Rising property trends in Chembarambakkam
There has been a slowing down in the real estate scenario of late; sales areno longer at an all time high and prices have seen a correction of sorts. Market pundits believe that while these vagaries are not unusual in other cities of India, Chennai has usually been well protected from these up’s and down’s. Today, Chennai is counted among the fourth largest metros in India and the economy is getting a push like never before. More and more fringe areas are getting merged with the suburbs and real estate in Chennai has become a talking point.
Builders and land developers are queuing up a variety of projects that suit arange of housing needs; budget homes to luxurious skyscrapers, villas to studio apartments—the Chennai realty is overflowing with options. What is noteworthy is that a lot of home buyers are purchasing and residing in these houses rather than merely investing in them. Research suggests that a lot of these home buyers belong to the industrial workforce and not just IT as it is made out to be; nonetheless, IT personnel does constitute almost 97 per cent of home buyers.
The trend of affordable housing
The south-west of Chennai has seen maximum development of affordable housing projects and real estate developers have begun to focus on suburbs such as Sriperumbudur, Oragadam, Chembarambakkam and Siruseri, as these areas are endowed with cheap land and a fast developing infrastructure.
The key factor of growth in these areas can be attributed to the NH4(Chennai-Bengaluru highway) becoming part of the Golden Quadrilateral, thereby improving the connectivity offered by the Tambaram-Manali Chennai Bypass Road. Chembarambakkam is located on the fast developing industrial belt extending up to Sriperumbudur and more so by virtue of being located in the vicinity of Kuthambakkam and Poonamallee, the area has benefited immensely. One has to only visit the area once to appreciate the flourishing real estate options here.
Additionally, the recently opened ORR (Outer Ring Road) from Vandalur toNemilichery has furthered Chembarambakkam’s connectivity. One can safely conclude that the road infrastructure has been a prime reason to the spurt in real estate development. What’s more- the four-lane roads from Hoskote to Dobbaspet and from Mulbagal to Renigunta via Chittoor, the construction of a dry port and green field airport at Sriperumbudur and a dedicated high-speed freight corridor have provided the required impetus to massive popularity of Chembarambakkam.
Aside from the road connectivity, Chembarambakkam is a water-rich area; the rain-fed Chembarambakkam Lake serves as a perennial elixir and ensures that nearby residents never have to go without water supply. While several other parts of Chennai may remain water-starved areas, one can be sure that Chembarambakkam never faces such a problem.
The area is well-connected via regular bus services besides havingsynchronised all-round infrastructural development with many local and international schools such as ‘The St. John’s International School’, and engineering and medical colleges like the Ramachandra Medical College with its in-house hospital, entertainment zones such as the Queensland theme park and restaurants and convenience stores interspersed around in the area. The sewage and water lines are well laid out and contribute to make Chembarambakkam a truly self-sufficient paradise.