The 18-km stretch from
the IT corridor in Kelambakkam to the Grand Southern Trunk (GST) road
junction at Vandalur was lying low for quite some time due to the
hectic development of residential property in Chennai on either facet
of the corridor. With the soaring land costs and acute scarcity of
land for housing development, the horizontal road that connects both
corridors is bristling with activity, because of the improved
connectivity levels and willingness on the a part of Chennaiites to
shift from town areas.
There is another
excuse as well for the sudden shift in trend. With the supply of
enormous residential land, property developers may set up huge
residential property in Chennai with a comprehensive vary of
amenities which will convince the folks that it's time to live in a
gated community development for various reasons.
established developers have ongoing residential property in Chennai,
on either facet of the Vandalur-Kelambakkam road. These vary from
luxury flats to villas, plotted development, reasonable housing.
Among the developers who have ongoing property in Chennai, specific
mention should be made regarding Puravankara Group, Real Value
Promoters, Unitech, Vijay Shanthi Builders, Sobha Developers, Isha
Homes, SSPDL, Artha, Emaar MGF, Provident Housing Development, among
others. There being variety of reasonable housing property in Chennai
are possible to alter the skyline of the locality in the future
years. Residential Property in Chennai costs for ongoing projects
vary from Rs 2500 to 3900 per sq ft whereas row homes are quoted at
Rs 3500 / sq ft. Developed plots in areas like Vengambakkam are
quoted at Rs 1000 per sq ft.
The presence of engineering
colleges, VIT University and Chettinad Hospital have pushed the
demand for housing and nudged others to shift to suburbs. A couple of
colleges and schools are due to come back up within the corridor.
Because the GST corridor is bustling with activity due to lack of
infrastructure and soaring land costs, Vandalur-Kelambakkam road came
in handy for developers to appear at housing development due to
availability of enormous land and willingness on the a part of
landowners to decide on joint venture development. This has enabled
variety of property developers to create a beeline in search of
appropriate land for development. Because the connectivity levels
have improved and housing costs are competitive, those operating
within the IT corridor would be keen to invest in the future years as
costs are however to the touch the IT corridor level.
social infrastructure is lacking, Vandalur junction is poised for a
significant turnaround in development. Aerens Gold Souk is below
construction close to Vandalur on GST road. Having improved
connectivity levels to Oragadam via Tambaram-Mudichur road the
locality offers smart transport connectivity for blue-collared staff
to invest in housing as social infrastructure is gradually improving
within the neighborhood. The road broaden work on GST road is long
overdue and can go a protracted approach in improving the development
of residential property
The growth corridors of Chennai and
therefore the resultant infrastructure development have pushed the
land costs to a new level of height. As a result, there's a spurt in
demand for developed plots in peripheral and suburban areas.
Investors like developed plots within the medium to long-term so
it'll function a hedge against inflation.
Explosion in residential development in Chennai locality