Surprisingly, you hadn't mentioned why you had chosen those two localities. If you are an IT guy and want to work in any of the IT companies in South Chennai, then God save you! The travel from Vadapalani to OMR/GST will exhaust you, stealing your valuable time with family. I've seen people whose married life fall apart due to this (Ofcourse, not only because of this reason, but this is one of the most important one). Under most optimistic scenarios, it takes 1.5hr in the mornings (start by 8:30-9:30AM) and about 2-2.5 hrs in the evenings(start by 6:00-10PM). Add to that delays due to rain-induced traffic chaos.
Any other industry, I think is fine from Vadapalani, provided you are ok with the congestion and traffic.
Flats are ok, if appreciation is not the focus, but security is.
Bungalows are ok, if the focus is apprecition and area is good, security wise.
Gated communities/townships much better as they provide advantages of both.
-Raghav
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