Chennai is a rapidly growing metropolitan city in India both spatially and economically. The increased economic viability of the city has resulted in massive appreciation of land prices in the sub-urban areas and urban fringes. This study aims to understand the impact of physical, locational, neighbourhood and transportation factors on land pricing in the urban fringes. A total of 236 questionnaires were collected from three study groups - real estate developers, brokers & valuers, and potential buyers. The responses were presented and analyzed, and the relative importance index was calculated. It was found that the transportation factors and neighbourhoods affect residential property value to a greater extent. The distance from the central business district and the distance to the highways followed by the proximity to various urban facilities were the essential factors affecting the land price in the suburban regions of Chennai. The study recommends that property investors should consider these attributes in the investment decision making process and the authorities should consider these attributes for development planning.