Today Chennai Seeing a lot of Development on the OMR , Mogappair and Velachery.
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
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| Development of New MNC's |
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.
