Underlining the fact that Tambaram is one of the top ten preferred locations to buy a home in Chennai, the area has been in the news recently for all of the right reasons. With many well established industrial enterprises and effective road connectivity, Tambaram is strategically positioned on the GST Road (Grand Southern Trunk) and serves as a midway to the IT and SEZ corridors. Furthermore, as is already well known, the GST road is regarded as one of the busiest National Highways connecting Chennai to Trichy besides linking the Chennai International Airport with Tambaram. All the important places in Chennai are linked via the GST road and its strategic significance is further enhanced by way of being a part of the Golden Quadrilateral National Highway Project.
Tambaram’s multi fold advantage
By the same token, Tambaram- divided into Tambaram East and West by the railway station, stands to be the biggest beneficiary of all this development and much of its success is due to its strategic location. What’s more, the Chennai International airport is located at Meenambakkam on GST Road directly connecting to Tambaram. By virtue of being located on the GST Road, it can be said that Tambaram has reaped a huge windfall for real estate investors.
The GST road connects to other parts of India via the NH-4 (National Highway 4) thereby linking Mumbai, Pune and Bangalore in the West. Furthermore, the NH-5 joins East in Bhubaneshwar and the GST Road connects Chennai with Trichy and with the NH-205 finally terminating at Mandapalle in Andhra Pradesh, one can begin to appreciate the impact of the GST road on Tambaram real estate prices.
The overall extended connectivity has led to increased residential prices in Tambaram East as well as Tambaram West. The raised guideline values along the GST road have further augmented the value of the properties here. Both, Tambaram East and West are densely populated and enjoy superb connectivity via the rail and road network.
Keeping in view the increased population, boost for tourism and the requirement for convenient access to recreational spots in Tambaram the Southern railway augmented the suburban train services to Kancheepuram by extending four EMU services on the Chennai Beach-Tambaram-Chengalpattu section.
Moreover, the Southern Railway made the Tambaram railway station a new terminal and owing to this superior connectivity it can be observed that this area has truly become a busy hotspot. What’s more, Tambaram 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.
Replete with Amenities
One can find many renowned schools, colleges, hospitals and a well-equipped civic and social infrastructure here. Restaurants, banks and shopping centres have mushroomed everywhere and there are over 10 super markets, 11 colleges and 15 hospitals in the vicinity. 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 residing here.
Up and Coming
The proposed six lane highway and the upcoming two-way tracks projected between Chengalpet and Tindivanam will connect Tambaram to other important towns of Tamil Nadu and there is an upbeat optimism that there will be a further spurt in real estate prices.
With property prices going northwards, the trends in Tambaram have been very positive. In fact, 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. Currently there are about 35 new ongoing projects with nearly 81% of the projects having fully completed and the rest being under construction.
Aiming to pander to the working class, the price bracket of the flats here is typically 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. It is thought that Tambaram mostly has apartments that cover about 60% of the over-all residential occupancy and that the estimated residential apartment prices ranging between Rs.3500-4500 per sq. ft. and furnished properties demand anything in the range of Rs. 4500-5500 per sq. ft.
East or West- Tambaram is the best
There is however a difference in the property prices between West and East Tambaram and it can be found that East Tambaram usually commands a higher price value as compared to the West.This can probably be attributed to the lush greenery and overall serenity versus the commercial hustle bustle of West Tambaram.