Tambaram- Good Living and Great returns
Chennai was recently ranked 9th in the list of the world’s best cities, reaffirming market pundits belief that the future of Chennai’s realty growth is primed to go a few notches higher. Today, the city has attracted much attention from all the corners of the world because of its highly lucrative return on investments in realty and the continual improvement of living standards, infrastructure development and road connectivity. With a population largely comprising of working IT professionals and a sturdy industrial workforce, analysts believe that Chennai is grooming itself for yet another tryst with success.
It was earlier believed that the upsurge in real estate was mainly concentrated in the Western corridors’ business and industrial belts of the city, however, the growth story of Chennai has been so phenomenal that it has given a much needed push to fringe areas too. The Grand South Trunk Road (GST Road), OMR (Old Mahabalipuram Road), ECR (East coast road), ORR (Outer Ring Road) and the localities touched by these corridors have emerged as the favoured places for real estate investment by NRI’s, IT professionals, HNI’s, corporates and end users.
Tambaram, Guindy, Vandalur, Sembakkam and Velachery road have seen an influx of new projects and a healthy absorption of most of the inventory. These areas have seen a lot of improvement in infrastructure such as setting up of schools, institutes, hospitals, road expansions and increment of transportation facilities.
Conversely, Tambaram, positioned on the Chennai-Tiruchy highway, has by far been the biggest beneficiary of all this development and perhaps much of its success is due to its strategic location. Divided into Tambaram East and West by the railway station, this area, by virtue of being located on the GST Road (Grand Southern Trunk), serves as a midway to the IT and SEZ corridors. Cited as being one of the oldest localities in Chennai, Tambaram has seen an incremental real estate appreciation nearly as high as 37 per cent in the last one year and 22 per cent in the last two years.
Today, Tambaram has well established industrial enterprises nearby and affords quick road connectivity to the neighbouring areas and to the rest of Chennai. Besides, the fully functional flyover that connects Mudichur road and GST road to Velachery main road has been a boon for travellers and has considerably reduced travel time. Tambaram is about 27 kms away from the heart of Chennai and is easily accessible through bus, rail and the road. The MTC (Metropolitan Transport Corporation) buses are frequent and ply to various parts of the city.
Tambaram boasts of having its own railway station and it is perhaps one of the busiest terminals of the Chennai Suburban Railway Network. A number of suburban trains connect this area to nearby localities as well as to the beach. Tambaram is located roughly about 10-11 kms from the Chennai airport and one can reach it in a matter of minutes via the GST Road or the Velachery-Tambaram High Road.
Fantastic Return on Investment
Tambaram has earned the status of being one of the most preferred neighbourhoods in Chennai with property prices that have steadily moved upward. Rentals and realty prices are considered relatively stable as compared to other localities. 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.
The Tambaram Municipal Corporation has been instrumental in developing a spruced up and efficient infrastructure model with unique projects. The underground sewage programme as well as BINS- a solid waste management programme have been highly successful and have set an example for other municipalities to follow. Tambaram has faced very few civic and infrastructural problems and it can be said that this is the reason for its real estate success story.
East Tambaram or West Tambaram
Tambaram enjoys the distinction of all-round development in both the East and West. There are renowned schools, colleges, hospitals and a well-equipped civic and social infrastructure. Many restaurants, banks and shopping centres have mushroomed in both sides of Tambaram, besides, the presence of police stations, fire stations and the Air Force Station of the Indian Air Force have given the reassurance of a comfortable life to many families.
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. There is an upbeat optimism that there will be a further spurt in real estate prices.
Summing it up
Perhaps Tambaram was once been considered as the city’s limit, but today it enjoys the status of the CBD by itself and it is often cited as being the ‘Gateway of the beautiful Metropolitan city of Chennai’.
Today, as more and more end users and investors move southwards towards the IT and industrial corridors there will be an obvious need for quality housing and Tambaram reigns supreme for those who want to make extraordinary profits in real estate investments.