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Kelambakkam, located on the Old Mamallapuram Road, is making a mark for itself in the residential real estate sector of the city. Surrounded by IT companies and educational institutions, the demand for Kelambakkam apartments is on rise. This locali...ty will witness high demand and appreciation for Kelambakkam plots, as soon as the second phase project gets initiated. Real estate is booming in the hospitality section also. The demand for flats in Kelambakkam is high due to a proximity to the SIPCOT IT Park just 3 kilometers from Kelambakkam. In fact, the stretch from Kelambakkam to GST has contributed drastically to the locality’s real estate prospects. To meet this housing need a large number of builders are settling up their projects here. Returns on investment here average around 7 – 11%. Kelambakkam enjoys proximity to the IT corridor and is also a major tourist attraction. It is obvious that rates will appreciate in the near future.
Average apartment prices in this locality range from Rs. 3,100/- to 4,500/- per sq. ft. Average land prices are Rs. 2, 000/- to 6, 000 per sq. ft. The growth rate in this area is 3 %. Major builders in this area include: Vijay Shanthi Builders, Ramky Wavoo Developers, Srikaram Infratech Pvt Limited, Hitech properties, Citilights Properties Pvt Ltd.
Stamp Duty is 7%, Registration Fees is 1%.
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