A spacious house. Preferably walk-to-work distance. Hospitals, schools, colleges right round the corner. But all within a budget of 50 lakhs rupees. This is where you should be looking:

1. Maduravoyal

It is an ideal pick for those in IT-ITES nearby and the manufacturing units in Sriperumbathur and Oragadam. Proximity to Koyambedu bus depot, Poonamallee high road and Pour makes this a good investment with returns in the future. Average price for an apartment is Rs 4300-4600 per sq ft with 8-9% of annualised rate of returns.

2 Manapakkam

Located along the Mount-Poonamallee Road, it is well connected by road and rail. Just 5kms away from Guindy, the Central business district, and IT hubs like DLF IT park, Manapakkam makes for a good affordable residential location. Average price per square foot is Rs 4800-5500 rupees per sq ft with 7-8% of annualised returns.Well known developers such as Casa Grande, Navins are established here.

3 Medavakkam

Located along the Old Mahabalipuram Road (OMR) , it caters to a number of young IT professionals working in this corridor . Proximity to workplace, well connected by public transport and availability of schools, colleges and retail stores makes this a good buy. Average price for an apartment is Rs 4300-4800/sq ft with annualised rate of returns of 6-7%.

4 Perumbakkam

Also along the IT corridor, Perumbakkam enjoys the proximity to both the IT corridor and as far as Tambaram in South Chennai. Apartments here range from Rs3800-4800 /sq ft. Seeing its potential, big names such as India Bulls, Malles constrcutions, Urban Tree have come up with projects here . However, many are stuck in the construction phase for years now, owing to the economic state and a diping real estate industry.

5 Kelambakkam

Strategically positioned along the IT corridor, the suburb is located just 5 km from Siruseri IT Park and other BPO centres. Kelambakkam is an important junction which connects GST and ECR to and thus this connectivity can make commute to work an easy task. Average price of an a 1000sq ft apartment is a 30-40 lakh product. Akshaya Homes, Casa Grande, BBCL, India Bulls have well developed townships and independent homes here.

There is a home for every buyer, for every budget. Experts are confident that with the government -infra push, pockets along the IT corridor and West Chennai will see the most traction in the next 2 years.

(Knowledge source : Knight Frank)

Reporter- TK Smitha, NDTV