Showing posts with label Guduvanchery. Show all posts
Showing posts with label Guduvanchery. Show all posts

Monday 11 February 2013

Residential market grows in Guduvanchery-Thiruporur Road, Chennai

Chennai

Strategically located on the Grand South Trunk Road (GST), Guduvanchery has always been a preferred a residential location in Chennai owing to its excellent connectivity and immediacy to SEZz. However, the buyers’ focus is now shifting towards the road stretching from Guduvanchery to Thiruporur. This is a result of escalating residential values in the locality owing to increased guideline values along the GST road. Thus, Guduvanchery, once considered amongst the affordable locations of Chennai suburbs, has become relatively expensive now.

The Guducanchery-Thiruporur stretch has been brimming with real estate activity for quite sometime now with pace of construction and sales picking up in the last six months. “Several developers have completed their projects here while others are under construction,” says Abdul Kasim Tariq of Smart Choice Realty, a city based firm. “Nearly 2000 apartments,” continues Tariq, “have come up on this road of which about 1000 are completed while the remaining would be given possession in another 2-3 months.” Some of the developers to have set base here include Lancor Developers, DVS Developers and Sriram Shankari Developers among others.

Demand on this stretch is being driven by the two SEZs. Guduvanchery falls between the Mahindra World City and MEPZ, both located 13-15 km away. “The maximum demand exists for 2BHKs followed by 3BHK units which are available for a price range of Rs 2,400- 3,000 per sq ft,” informs Tariq.

At present the Guduvanchery-Thiruporur road is generating a lot of interest from the investors. Talking about this Tariq says, “Nearly 60 per cent buyers are investors who either invest for long term returns or for rental returns. Only about 30-40 per cent demand comes from the end users.” The stretch has seen an average appreciation of nearly 40 per cent in capital values of projects in the last 2 years thus promising good return on investments. There is also a huge demand for rented units from the professionals working in the SEZs. The rental values vary between Rs 8000-9000 per month for a 2BHK units and it ranges from Rs 10000-12000 per month.

Source: MagicBricks.com

Monday 3 September 2012

A rise in plotted development projects in and around Chennai

Chennai

Industrial growth, better connectivity and infrastructure development have led to a spurt in the number of plotted development projects in and around the city. While there is a constant demand for apartments, villas and other housing projects, over the years, there has been a rise in the demand for plots as well. S Ramaswamy, Assistant director, RECS Group, says, “GST Road, Sriperumbudur-Oragadam belt and ECR are the top three growth corridors that have seen a surge in the demand for organised plots. There is a good demand for plots in and around Chennai due to factors such as good road connectivity and the horizontal industrial development in the suburbs. The availability of transportation facilities plays a major role in the organised plot development market, especially on the outskirts of Chennai.” S Mohan, MD, Wisdom Properties, says, “Individual plot development in and around Chennai is on the rise.”

Mohan says, “The primary areas include the Southern Suburbs comprising Chengalpattu, GST Road, Oragadam till Kanchipuram and the Eastern Suburbs – areas till Mahabalipuram. Development in the Central suburbs that include prominent localities such as MRC Nagar, Triplicane, Teynampet, Nungambakkam and T Nagar will gradually pick up over the years.”

He adds that with the number of software and manufacturing industries foraying into the city, the demand for plots in peripheral and suburban areas of Chennai has increased manifold. “There are a number of employment opportunities in the city, and people migrate not only from other states but countries as well. This has further increased the demand for plots,” he adds.

Highlights of the three primary growth corridors

GST Road
- Proximity to already developed areas such as Tambaram and Guduvanchery
- Connectivity by rail and road to localities such as Oragadam and areas along OMR
- The presence of a number of industries such as the Maraimalai Nagar Industrial Estate, for instance
- A viable investment for future developments, thanks to the kind of residential and industrial development along this belt

Sriperumbudur-Oragadam
- Hub of industrial development in the city – An affordable alternative to investing in apartments
ECR
- Good connectivity and proximity to the city centre – Proximity to OMR and prominent IT establishments – Scenic beachway with good social infrastructure

Source: The Times of India, Chennai