Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Explosion in residential development in Chennai locality

By Subhash Kumar Subscribe to RSS | August 4th 2012 | Views:

Due to surge in demand, land costs in plotted development property are up by twelve percent within the last one year alone in specific areas like Trivellore, Sriperumbudur, Sunguvarchatram-Wallajahabad road and Singaperumal Koil. With the advance in connectivity levels and proximity to both bus and rail transport, there has been a sudden explosion in the range of plotted development property mushrooming in peripheral and suburban areas. Whereas some plots are sold and others are keen to undertake housing development particularly when it's developed on a bigger land space.

Keywords -

property in Chennai, residential property Chennai, Chennai property, real estate Chennai, Chennai properties, residential real estate Chennai, Chennai real estate, flats for sale Chennai, apartments in india, flats in Chennai


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.

Over fifteen 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.

Though 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 in chennai.

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.

For Further Detail Visit -

Subhash Kumar - About Author:
PropTiger is an independent real estate advisor with a pan-India presence. We aspire to be your first port of call If you want to buy a property in chennai.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Real Estate Articles Subscribe to RSS

Port Washington property a true place to gamble your money
Published by Jack Smith on July 17th 2012 | Real Estate
People are ready to gamble their money, but everybody wants to make good money from their investment...
Equity for buying strata property investment
Published by Chris Whelan on January 3rd 2012 | Real Estate
Equity in strata property is helping most to fulfill their dream of owning a property and can save m...
The Roller Coaster Ride of Rental property Dubai
Published by Mark Castellino on December 1st 2011 | Real Estate
The best way to start up any business in Dubai is to find out the best location first then go for th...
When you’re spending it large for property it’s advisable to ease up the conveyancing process
Published by Himton Thomas on February 12th 2012 | Real Estate
If you are looking for a cheap and good conveyancing, you need to keep a few things in your mind....
Real Estate Agent can be a good Profit maker for your property
Published by Mayank Gandhi on February 28th 2012 | Real Estate We provide easy to find Real Estate Agent for consumers vendors to make searching ...
Letting agents can help find good property
Published by Matthew Watson on June 4th 2012 | Real Estate
The letting agents have a critical role to play with the rental property letting. For tenants they c...
How to invest in property- by Ian Comnys
Published by Ian Comnys on March 20th 2012 | Real Estate
There are three key areas property investors should look at when finding the right location to inves...
Mohali property offering plethora of investment options
Published by Deepti on April 12th 2012 | Real Estate
Mohali, often termed as the Eco town of Punjab, is emerging as the favorite place for property in...
Looking to rent a house in Huddersfield? Head to Martin & Co for property rental in Huddersfield
Published by Ademholt on July 12th 2012 | Real Estate
Are you planning to rent a house in Huddersfield?
Get in Touch with the Martin & Co. Estate Agen...
Get the best value of your property with Folsom Property management
Published by Nishaidhijames on August 23rd 2012 | Real Estate
Sale and purchase of property is an important part of man’s life. A person always tries to buy a h...
Things to consider before property foreclosure
Published by Matthew Watson on July 5th 2012 | Real Estate
When you are to mortgage your property there are certain things that you can do to enhance the overa...
Welcome good tenants to your property by choosing the convenient way of screening your tenants
Published by Pamela Walker on March 15th 2012 | Real Estate
Landlords and property managers should understand that bad tenants can give them sleepless nights. S...
Why you should rent a property for your family?
Published by Andy Wagon on February 15th 2012 | Real Estate
To determine which properties are good indeed quite difficult, especially when some properties are n...
Hurry up to purchase your dream property in Aruba
Published by Sothebysrealty Aruba on March 16th 2012 | Real Estate
Due to an increase in the importance of Caribbean land, the real estate business in Aruba is the pro...
Three reasons why investment property repairs should be left to the professionals
Published by Ian Comnys on December 12th 2011 | Real Estate
Exchange licensee Ian Comyns shares a recent case which shows what can go wrong when landlords do th...
Real estate agents for your property needs
Published by Glyn Jones on June 4th 2012 | Real Estate
The estate agents can help find the right kind of properties that suits your specific requirements a...
Get a good office property in Gurgaon
Published by Atul Sharma on May 21st 2012 | Real Estate
The article is based on real estate property in Gurgaon. It talks about how you can get a good prope...
What a property Valuation Report Shows Us
Published by Ariel Linford on April 18th 2012 | Real Estate
Property valuation report is the best and easiest way to get a perfect and accurate value of your pr...
Guarantee continuous income with sensible property investments
Published by Sophia Milller on December 13th 2011 | Real Estate
There are so many places where you can invest your money. Buying assets is the best thing to do when...
Delimitate facilities with affordable investment in residential property
Published by Bhubaneswar Property on May 14th 2012 | Real Estate
The most prime factors for choosing flat at Bhubaneswar are very good communication, close to IT Sec...