Buy or rent in Mylapore, Chennai? (2026)
Updated November 2026 · Typical 2BHK, 20-year view
Even if prices keep rising at Mylapore’s 10-year trend of 6.7% a year, renting and investing the money you would have spent on the home leaves you about ₹3.12 Cr richer after 20 years.
Buying wins only if prices grow faster than 9.7% a year. Mylapore’s 10-year trend is 3.0 points below that.
Mylapore in numbers
The 20-year comparison
The buyer pays the down payment and stamp duty on day 1, then the EMI and maintenance each month. The renter puts the same day-1 money into a Nifty 50 index fund, pays rent, and each month invests whatever the buyer spends over rent. Whoever spends less in a month invests the difference, so both start and continue with the same money.
| Cash on day 1 (20% down + 7% stamp duty) | ₹33,75,000 |
|---|---|
| Monthly EMI | ₹86,782 |
| Owning costs more than renting in year 1 by | ₹56,991/mo |
| Home value after 20 years | ₹4.57 Cr |
| Buyer’s wealth (home, loan repaid, + any invested surplus) | ₹4.57 Cr |
| Renter’s Nifty 50 portfolio | ₹7.70 Cr |
| Difference | Renting ahead by ₹3.12 Cr |
| Buyer’s annual return (IRR) | 8.5% vs 12% for the fund |
Rent avoided is the buyer’s return on the flat, on top of price growth. Here that is a 3.4% yield, against a 8.5% loan rate, which is why price growth has to do most of the work for buying to win.
About Mylapore
Mylapore is one of Chennai's oldest neighbourhoods, home to the Kapaleeshwarar Temple, San Thome Basilica and a strong cultural life. It has old houses, apartment buildings and quiet streets close to the beach and the city centre.
- Heritage neighbourhood
- Temple & cultural centre
- Close to Marina
- Central location
- Limited supply
Major employers nearby: Offices on Anna Salai & RK Salai, Central Chennai businesses.
Getting around
- Metro: MRTS: Thirumayilai station; Phase 2 interchange planned there
- Highway: RK Salai; Santhome High Road; Anna Salai ~2 km
- Peak traffic: Narrow streets around the temple are congested at peaks and during festivals
- Congestion: High
Schools
- Schools in Mylapore (Various) — Several long-established schools
Nearby
- Hospitals: Hospitals in Mylapore & Alwarpet
- Malls: Retail on Luz Church Road
- Parks: Marina Beach (~2 km), Nageswara Rao Park
Investment view
Mylapore is a heritage market that holds its value through scarcity rather than fast growth. Yields are modest. 2BHK rents run about ₹32,000–38,000/mo. Best for buyers who want to live in central, traditional Chennai.
Other localities in Chennai
- Sholinganallur Close call
- Thoraipakkam Close call
- Porur Rent and Invest wins
- Perungudi Rent and Invest wins
- Velachery Rent and Invest wins
- Guindy Rent and Invest wins
- Pallikaranai Rent and Invest wins
- T Nagar Rent and Invest wins
- Ambattur Rent and Invest wins
- Anna Nagar Rent and Invest wins
- Neelankarai Rent and Invest wins
- Adyar Rent and Invest wins
- Kovilambakkam Rent and Invest wins
- Iyyappanthangal Rent and Invest wins
- Poonamallee Rent and Invest wins
- Chromepet Rent and Invest wins
- Padi Rent and Invest wins
- Tambaram Rent and Invest wins
- Perambur Rent and Invest wins
See all Chennai localities side by side →
Questions people ask
Is it better to buy or rent in Mylapore?
Even if prices keep rising at Mylapore’s 10-year trend of 6.7% a year, renting and investing the money you would have spent on the home leaves you about ₹3.12 Cr richer after 20 years. Buying wins only if prices grow faster than 9.7% a year. Mylapore’s 10-year trend is 3.0 points below that. This assumes a typical 2BHK at about ₹1.25 Cr, 8.5% home loan for 20 years and a Nifty 50 index fund at 12% a year for the renter.
What is the rental yield in Mylapore?
About 3.4% gross for a typical 2BHK: roughly ₹35,000 a month on a home worth about ₹1.25 Cr. That is a price-to-rent ratio of 30, meaning the home costs 30 years of rent.
What is the EMI on a 2BHK in Mylapore?
About ₹86,782 a month on a ₹1.00 Cr loan (20% down on a ₹1.25 Cr home) at 8.5% for 20 years. In year 1, owning costs about ₹56,991 a month more than renting the same flat, after maintenance.
How fast have property prices grown in Mylapore?
About 6.7% a year on average over 2014–2024, with rents growing about 4.3% a year (Blended 10-yr trend (2014–2024) · RBI House Price Index, Anarock Research, 99acres, Knight Frank). Past growth is not a promise of future growth.