Tharamani, Perungudi and Thoraipakkam form the first stretch of OMR heading south from Adyar. TIDEL Park, the IT special economic zone on Rajiv Gandhi Salai in Tharamani, set the template for the corridor, and the stretch has since filled with office campuses, hotels and some of the city's most expensive apartments outside the central districts. For buyers, the appeal is a short commute to a large concentration of jobs, plus the beaches and schools of Thiruvanmiyur and Adyar a few minutes away.

Short commutes come at a price. This guide sets out what homes cost, what the office market tells you about rental demand, and what to watch.

The office market that underpins demand

  • Leasing: Chennai recorded 3.6 mn sq ft of office transactions in H1 2026, down 28% from an exceptionally strong H1 2025 but still the third-highest first half on record (per Knight Frank).
  • Occupiers: Global Capability Centres were the largest occupier group, at 45% of leasing (per Knight Frank).
  • Vacancy: 8.5% in H1 2026, down 40 basis points year-on-year and far below the double-digit levels of the last decade (per Knight Frank).
  • Rents: average office rents rose 7% year-on-year to ₹74.5 per sq ft per month, with the strongest growth, 8%, in the SBD OMR micro-market (per Knight Frank).
  • New supply: key completions in H1 2026 included Taramani, Perungudi and Velachery, among others (per Knight Frank).

What homes cost: Q3 2026

Average asking rates for apartments, per Magicbricks' Jul-Sep 2026 data. Magicbricks does not publish a stable average for Tharamani itself, which has limited residential stock, so the adjoining localities are the practical benchmark.

  • Perungudi: ~₹10,750/sq ft (range ₹8,689-12,811), up 2% quarter-on-quarter; 3 BHK asking rates ₹9,500-14,900 per sq ft, up 20% year-on-year.
  • Thoraipakkam: ~₹10,424/sq ft (range ₹7,651-13,197), up 3% quarter-on-quarter.
  • Karapakkam: ~₹10,015/sq ft.
  • Velachery: ~₹9,183/sq ft, up 10% quarter-on-quarter.
  • Pallikaranai: ~₹7,904/sq ft, the value option inland from Perungudi.
  • Thiruvanmiyur: ~₹14,774/sq ft and Kottivakkam: ~₹14,757/sq ft, the premium coastal neighbours.

Rents near the IT core

NoBroker's live listings (October 2026) show 2 BHK rents of about ₹16,000-45,000 in Perungudi, ₹12,800-35,000 in Thoraipakkam and ₹15,000-35,000 in Velachery. 3 BHK listings in Perungudi stretch from ₹25,000 to well above ₹1 lakh at the luxury end. Cushman & Wakefield's Q2 2026 mid-segment benchmark for the OMR submarket is ₹32,500-35,000 a month, up 11% year-on-year.

Because purchase prices here are among the highest on OMR, gross yields are not higher than further south. A 1,200 sq ft home at Perungudi's average asking rate costs about ₹1.29 crore; at ₹35,000-40,000 a month that is a gross yield of about 3.3-3.7%. The investment case is tenant depth and low vacancy rather than headline yield.

Metro: Corridor 3 through the IT core

Corridor 3 of Chennai Metro Phase II will serve this stretch with stations including Taramani, Nehru Nagar, Kandanchavadi, Perungudi, Thoraipakkam, Mettukuppam, PTC Colony, Okkiyampet, Karapakkam and Okkiyam Thoraipakkam (per the line's published station list). The elevated OMR section from Nehru Nagar south has carried targets from late 2026 to December 2027 in reports and compiled schedules, while the underground section through Adyar and Thiruvanmiyur is scheduled later. The existing MRTS line along the Buckingham Canal already serves Tharamani and Velachery.

ANAROCK's Q1 2026 outlook also points to road upgrades around Madhya Kailash and Velachery and the proposed Thiruvanmiyur-Uthandi elevated corridor on ECR as connectivity improvements for this belt; the ECR corridor's award has, however, faced litigation and review, so its timing is uncertain.

Project in focus: Radiance Eternity, Thoraipakkam

Radiance Eternity by Radiance Realty is located at Ellaiamman Nagar, Thoraipakkam, in the Oggiyamduraipakkam pocket a short drive from Perungudi and Tharamani. Per RoofandFloor, it spans 2.21 acres with 215 homes in two Stilt + 22 blocks, offering 3 and 4 BHK homes of 1,714-2,711 sq ft at ₹2.2-3.52 crore all-inclusive, with possession targeted for December 2028. Some marketing material also references 2 BHK homes and 5 BHK duplexes, so request the current configuration sheet.

On those listed figures, the all-inclusive rate works out to roughly ₹12,800-13,000 per sq ft, above the Thoraipakkam portal average, which is typical for a new high-rise with a full amenity set. Compare it against ready resale in Perungudi and Thoraipakkam before committing.

Letting near the IT core: tenant profile and furnishing

Tenants around Perungudi, Thoraipakkam and Tharamani are dominated by IT, GCC and services professionals, many of them relocating from other cities. They tend to value move-in-ready homes, reliable power backup and water, covered parking and a short drive or walk to the office. Families with school-age children prefer 3 BHKs in gated communities; younger professionals often share 2 and 3 BHKs.

For landlords, semi-furnishing (wardrobes, a modular kitchen, lights and fans, and air-conditioners in bedrooms) usually widens the tenant pool. Corporate leases can offer stability but may come with stricter maintenance expectations. Because Chennai office vacancy is low by historical standards, per Knight Frank, the main risk to rental demand here is a broad technology-sector slowdown rather than local oversupply of offices.

New launch or resale?

Near the IT core, buyers face a genuine choice. New launches such as Radiance Eternity offer modern specifications and full amenities at an all-inclusive price that, on listed figures, sits above the area's portal average. Resale homes in completed communities in Perungudi and Thoraipakkam are often available closer to the portal averages and can be let immediately, but may be older, with smaller clubhouses and higher maintenance needs.

For a buyer who wants to occupy or let quickly, a well-maintained resale home in an established community is often the stronger value. For a buyer with a three-year horizon who wants the newest building and is comfortable with construction risk, a reputable new launch makes sense. In either case, insist on carpet area, UDS and approval documents before negotiating price.

Who this belt suits

  • Professionals working at TIDEL Park, the Perungudi and Thoraipakkam office campuses, or in Guindy and Velachery, for whom a 10-20 minute commute is worth a premium.
  • Families who want access to Adyar and Thiruvanmiyur schools and the coast without central Chennai prices.
  • Landlords seeking low-vacancy tenancies from the GCC and IT workforce rather than maximum yield.

Risks to weigh

  • Flood exposure: parts of Perungudi, Thoraipakkam and Pallikaranai adjoin the Pallikaranai marshland. Ask for flood history and plinth levels, and avoid ground-floor units in low-lying pockets.
  • Construction disruption: metro and road works along OMR will continue into 2027 and beyond.
  • Premium pricing: Perungudi's 3 BHK asking rates rose 20% year-on-year on Magicbricks, so negotiate firmly and benchmark against completed resale.
  • Water and infrastructure: confirm the water source and STP capacity, particularly in Oggiyamduraipakkam's newer pockets.