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Why investors are pumping in funds in real estate properties in Vandalur

Buzzing with action
Long infamous for being home to the Arignar Anna Zoological Park or the Vandalur Zoo, Vandalur had nothing else to its credit. Today, the tables have turned and how. The proposed monorail project has put Vandalur back into action and investors are eyeing this area with a renewed vigour. Moreover, the immediate connectivity to ORR (Outer Ring Road) and GST Road (Grand Southern Trunk Road) have made Vandalur the hottest new realty destination.

What’s more, the Rs. 27-crore Vandalur-Walajabad flyover, spanning a distance of 1.48-kms has gone on to cement Vandalur’s position as a top real estate haven.
Location Benefits
Positioned in the south-western part of Chennai city, Vandalur is easily accessible via the rail or road network. It is a mere 5 kms from Tambaram, Urapakkam, Perungalathur, Mudichur and Padappai. No other suburb in Chennai affords quick accessibility like Vandalur does; in fact it is a very significant station, with the Vandalur railway station connecting to the Chennai Suburban railway line, Egmore and Tambaram (one of the most important railway terminus’ in Chennai)

Frequent direct buses operate to and from Poonamallee, T. Nagar, Tambaram, Broadway, Mandaiveli and take under its ambit the Vandalur bus stop as well. This provides a convenient mode of daily travel for many residents living here.

Furthermore, investors are upbeat about the proposed monorail project that will connect Vandalur to Chennai in a two-pronged approach. The route will connect Poonamallee in the northwest of Chennai and Vandalur in the far south through two corridors that will meet near the Kathipara intersection.
The government is soon expected to announce the alignment for the second corridor between Vandalur and Kathipara, via Perungalathur, Irumbuliyur, Tambaram East, Sembakkam, Medavakkam and Velachery. In effect the first will connect Vandalur to Puzhal and the other will connect Vandalur to Velachery.

Vandalur-Walajabad flyover
The Rs. 27-crore Vandalur-Walajabad flyover, spanning a distance of 1.48-kms was constructed in order to replace the level crossing near the Vandalur railway station. It was an ambitious project that was successfully implemented by the state government. Built at a cost of Rs. 22 crore, the railways jointly allotted Rs. 5 crore towards the construction. The flyover connects the east and west side of the Vandalur railway station.

Arignar Anna Zoological Park
The Arignar Anna Zoological Park or Vandalur zoo is a zoological garden home to over 170 species of mammals, birds and reptiles. It is credited with being the first public zoo in India and even today continues to attract tourists from all over the country.

Appreciating the appreciation
To fully understand the implications of the gargantuan development and its effects on real estate profitability, one must get a feel of the connectivity that defines Vandalur.

The Vandalur-Kelambakkam, 18 km stretch of road starting from the IT corridor in Kelambakkam to the Grand Southern Trunk (GST) road junction connects Vandalur to the GST and Old Mamallapuram road (OMR). This stretch connects it to the various areas inside and outside the city. The Vandalur-Kelambakkam stretch of road is approximately 24 kms away from the airport, 44 kms away from Chennai Egmore station and 46 kms from Chennai Central. The Vandalur LRT station will be 13 kms away from the road.

Further, the ORR connects Vandalur in NH-45 (GST) placed in the South-Western edge and close to the Ennore Port and other industrial developments in the Northern areas. The road will run via Nazarathpet on NH-4 (Bangalore Highway), Nemellichery on NH-205 (Chennai-Tirupati-Anantpur Highway) and Padayanallur on NH-5 (Chennai-Calcutta). The Vandalur to Nemillichery (on Chennai-Tiruttani highway) stretch comprising of 29.65 km is being implemented as Phase-1 of development. The ORR (Vandalur – Minjur) is an epicentre for all major transportation networks and it is being developed along the border of Chennai Metropolitan Area by the CMDA. There are expectations that a proposed satellite corridor will be developed along the Outer Ring Road (ORR) for commercial development.

The government has also proposed to open a 65-acre terminus between GST road and ORR (Outer Ring Road) in Vandalur. It is estimated to be twice the size of the CMBT (Chennai Mofussil Bus Terminus). It aims to reduce traffic congestion in the Koyambedu facility and effectively manage the south bound long distance buses.

This rapid road progress will ease travel for the thousands of daily commuters working in the IT/ manufacturing industries in and around OMR, Oragadam, Perungalathur, Guduvancherry and Tambaram and who pass through the IT corridor everyday.

Synopsis
The proposed overhaul of infrastructure and transportation may seem like it is a work in progress and that there are no immediate gains to be made. Market pundits believe that per sq. ft. rates here are very reasonably priced and one can get a 2 BHK flat of size 900 – 1100 sq. ft. within a typical price range of Rs.3, 500/- to Rs. 7,000/- per sq.ft. Reasonable, isn’t it? Besides, it is usually seen that the price trend tends to appreciate steadily in this suburb, rather than experiencing heavy fluctuations like other areas.

With all this heavy duty development in process, the future for Vandalur real estate definitely looks bright and lucrative.

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West Tambaram offers huge investment-potential

A promising location with a massive investment potential !

Tambaram is often referred to as being one of the oldest localities in Chennai; however that’s not the only thing it is well-known for– Tambaram has emerged as one of the most preferred localities in Chennai for home buyers. Recent studies note that there was an increment in appreciation, nearly as high as 18 per cent in the last one year and 22 per cent in the last two years. Those who invested early enjoyed a handsome capital appreciation on their real estate investments in West Tambaram.

The demand and supply situation for housing is fairly well balanced and the infrastructure is well organised to take on an increasing demand. Keeping these considerations in mind, home buyers seem to be making a beeline to Tambaram and there is a plethora of incredible projects that have already been constructed or are in the pipeline. Tambaram has justly been hailed as one of the most important epicentres for commercial and residential activities in Chennai.

Reasons for the uptrend

Tambaram is located on the GST Road (Grand Southern Trunk) and serves as a midway to the IT and SEZ corridors. It is because of this strategic location that the area is teeming with a flurry of commercial and residential developments. Tambaram has well established industrial enterprises nearby and affords quick road connectivity to the neighbouring areas and to the rest of Chennai.

The area is in close proximity to the Chennai airport; it is a mere 10-11 kms away from West Tambaram through the GST Road. The railway station is
3.5 kms away from West Tambaram, besides it boasts of being one of the busiest railway terminals of the Chennai Suburban Railway Network. Being situated advantageously along the Chennai-Trichy Highway, Tambaram is approximately 27 kms away from the city centre and one can reach important landmarks quickly.

All these features have brought Tambaram in the limelight and it has gained favourable popularity among IT professionals, NRI’s and High Net worth Individuals (HNIs) for residential properties. Tambaram is dotted with many renowned colleges and schools such as Valluvar Gurukulam, Jain Vidhyalaya Matriculation and Higher Secondary School. Recreation is also in easy access with the Kishkintha Theme Park being located at the intersection of Darga Road and the Outer Ring Road.

Well Organised Infrastructure

The meteoric rise in demand for apartments in Tambaram has resulted in over 60% of total residential occupancy and it is easy to find properties that suit a wide range of needs, ranging from luxury apartments to mid-level housing.

Tambaram is separated into Tambaram East and Tambaram West with the main road through West Tambaram connecting the districts of Lakshmi Nagar, Krishna Nagar, Bharathi Nagar, Old Perungalathur, Madhana Puram and Mudichur, ending at the Vandaloor-Oragadam road. One will find that while both areas are doing well, West Tambaram has presented a more lucrative option because of the development of the Vandaloor-Nemilichery Outer Ring Road.

West Tambaram has shown to present an affordable option compared to its eastern counterparts and one can find that this area is more suited for those who prefer a relatively more peaceful and green environment. There is a police station as well as a fire station in West Tambaram and contribute to making this locality peaceful, safe and tranquil. The Tambaram Municipal Corporation has introduced several new local initiatives that have garnered support from the residents and have set an example for other municipalities to emulate.
Collectively, all these features make West Tambaram a modern day utopia in the making.