Chennai
Till a decade back, Oragadam, a town located on the outskirts of Chennai, was sleepy with vast silent tracts of land. But today the locality presents itself as one of the fastest growing suburbs of Chennai. The locality known as the biggest automobile hub in South Asia is evolving into a multi-faceted industrial zone and will soon be developed into self-contained areas with residential spaces, educational institutions, hospitals and other social infrastructural facilities.
So what are the driving factors? The locality is strategically located between two national highways- NH-4 and NH-45. It is also well connected to the Chennai port, the Chennai Central railway station and an international airport. The area houses leading auto manufacturers, auto component companies, logistics or warehouse service providers, IT and ITES operators and a host of FMCG companies.
Due to the rapid industrial and infrastructural development, the area has caught the eye of the builders, which further created lot of residential development in the Oragadam region in the last few years.
To cater to the growing demand and working population, there are many renowned developers such as Inno Group, MARG ProperTies, Rich India Cityscapes and Tata Housing etc. already have their presence in the locality.
On a chat forum – Guru Talk organised by MagicBricks.com, S. Ramakrishnan, CEO, MARG ProperTies, said, “Oragadam is the latest on the radar of many real estate developers in Chennai. This place is doing well in terms of infrastructure development. The locality has huge potential to grow in the next 5 years.
“The multi-storey apartments in Oragadam region are available between the ranges of Rs 2,500 – 3,500 per sq ft”, he added.
Many believe that the locality is becoming major attraction for NRIs too. “NRIs working in the IT or manufacturing belt are seeking property in the suburbs close to the workplace which is further escalating the residential demand”, said, U. Mohan, local realtor, from Konnect Realty.
Neha Nagpal, MagicBricks.com Bureau
Source: http://content.magicbricks.com/oragadam-fastest-growing-suburb-in-chennai/
