Investors are moving to Tambaram. Here’s why
Located on the GST Road (Grand Southern Trunk) Tambaram serves as a midway to the IT and SEZ corridors. The GST road is regarded as one of the busiest National Highways connecting Chennai to Trichy. It starts from Kathipara junction at Guindy and connects the Chennai International Airport with many areas such as Tambaram, Pallavaram and Chrompet.
With many well established industrial enterprises and effective road connectivity Tambaram has elevated as one of the top ten preferred locations to buy a home in Chennai.
The story so far
The origins of the name ‘Tambaram’ have probably been derived from an ancient temple by the name Tamburamana Gunaseela Nallur. The name was shortened and it was rechristened Tambaram. Often referred to as being one of the oldest localities in Chennai, Tambaram was merely considered as a satellite village in the outskirts of the city. However today, this locality has undergone a metamorphosis and is regarded as one of the fastest growing suburbs in South Chennai. Home to one of the busiest railway terminals of the Chennai Suburban Railway Network, Tambaram is buzzing with activity.
The Scenario today
Situated along the Trichy-Chennai Highway, Tambaram is sub-divided into West Tambaram and East Tambaram with the Chennai Suburban Railway station serving as a divider between both. The area is densely populated and enjoys superb connectivity via the rail and road network. In fact, a few years back the Southern railway augmented the suburban train services to Kancheepuram by extending four EMU services on the Chennai Beach-Tambaram-Chengalpattu section. This was done keeping in view the increased population, boost for tourism and the requirement for convenient access to recreational spots. Additionally, the Southern Railway made the Tambaram railway station a new terminal, aside from the existing terminals at Chennai Central and Egmore.
Today Tambaram has become a busy hotspot owing to its proximity to commercial industries. Besides, it serves as a town panchayat for the smaller areas adjoining East and West Tambaram with suburbs such as Mudichur, Mannivakam, Padappai adjoining West Tambaram and Selaiyur, Camp Road Madambakkam neighbouring Tambaram East.
The massive spurt in real estate development in Tambaram has presented investors and end buyers with abundance of residential properties and for those who invested early, Tamabaram has rewarded a handsome capital appreciation. The increment in capital appreciation has been nearly as high as 18 per cent in the last one year and 22 per cent in the last two years.
One good reason to invest – here’s many
Currently there are about 35 new ongoing projects with nearly 81% of the projects having fully completed and the rest being under construction. The price bracket of the flats here is usually within the price range of Rs 10 to 40 lakhs and rentals are usually to the tune of Rs10 to 14 per square feet depending on the project and flat furnishings.
Analysts predict that once the proposed Monorail commences there will be greater appreciation in property rates. In fact, Tambaram will perhaps be the closest metro station in the forthcoming Metro Rail project and one can expect 20% price appreciation over and above the existing rate windfall. Further spurring the growth is the proposed six lane highway and the upcoming two-way tracks proposed between Chengalpet and Tindivanam that will connect Tambaram to other important towns of Tamil Nadu.
Tambaram stands to gain even further when the proposed Tambaram Eastern Bypass Road comes up. The road will bypass Tambaram and be used by commuters from Velachery, Thiruvanmiyur and Perungalathur to join the NH45.
Its good going…all the way
Tambaram enjoys the distinction of all-round development and one can find many renowned schools, colleges, hospitals and a well-equipped civic and social infrastructure. Many restaurants, banks and shopping centres such as Naidu Hall, Sharptronics, Kelvin Electronics and Mega Mart have mushroomed here.
Some of the localities which were once deemed as Chennai outskirts have recorded price increments by up to 75 percent and it is expected that in future they will continue to enjoy huge returns too. Tambaram is one such case in point. Once considered as the city’s limit, Tambaram today enjoys the status of the CBD and is often cited as being the ‘Gateway of the beautiful Metropolitan city of Chennai’.