Best Locations to Buy a 3 BHK Flat in Chennai
The real estate market in Chennai is thriving, and one can find properties such as independent houses and apartments of different configurations according to varying budget ranges. Finding a 3 BHK flat for sale in Chennai will be relatively easy. There are many localities around the city where one can find affordable houses easily. Certain localities in Chennai feature luxurious houses that are close to many beaches. Explore the following areas to find the perfect 3 BHK flat for sale in Chennai.
Pallikaranai, Chennai
Pallikaranai is a new residential area in the southern part of Chennai. The nearest and most accessible beach is the VGP Golden Beach. It mainly involves several low to medium-rise apartments, multi-storeyed apartments, and villa units. Pallikaranai consists of many economical 3 BHK flats for sale in Chennai. Chennai International Airport is 13 km away from this locality. Employment centres constitute one of the main factors influencing residential demand in Pallikaranai. This area is surrounded by several necessities, such as schools, hospitals, convenience stores, ATMs, etc.
Thoraipakkam, Chennai
Among the southern suburbs of Chennai, Thoraipakkam is a residential neighbourhood with several facilities on the Old Mahabalipuram Road. Numerous residential development options, including plots, standalone homes, and multi-storey apartments, are available in Thoraipakkam. It is one of the best areas to invest in a 3 BHK flat for sale in Chennai. One of the reasons investors and professionals are attracted to Thoraipakkam is its proximity to Chennai’s industrial area and IT centres. The Alandur Metro Station on the Blue and Green Lines is 14 km away via the Jawaharlal Nehru Road. Velachery Railway Station and Velachery Tambaram Main Road are 7 km away.
Iyyappanthangal, Chennai
Iyyappanthangal is a well-known area in the southwestern region of Chennai. The eminent facilities and well-connected organisational structures are the major factors influencing this locality's real estate. Finding a 3 BHK flat for sale in Chennai is relatively easy because of ongoing projects in the area, making it an ideal choice for everyone. Iyyappanthangal is just 11 km from one of the important local railway stations, the St. Thomas Mount Metro Station. Also, it is 12 km from the Guindy Railway Station, which can accessed via State Highway 55 (SH55). Moreover, the distance to Chennai International Airport via NH45 is 16 km.
KK Nagar, Chennai
Kalaignar Karunanithi Nagar, also known as KK Nagar, is a modern urban planned residential area in southern Chennai. This area is mainly engaged in constructing builder floors and covered apartments in low-to-mid-rise buildings, making it the best place to invest in 3 BHK flats for sale in Chennai. KK Nagar is well connected to the Trichy Chennai Highway, Anna Main Road, Inner Ring Road, and Arcot Road. This place is located near the Ashok Nagar Metro Station of the Green Line, which is at a distance of 1 km. KK Nagar is close to Chennai International Airport and the Chennai Central Railway Station, which is a mere 10 and 13 km away.
Porur, Chennai
A residential community called Porur is situated southwest of Chennai. Porur is a prominent area that is characterised by chemical and manufacturing industries. Buildings in housing projects range from mid- to high-rise. Porur makes investing in 3 BHK flats for sale in Chennai a better option in the city. The locality is 6 km away from the KK Nagar Bus Terminal. The closest railway stations to the area are Avadi and Guindy, which are 14.5 and 8.2 km away, respectively. It takes 12.3 km to reach the Chennai International Airport via Mount Poonamalle High Road.
About Chennai
Tamil Nadu's capital, Chennai, is a flourishing metropolis on India's southeast coast well-known for its dynamic lifestyle, strong economy, and rich cultural legacy. It is one of the largest cities in India and is known as the Health Capital of India. With some of the biggest companies in the automotive, hardware, software, healthcare, and financial services sectors, it is one of India's most economically active cities. Chennai's historic temples, classical music and dance festivals, and mouthwatering traditional South Indian cuisine testify to the city's cultural significance. Chennai is well-equipped to sustain a high quality of urban life because of its well-developed infrastructure, which includes an international airport, vast rail and road networks, a developing metro system, and expanding real estate.
The table below focuses on important information about the city:
| State | Tamil Nadu |
| Area | 426 square kilometres |
| GDP | 23 lakh crores |
| Official Language | Tamil |
| Population (Estimate) | 12,053,697 |
| Sub Registrar Office | https://tnreginet.gov.in/portal/ |
| Online Property Details | https://eservices.tn.gov.in/eservicesnew/index.html |
Stamp Duty and Registration Charges in Chennai 2024
The Indian Stamp Act, 1899 and Tamil Nadu Stamp Act, 2019 specify that a property buyer in Tamil Nadu must pay the state government the registration fee and stamp duty. In Tamilnadu, real estate transactions involving a property's sale, lease, partition, and resale are subject to the payment of stamp duty and registration fees.
Stamp duty costs are determined by considering numerous factors, such as the property's age, type, value, number of floors, location, and intended use. Unlike most other states, in Tamil Nadu, a refund is not offered if a property is registered in a woman's name. Registration costs and stamp duty are the same for men and women.
The general stamp duty and registration charges in Tamil Nadu apply to all cities in the state. The highlighted stamp duty and registration charges in Chennai are mentioned in the table below -
| Gender | Stamp Duty | Registration Charge |
| Male | 4 % of property value | 0.5 % of total property value |
| Female | 4 % of property value | 0.5 % of total property value |
| Joint Owners | 4 % of property value | 0.5 % of total property value |
Market Trend for Chennai Real Estate
Chennai offers exciting investment opportunities in the field of real estate. The Chennai residential market introduced 5,088 new units. Among them, the Suburban South I submarket led with a share of 48%, and Suburban South II shared 36%. The mid-segment took 69% of the market share, which has improved from 64%, as was noticed in Q1 2024. 22% of the total units launched during the quarter were in the high-end and luxury segments. The luxury segment specifically saw an increase from 2% in the first half of 2023 to 8 % in the first half of 2024. The affordable segment was assessed to be 9%.
As recent reports on the Chennai real estate market have stated, the prices of real estate properties are most likely to increase by 5 % to 6.5 % and by practically 7 % all over India. Thus, it is a good time to invest in real estate in Chennai.
Circle Rate in Chennai
Every state government in India sets a price for buying and selling property. Buyers and sellers must transact at a value above this rate. In Tamil Nadu, this rate is referred to as the guideline value. This rate is also called the circle rate, ready reckoner rate (RRR), or guidance value in other states. A property must be registered at a minimum value known as the guideline value, which acts as a cutoff below which property registration cannot be completed. When registering the property at the sub-registrar office, the buyer considers this value in addition to paying the stamp duty.
FAQ's
Which is the best place to buy property in Chennai?
Pallikaranai, Thoraipakkam, Iyyappanthangal Perumbakkam, Porur, and KK Nagar are some of the best places to consider buying a property in Chennai.
Which part of Chennai is best for living?
Adyar, Porur, Mylapore, Velachery, and Besant Nagar are some of the top localities to live in Chennai. However, it varies depending on many factors, such as location, amenities, etc.
Which is the safest area to live in Chennai?
Some of Chennai's safest areas include Adyar, Porur, Anna Nagar, KK Nagar, and Besant Nagar. However, safety can vary between these areas, so it is recommended to study particular areas and analyse the recent crime rates.
What are the most popular projects in Chennai?
Casagrand Massimo, SIS Florence, Bollineni Zion, TVS Emerald, and Brigade Xanadu are some of Chennai's most popular projects.
Where is the best place to buy a flat in Chennai?
Some of the best places to buy a flat in Chennai are Mylapore, Besant Nagar, ECR, Porur, Mandavelli, and Anna Nagar.
How can I buy an affordable flat in Chennai?
To buy an affordable flat in Chennai that suits your budget and preferences, browse through Square Yards' official website.
Which sector is best for living in Chennai?
Western and southern parts of Chennai are popular residential living sectors due to their eminent infrastructure and stellar connectivity.
