CHENNAI'S NEXT SIGNIFICANT RESIDENTIAL HUBS

Recently, the areas close to OMR, such as Medavakkam, Pallikaranai and Thoraipakkam, have been gaining traction due to their proximity to the city’s IT corridor. This 26-kms road has seen great real estate growth over the last few years, and residential launches are being absorbed at reasonable levels. The fast expansion of the city has put these neighborhoods high on the list of popular upcoming places. This blog is curated based on the predictions made by Principal Correspondent/Senior Sub-editor “NIDHI ADLAKHA”. Though many real estate experts have been predicting for over years, the prediction made by NIDHI ADLAKHA has been right in today’s reality.

As per her prediction, the following will be the most sought-after places: Thoraipakkam, Pallikaranai and Medavakkam. It is evident that these places are the next big Hub in the southern part of Chennai.

Recent Developments:

  • The single-pier system for the elevated road and Metro Rail corridors will be composed of different piers positioned intermittently in the center median. The elevated road stretches from SRP junction to Siruseri junction with on-ramp and off-ramp access at Perungudi junction, Thoraipakkam, Sholinganallur intersection, and eventually finishing off at Siruseri junction.
  • Old Mahabalipuram Road (OMR) in Chennai is going to experience a major transformation, as the government has announced plans to invest Rs 3,088 crore into developing a multi-level elevated transport corridor. This project will be carried out in two phases and aims to reduce traffic congestion along the IT Expressway.
  • In a bid to ease traffic and improve connectivity, the State government is planning an elevated corridor in two phases. As per sources, Phase-I will cover a stretch from Taramani to Siruseri, which wraps around 18 km, and Phase-II will run from Siruseri to Mahabalipuram along Old Mahabalipuram Road (OMR). In addition, Chennai Metro project has planned for an elevated way ahead of the SRP Tools junction as well. Thus, it is expected that both these projects may get amalgamated together.
  • A single pier, measuring 2.50 meters in width, is included as part of the plans. This will provide a vertical clearance of 5.5 meters and also allow for a dual-decked elevated corridor at certain places and even a triple-decked one at times. The elevated road will be situated on the first level above ground, with the Chennai Metro rail running on the second level.
  • It is noteworthy that there are three main areas such as Perungudi, Thoraipakam and Sholinganallur, where Chennai Metro rail will run on the third level with an elevated road being found directly underneath it, while entry or exit ramp facilities can be accessed from the first layer.

Current Stats:

  • The residential markets across various localities have grown significantly due to the mix of housing projects. The land rates have increased considerably, with luxury and mid-segment projects available in the range of Rs. 5,500 to Rs. 8,600 per sq.ft., corresponding to ticket sizes from Rs. 53 lakhs to Rs. 1.35 crore, respectively.
  • Infrastructural growth is necessary to meet the housing demands in Thoraipakkam, Medavakkam and Pallikarnai. This has been facilitated mainly by the industrial projects that have sprung up close to each area. As such, these places have seen an elevation in homebuyer interest as they search for properties there.
  • In recent months, properties located in certain parts of Chennai’s OMR belt have seen an uptick in interest from buyers and investors alike. Along this 26-km roadway, residential launches are achieving intense absorption levels, much to everyone’s delight.

Sholinganallur is a Taluk situated in the Kancheepuram district of Tamil Nadu, one of the 10 Taluks within the region. Based on the Census India 2011, Sholinganallur Taluk has a population of 563342 with 143615 households. The figure reveals that 285167 people are male and 278175 are female. Of this total population 11.48% are children aged 0-6, amounting to 64665 individuals.

As per the Census India 2011, Medavakkam is populated by 21158 people. The ratio of men to women stands at 10849 and 10309, respectively. Notable among them are the 2547 children aged 0-6, which forms 12.04% of the total population.

Situated in Chengalpattu Taluka of the Kancheepuram district, Navalur is a sprawling village home to 872 families. A population census in 2011 found that this rural area had a total of 3539 people, 1902 of which were male and 1637 female.

With the current trend favoring the above-mentioned locations for real estate, we, as one of the premier and pioneer builders in Chennai, recommend investing and living in apartments in OMR. Need help buying apartments in Chennai? Get in touch with us. We will help you buy an apartment of your choice as per your requirements.

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