GST Road(NH-45) already houses SEZ's and bristling with activity!!

The GST Road(NG-45) road already houses some of the SEZ's and bristling with activity due to establishment of large industrial parks like Mahindra World City and Shriram Gateway.

Ariel View of Mahindra World City

Projects like Arens Gold Souk and upcoming mall in Mamandur will significantly contribite to the social infrastructure in the vincinity in the coming months.

Shriraam THE GATEWAY

Mega Housing projects like L&T , SARE Jubilee Shelters, Akshara Housing, Arun Excello, Akshaya Belvedere, Hallmark Country and SIS Safaa will partly meet the growing demand and needs of housing in this AREA!

Corporates owning tracts of land in the area have also ventured into housing development. The surge
in demand of HOUSING PROJECTS in and around the area clearly illustrates this trend.
If the current demand pattern is any indication, then we are very sure that the city will get expanded
upto TINDIVANAM, says SANTHOSH.J -MD Akshara Housing and Propertiees

-Correspondent, Chennai Property Talks

Where Does the HOUSING Development revolves in Chennai?

Due to probhibitive land cost, supply level in the cit is less nowadays.

The Major housing development revolves around areas like Old Mahabalipuram Road till Thaiyur , Thiruporur and GST till Tindivanam.

Improved connectivity levels and the metro construction are the encouraging more people to shift to suburbs and peripheral areas. 

-Correspondent, Chennai Property Talks

Property DEVELOPERS are not soo keen with ORAGADAM/SRIPERUMBUDUR! Why?

The Industrial clusters like Oragadam and Sriperumbudur are specific areas where property developers are not keen for housing units beyond Rs.50Lakh price range.

  Lack of Social Infrastructure and delay in implementation of infrastructure are major factors that discourage many developers to venture in housing in the area.


-Correspondent, Chennai Property Talks

ECR(East Coast Road) to be EXTENDED!! - Reports Chief Minister

ECR(East Coast Road) to be EXTENDED!! - Reports Chief Minister

Tamilnadu Chief Minister J Jayalalithaa today announced in the Assembly a host of measures to give greater thrust to road infrastructure development, and to provide better connectivity besides ensuring balanced economic development. Making a statement under Rule 110, she said the State government has been implementing various road infrastructure development projects.

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It is a long-pending demands of the people to extend ECR upto Kanyakumari. Taking this into account, the government will take steps to extend the ECR connecting Tuticorin upto Kanyakumari. 'Widening and upgradation of the remaining portion of the ECR measuring 113 kilometres at an estimation of Rs 257 crore will be taken up. Nine bypasses, three bridges will be built as part of the project. Similarly, Sivaganga and Edapadi bypasses for 10.60 km and 8.60 km respectively will be built to ease traffic congestion. In order to prevent accidents and cut-short journey time, bridges are necessary at the railway crossings. As many as 23 railway over and under bridges across the State will be constructed at an estimation of Rs 740 crore. Kancheepuram, Tiruvallur, Vellore, Villupuram, Coimbatore, Salem, Ramanathapuram, Dindigul and Tirunelveli will get these facilities. As many as 65 bridges at a cost of Rs 151 crore in 18 districts will be constructed and damaged bridges will also be upgraded. To ease traffic congestion and prevent road accidents in Chennai, certain initiatives of international standards will be taken up on Anna Salai, E V R Periyar Salai and inner circular roads. It may be noted that during 2011-12, Rs 1,450 crore is being allotted under the Comprehensive Road Infrastructure Development Programme (CRIDP) which will be used for taking up road widening, improvement besides reconstructing bridges and culverts. -Correspondent, Chennai Property Talks

Chennai Seeing lots of Development on the OMR , Mogappair and Velachery.

Today Chennai Seeing a lot of Development on the OMR , Mogappair and Velachery.

Development of New MNC's

             The Madhya Kailash - Thiruporur stretch is seeing a supply - demand mismatch , with demand exceeding supply.  This area and its peripheries are high growth regions because of the IT corridor. Velachery

is also developing fast. In fact areas nearby Velachery, such as Medavakkam, Pallikaranai, Pallavaram - Thoraipakkam, and Rajakilpakam are experiencing the rub off effect of Velachery, with rapid land appreciation. Other areas in demand include Porur and the stretch up to Chettipunyam on the GST.

             J.Uvasre, Director of South India Land Developers says, that the most of the areas around GST and OMR have 2 and 3BHK apartments in the sub-1,5000 sq.ft category available at monthly rentals of Rs.15,000/- to Rs.20,000. In West Chennai areas such as Anna Nagar and Kilpauk command Rs.20,000 - Rs.25,000 monthly rentals for similar sized apartments.

            Emerging Areas like Sriperumbudur and Ambattur have options in the Rs.10,000-Rs.15,000 rental brackets for 2 and 3 BHK Flats. 

However 2010/11 has seen an increase of 13.5per cent in average rent. The trend is accelerating in the last six months-driven by overall inflation growth across products and services, says Satya Prabhakar, CEO Sulekha.com

Coming to a Conclusion :

OMR Beats up all the areas and standstill from Madhya Kailash to Thiruporur for Better and faster development in the upcoming years. 

Moving to the Suburbs

With Residential space at a premium in the city, consumers are looking at renting property in the suburbs.

Residential Housing in Chennai has seen a rental spike by 10percent to 15percent over the last few years. But rentals in the suburban areas have gone up more slowly, with accommodation available from anything between Rs.8 per sq.ft to Rs.25 per sq.ft a month.

This hike began with the IT BOOM in 2000 which boosted demand for residential space within the city.
The city's population almost doubled and individual houses began to give way to multistory apartments.
The Demand pushed up prices of both land for construction, and of apartments for end-users.

The Increased demand for housing saw the city expanding towards the suburbs. The primary reason for this was the shortage of land within the city.

With the Land prices in the city shooting up, developers had to look to the suburbs to come up with viable residential projects, according to Sivaramakrishnan A.S.,  VICE President (Residential Services).

Though Chennai City sees a huge demand for rental housing, the supply is minimal, But it is the reverse in the case of the suburbs . The demand is due to availability of public transport, water and other infrastructural facilities, which are not found in certain suburbs.

 With consumers balancing their budgets in line with lifestyle expectations, suburbs seem to provide the right solution. Hence, consumers choose to live in an apartment based on affordability, which also meets the basic requirements of the family , says Jeyakumar Ramasamy, - Director JVS Real Estates.

This move to the suburbs is aided by the fact that the work place is not in the city any longer - it is in the IT Corridor or industrial corridor.

Chennai's Old Mahabalipuram Road attracts retail development!!

Malls with retail stores, hyper markets, food courts, multiplexes and other entertainment enclaves will dot Chennai's IT corridor within the next two years. While the IT firms that have sprouted along this route welcome the new inhabitants, investors can rejoice in the inevitable rise in land prices on the Old Mahabalipuram Road (OMR).

The frenetic development on the OMR has so far been on office space for the IT/ITES sectors. With the IT corridor expected to generate over 30,000 new jobs annually, the need to house workers and offer retail and entertainment facilities in the vicinity is kicking off a new round of construction.

Three real estate companies, Allied Group in partnership with Arihant Foundations & Housing, Marg Constructions and Suryavardhan Estates have already confirmed plans to develop malls on the OMR.

A 6.1 lakh sq.ft mall by the Allied Group and Arihant, and a 2.5-lakh sq.ft high-end mall by Suryavardhan Estates are coming up at Navalur on the OMR. Marg Constructions is planning a riverside mall of 4.5-lakh sq.ft.

Meanwhile, prime residential areas on the OMR such as Padur are seeing real estate prices touch Rs. 20 lakhs a ground, a six-fold jump over a few years ago. Large plots of land are being sub-divided into smaller plots for which there are many takers.

With such furious development of the IT/ITES infrastructure, retail and residential spaces, the OMR is fast becoming Chennai’s Gurgaon!

By ChnPRPTalks Correspondent 

CHENNAI Property Bazaar2011 , is BACK!!!!

CHENNAI Property Bazaar2011 , is BACK!!!!