 per square feet for a rental property in Anna Nagar.
Anna Nagar is a perfect choice for them who want to live in a vibrant area with all the amenities intact.

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