Realty hot spot series: A locality in Chennai eyeing a boost in residential demand

In this week’s Realty Hot Spot series, we take a look at the area along Chennai’s Old Mahabalipuram Road (or OMR). With proximity to key job hubs and good social infra, the area is eyeing a boost in residential demand due to the proposed Chennai Metro Phase-2. Old Mahabalipuram Road and East Coast Road provide widespread road connectivity for the area.

Properties here are available in the price range of Rs 3,400-8,400 per sqft. A 1-BHK (580 sq ft) can cost an average of Rs 33 lakh and a 4-BHK (2,320 sq ft) can cost Rs 1.35 crore. Here are other draws that make this area a real estate hot spot.

Locality snapshot

• Elcot SEZ and SIPCOT IT Park are the key IT/ITeS parks and SEZs in the region
• Phoenix Market City, Palladium Mall and Vivira Mall are the major shopping malls in the proximity
• Chettinad Health City and Gleneagles Global Health City are the well established hospitals in the area
• Old Mahabalipuram Road and East Coast Road provides widespread road connectivity
• Residential demand to be boosted further by the proposed Chennai Metro Phase-2

Supply by BHK

Consumer preference by budget segment (Rs)

Consumer preference by covered area (sq ft)

Schools: 15+
Hospitals: 10+
Restaurants: 20+
Banks: 20+
Grocery Stores: 20+
Petrol Pumps: 10+

Source: Magicbricks