Top 10 Places for Land Investments in Chennai 2024

Recently, real estate in Chennai, especially the city’s suburbs, has been on fire. Recent research from Anarock indicates that residential laun- ches in Chennai increased by 34% in 2023 compared to 2022, with most of this expansion occurring in the suburbs. Real estate invest- ments have been booming in the city due to the high demand for land caused by its growing infrastructure, IT, and industrial clusters.

Specifically,the demand for plots for sale in OMR has increased multifold, JLL India predicts that Chennai's real estate market will grow by about 15% per year in the coming years. Due to this fast growth, investing in land on the outskirts of Chennai has become a popular choice for people seeking long-term profits.

This blog will look at Top 10 places for land investments in Chennai expected to experience significant growth in the coming years, starting in 2024. In anticipation of future infrastructural projects, more industrial activity, and better connectivity, these locations have become popular choices for real estate investments.

Why Chennai Suburbs Are Growing Fast

The suburbs of Chennai are seeing explosive growth for several important reasons:

• Infrastructure Development: New airports, metro extensions, and highway developments make these areas desirable places to live and do business.
• IT and Industrial Growth: The proliferation of information technology (IT) parks, industrial hubs, and manufacturing units in the Chennai area has resulted in a constant need for residential and commercial real estate.
• Affordable Land Prices: Suburban land is more inexpensive than city center land, making it a great investment opportunity when demand rises.
• Government Initiatives: Investors are drawn to these suburbs even more because they are being developed due to multiple government initiatives, like the Smart City Mission and the Chennai-Bengaluru Industrial Corridor.

Top 10 places for Land Investment in Chennai

• Parandur

Due to the new greenfield airport, Parandur is becoming more famous. Thanks to this massive infrastructure project, the area is poised to become a hotspot for residential and commercial developments. The airport is expected to improve connectivity and provide job possibilities greatly. Not only will the airport make travel easier, but it will also encourage local businesses to set up shop. Land investors seeking long-term gains will find Parandur attractive among the top 10 places for land investments in Chennai due to its strategic position and potential for future growth.

• Madambakkam

A peaceful and conveniently located suburb of Chennai, Madambakkam is quickly gaining popularity as a place to call home. The area is well-connected to important city areas due to its closeness to Tambaram and the Chennai Outer Ring Road (ORR). The abundance of schools, hospitals, and retail areas drives housing demand. If you're looking to invest in land in the foreseeable future, Madambakkam is a great choice for people finding flats in Tambaram East or plots in Tambaram zone because it combines urban convenience with suburban calm.

• Guduvanchery

Because of its closeness to major information technology (IT) centers like Siruseri and Sholinganallur and its reasonably priced housing alternatives, Guduvanchery has become a popular residential area. Property prices will likely rise due to the increased demand for housing brought about by the anticipated extension of the Chennai Metro to this area. Guduvanchery's attractiveness is enhanced by its well-established social infrastructure, which includes schools, hospitals, and shopping centers. The region's consistent growth and rising house demand bode well for land investors making it one among top 10 places for land investments in Chennai

• Mahabalipuram

Mahabalipuram is becoming more than simply a tourist hotspot, thanks to its renown for historic sites and coastal resorts. Commercial and residential developers are taking notice of the area because of its historical importance and picturesque charm. Mahabalipuram is becoming an appealing investment destination due to its planned improvements to its road network and forthcoming industrial corridors. Consider Mahabalipuram if you are an investor seeking land with development and tourism possibilities.

• Thiruporur

In recent years, rapid development has been witnessed at Thiruporur, part of the Chennai IT corridor. Because of its convenient location near Old Mahabalipuram Road (OMR) and several IT parks, it is a popular choice among tech professionals seeking a house. With better road connectivity and other infrastructural developments, Thiruporur is set to experience even more expansion in residential demand, making it an ideal choice for top 10 places for land investments in Chennai. Land investors looking to develop residential buildings in the future should consider this area.

• Sriperumbudur

Many electronics and car factories call Sriperumbudur, one of Chennai's major industrial areas, home. This area is strategically important as an industrial zone because of the good road connections to Bengaluru and Chennai. Sriperumbudur is quickly rising among desirable real estate markets due to its proximity to established industries and the future Chennai-Bengaluru Industrial Corridor. Thanks to the constant stream of construction projects and new jobs, there will be room for expansion in the future.

• Redhills

In northern Chennai, Redhills is a vital water reservoir for the city and is starting to make a name for itself in the real estate market. Thanks to better road networks and the extension of the Chennai Metro Rail into this district, Redhills is now more attractive to investors. New residential and commercial developments are popping up everywhere, indicating that the area is becoming more urbanized. Redhills is a great place to invest in land because it is about to experience rapid development.

• Thirumazhisai

Real estate investors should consider Thirumazhisai, a growing suburb near the Chennai-Bengaluru Highway. Its proximity to vital places like Poonamallee and the Chennai Outer Ring Road is a key factor fueling real estate expansion. With multiple infrastructural projects, Thirumazhisai is considered a potential smart city. This area has great potential for land investors thanks to the residential and commercial development mix.

• Maraimalai Nagar

Among the suburbs of Chennai, Maraimalai Nagar is quickly becoming a major residential and commercial area. Several professionals choose to make the area their permanent home because of its proximity to Mahindra World City, a hub for information technology and industry. Those looking for long-term real estate investments would find Maraimalai Nagar to be an excellent choice due to the availability of affordable land and the planned infrastructural upgrades. Land is more valuable there since the city's industrial foundation guarantees a steady demand for homes and businesses.

• Singaperumal Koil

A rapidly expanding industrial town, Singaperumal Koil is situated on the Chennai–Trichy Highway. This area is highly desirable for residential and commercial development because of its central location between Mahindra World City and Maraimalai Nagar. The area is gaining prominence due to improved road connectivity and ongoing industrial initiatives. Singaperumal Koil is located in an industrial corridor with the potential for consistent expansion, meaning land investors can expect significant returns on their investments in the long run.

Conclusion

Land investments in Chennai's suburbs are booming due to rapid urbanization. We just listed the top 10 places for land investments in Chennai. These regions will expand massively in the next years because of the many ongoing and future infrastructure initiatives. Chennai's suburbs have many investment opportunities, including residential, commercial, and industrial properties.