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Flats Under 3 Crore for sale in Laxmi Nagar Extension Sholinganallur, Chennai
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About Properties In Laxmi Nagar Extension, Sholinganallur, Chennai for Sale
Overview of Sholinganallur
- Sholinganallur is a prominent locality situated in the southern part of .
- Sholinganallur itself is an established IT hub and a developing residential locality.
- Due to the presence of major IT business parks, multinational companies and Special Economic Zones, the economy of Sholinganallur is growing.
- Along with the industrial significance, it also has rich cultural landmarks, being a perfect balance of spiritual and corporate lifestyles.
- Sholinganallur is surrounded by areas like Perumbakkam, Karappakam, Medavakkam, Pallikaranai, Semmancheri, and Navalur.
- Being a key hub in an extensive residential and commercial market, Sholinganallur is a sought-after destination for investment opportunities.
- The pincode of Sholinganallur is 600119.
Sholinganallur Residential Market Insights
- The average property price in Sholinganallur ranges from ₹ 7,000 to ₹ 8,000 per sq. ft.
- The average price of a 1 BHK in Sholinganallur is around ₹ 19 lakh to ₹ 58 lakh.
- The average price of a 2 BHK in Sholinganallur is around ₹ 55 lakh to ₹ 1 crore.
- The average price of a 3 BHK in Sholinganallur is around ₹ 80 lakh to ₹ 2 crore.
- The average price of a 4 BHK in Sholinganallur is around ₹ 1 crore to ₹ 3 crore.
- The average monthly rental rates in Sholinganallur range from ₹ 13,000 to ₹ 95,000.
- The average price of land in Sholinganallur is around ₹ 7,000 to ₹ 10,000 per sq ft.
- Sholinganallur is a posh area and mainly offers mid-segment to premium residential properties.
- Although the prices of properties may vary based on certain factors such as apartment configuration, exact carpet area, location, scenic advantages, etc.
- Both under-construction and ready-to-move flats are available in this locality.
- A number of reputed builders and developers have a presence in Sholinganallur.
Connectivity and Transport In Sholinganallur
- Tambaram Railway Station, Taramani, Velachery, and Thiruvanmiyur are the nearest Railway stations to Sholinganallur. All are around 15-30 minutes away from the locality.
- International Airport is 20 km away.
- Sholinganallur is located by the OMR (Old Mahabalipuram Road), one of the most important roadways of Tamil Nadu.
- Sholinganallur is connected through key roads such as OMR, East Coast Road (ECR), Perumbakkam Main Road and Velachery-Tambaram Road.
- The Rajiv Gandhi IT Expressway allows easy travel for corporate employees.
- The Metropolitan Transport Corporation (MTC) local bus network connects the locality to major parts of .
- Moreover, taxis and auto-rickshaws are a convenient public transport for the locals.
Social Infrastructure In Sholinganallur
- Sholinganallur is well-equipped with healthcare facilities, social services and essential amenities.
- Some reputed hospitals and health centres such as KL Hospital, Gleneagles Health City, Swaram Hospital and Speciality Clinic, Rainbow Hospital, are located in and around the locality.
- Quality educational institutions and schools around the locality include Infant Jesus High School, Ramana Vidyalaya, KCG College of Technology, Sacred Heart Matriculation Higher Secondary School, Jeppiaar Engineering College, St joseph's College of Engineering, Sathyabama University & Indian Maritime University.
- Sholinganallur has plenty of general stores for essential needs and restaurants in the Dollar Signal and OMR Food Street areas.
- The Sholinganallur Fish Market is popular for fresh coastal area seafood.
- Some luxurious malls such as Vivira Mall, Marina Mall, and Mayajaal are within 6 to 8 km from the locality.
Employment Opportunities In Sholinganallur
- Sholinganallur is famous for being an IT hub in South providing plenty of employment opportunities in the locality itself.
- Sholinganallur consists of several IT parks and ELCOT SEZ, a prime commercial hub in .
- Renowned companies like Cognizant Solutions, Tech Mahindra, HCL, Wipro, TCS, Infosys, and Tata Consultancy Services have offices here.
- Sholinganallur is also closely connected with the SIPCOT IT Park situated in Siruseri.
- While major employment sectors such as Thoraipakkam & Siruseri are about 6-10 km from Sholinganallur.
- These commercial areas are easily accessible due to excellent connectivity.
Lifestyle In Sholinganallur
- Sholinganallur has a vast range of lakes, water bodies, and green spaces, making it a pleasant getaway from busy city life.
- Uthandi Beach, a renowned tourist spot in is just 10-15 minutes away from the locality.
- Ibis and Novotel are some luxury hotels nearby.
- The residents enjoy a vibrant lifestyle due to a wide variety of restaurants, cafes, and entertainment venues in the vicinity.
Safety and Security In Sholinganallur
- Sholinganallur follows proper security guidelines for the residents to feel secure.
- The locality has its own police station. Along with that, there are also other police assistance booths nearby.
- Regular police patrolling is practised, especially along busy roads like OMR.
- There are CCTV Cameras in public places to avoid any crime incidents and illegal activities.
- Proper traffic regulation is done through traffic officers and traffic signals.
Development and Future Prospects In Sholinganallur
- The upcoming Phase 2 Metro Corridor 3 (Madhavaram-Sholinganallur) is likely to improve connectivity in the long term.
- Upcoming metro links to ECR and Velachery will reduce travel hassles.
- Flyover upgrades at SRP Tools and Perungudi will ease OMR traffic congestion.
- Ongoing and upcoming infrastructure will make Sholinganallur ideal for long-term investment.
Culture and Community in Sholinganallur
- Sholinganallur has a modern urban lifestyle while preserving its rich cultural heritage.
- The locality is home to the famous Sri Prathyangira Devi Temple
- Sri Maha Prathyangira Devi Temple is a spiritual haven in Sholinganallur. It is situated by the Bay of Bengal on the banks of the Buckingham Canal and is known for its intricate architecture.
- Cholamandal Artists' Village in Sholinganallur is the largest artist commune in India. It is known for its vibrant collection of contemporary art and sculptures.
- The ISKCON Temple and Marundeeswarar Temple are major cultural attractions in the locality.
- These destinations are a representation of Sholinganallur’s stunning architecture, intricate carvings, and peaceful surroundings.
Environmental factors in Sholinganallur
- Sholinganallur has evolved into an IT hub, but the green surroundings and migratory birds are still visible. This creates a stunning setting for nature lovers and bird watchers.
- The locality is surrounded by numerous serene lakes and water bodies providing a fresh atmosphere amid the metropolitan environment.
- Sholinganallur also consists of several well-maintained parks and recreational areas in the neighbourhood, encouraging an active and healthy lifestyle.
- Sholinganallur Park, Rajiv Gandhi Park, Bharathi Nagar Park, Sathyabama Park, and Millennium Park are some of the beautiful gardens nearby.
- Despite the ongoing urbanization, Sholinganallur has preserved its natural beauty.
Flat Configuration in Sholinganallur
- Sholinganallur offers a range of 1 BHK, 2 BHK, 3 BHK, and 4 BHK properties in both under construction and ready-to-move conditions.
- 2 BHK properties are in demand in Sholinganallur.
- Sholinganallur mainly has premium and luxurious properties. But it also offers some flats at affordable rates.
- Apart from that, other properties like independent floor apartments, villas, and land plots are also quite popular.
Property Price Growth in Sholinganallur
- Sholinganallur has witnessed a consistent price growth of up to almost 27% in the last 5 years.
- The YOY property price growth in Sholinganallur has been around 10%.
- Whereas, a 20% appreciation in property prices has been seen in the last 3 years.
- Also, a rental yield of around 3% to 5% has been achieved due to an increased demand for rental properties.
- Due to rapid development and urbanisation, Sholinganallur is expected to experience consistent price growth in the near future.
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