Mr.S. Elango Managing Director of ABI Group of companies has vast experience in the areas of land promotion, negotiation, marketing, purchase and liaison. His prudent vision coupled with the unswerving belief in quality service percolates in building the company’s reputation and growth. He has tirelessly promoted ABI Group which has firmly established an unparallel niche in the field of Real Estate, in each of their projects.
Buyers nowadays are aware of the various trends in the real estate market, and have a ready reckoner on the best localities to invest. Informed decision making is an important factor to zero in on the perfect property. The price of a locality is dictated by its proximity to various facilities, ease of transportation and its position in the city. These factors are crucial to make decisions for the buyer. The real estate market needs a good supply of land that can be developed upon with facilities and social infrastructure. It’s a difficult proposition and easier said than done. But, the change has to start somewhere, and why not with us?
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Land investment has proved to be one of the relatively stable options for long term investment and returns. Real Estate has improved drastically over the years and realtors have been offering various options like affordable buying plots, pre-construction, ready-to-move-in and other stages of building. Chennai’s Real Estate has been rapidly increasing and the residential sector in particular has been booming in many surrounding areas. We present you a list of the best places in Chennai to invest for those potential homemakers who are willing to experiment, but also guarantee good returns.
Major Indian metropolitans are being blessed with a lot of companies and job opportunities. Spotlighting Chennai, the city is densely populated not only because of the natives but also due to the emigrants into the city. Due to the increasing population, Chennai is experiencing rapid residential development. But many are really confused about the right place to invest in a property
The employment opportunities in the IT sector has made people get into an IT firm. This has made them establish their living close to the workplace with which OMR is a synonym to IT in Chennai. Apart from this primary reason, OMR also justifies itself to be an ideal place for investment on a residential property in Chennai. Let’s have a look at some facts about OMR.
Siruseri is one of the rapidly developing areas of Chennai. It also falls under the recently added Chennai City Corporation Area. Being sited close to the OMR IT Corridor, it gains both residential and commercial fame. The locale has round the clock transport facilities to different areas of the city.A section of Metro Rail Phase II will run above an elevated road for 17.2 km, from Taramani to Siruseri.
When the sleepy Old Mahabalipuram Road turned into the IT Expressway in the early 2000s, the city reinvented itself to be the metropolis that it is now.
Now, the already congested six-lane IT Expressway is all set to turn futuristic. If the project takes shape, then there will be a four-lane elevated road and above that will be the elevated corridor of Metro Rail — right from Taramani to Siruseri, for a distance of over 17 km over the Expressway.
This cutting edge infrastructure project has come about after the Chennai Metro Rail Limited (CMRL) and the Tamil Nadu Road Development Company (TNRDC) came to an understanding.
The first phase of the elevated road that will run from SRP Tools junction to Siruseri will be at a height of 5.5 metres from the road and Metro Rail will be 4.5 metre above that. The six-lane road, which became a toll facility in December 2008 with some 63,000 vehicles using the road on an average every day at that time, now has over 1.30 lakh vehicles plying on it daily.
According to TNRDC officials, the project was proposed six years ago and the detailed project report has been submitted to the State government which is in the process of working out the funding pattern.
The elevated road, which is likely to be taken up first among the two projects, would be 17.2 km long and will take two years to complete. “As far as possible, we are looking at pre-fab structures so as to reduce time of construction and also since we cannot take much road space during the work,” the official said.
According to Chennai Metro Rail Limited (CMRL) officials, they have decided to have an elevated corridor along the six-lane road since it has enough width and would be easier to complete construction. This stretch running to about 22 km will cover 22 stations including Tidel Park, Perungudi, Okkiyampet, Infosys, Sathyabhama University, Siruseri and SIPCOT.
“That corridor has a huge IT population commuting. Hence we decided to incorporate it in Phase II,” an official said.
In Phase I project of Chennai Metro Rail too a flyover was constructed below the viaduct at Vadapalani; but it took almost six years to complete it. Gitakrishnan Ramadurai, a member of the Transport Engineering faculty at IIT-Madras said, “It takes 8-10 years to construct such projects. It is important to have transit-oriented development for Chennai Metro Rail to be successful. Since Metro Rail may take long and demand would be less without transit oriented development, in the short term, bus rapid transit may be a cost-effective solution.”
A traffic planner said that lack of grid development along the road has led to vehicles being forced to use the main carriageway and the service lanes wherever possible. “There are no proper roads connecting to the ECR, which is just over a kilometre away. That road could take on some of the OMR traffic. Only those motorists who don’t mind taking small internal roads and know the routes take them to reach ECR,” he said.
With round-the-clock connectivity and approach to the city, Tambaram is one of the most sought investment destinations for residential property in Chennai. Get a glimpse at the facts below before planning your property investment in Tambaram.
Location Advantages: Tambaram is one of the topmost suburbs added under the Chennai Metropolitan Planning Area, which was under the Kanchipuram district earlier. This highly developed area has a great connectivity through both road and rail networks and has a convenient access to all basic utilities.
Locality: Urapakkam and Guduvanchery, a part of Chennai Metropolitan Area is growing at a very fast pace. It is surrounded by major areas like Vandalur, Perungalathur and Tambaram with great connectivity. The area receives a healthy demand for residential properties.
Sound enough in connecting the OMR, Velacherry, Pallavaram, and Tambaram, Medavakkam has been attracting several people in to buy residential property in Chennai and establish their lifestyle here. Not only the commute, but Medavkkam also proves itself to be an ideal place to buy a residential property in Chennai due to the following reasons.
Hope we have furnished the proper factual information that would be useful for one who wants to buy residential property in Chennai. We wish ‘Happy buying! Happy family!’ on your lifetime investment.