Old Mahabalipuram Road- Investment in Residential properties of OMR

Old Mahabalipuram Road or OMR is located in the southern zone of Chennai. The 50-kilometre long stretch is also known as Rajiv Gandhi Salai and connects Chennai to Mahabalipuram Road, stretching from Madhya Kailash Temple in Adyar to Mahabalipuram, a temple town in Kanchipuram District. With a myriad of facilities available to the people of South Chennai, the realty market of Old Mahabalipuram is ballooning not only for commercial properties but also for the residential spaces.

Below is a brief discussion of various factors that is making the town a new place for the residential dwellings of all shapes and the sizes.

The town is a well-known IT corridor, housing some of the renewed companies like TCS, Cognizant, HCL, Ramco Systems and many more. Presence of these companies has benefitted the realty industry of the town in two ways. Firstly, it has increased the economic activities of the town by providing the ample amount of job opportunities to the people of Chennai. The employability has resulted in the demand for the residential properties as people are choosing to stay in the town and experience a high standard of living. Secondly, people are now saving their valuable time in commuting to the office spaces as Old Mahabalipuram Road is in vicinity to the leading business centres.

While on the topic of connectivity, it is worth mentioning that the town provides smooth connectivity to the neighbouring localities, educational institutions, health care centres, entertainment zones, financial institutions, entertainment zones and other civic utilities.

As per the data on 99acres.com, the prices of apartments have risen by 6.67 percent in the last three years. Prices have gone up from Rs. 3950 per square foot in January-March, 2012 to Rs. 5200 per square foot in April-Present, 2015. The aforementioned acceleration in prices clearly gives us an idea that housing demand in OMR is increasing day by day and therefore gaining attention of many property developers and potential buyers alike.

Below is a list of various new projects by well-known developers, so just go through the information and book a residential apartment as per your liking.

RESIDENTIAL PROJECTS

• Akshaya Private Ltd. is coming up with its new residential project Akshaya Today which is located in OMR, Chennai South. The project aims to offer luxury living with all the latest facilities and ultra-modern amenities like club house, day care centre, shopping centre, meditation centre, sports complex, lush green landscapes, power back up, kids play area and car parking. The beautifully designed akshaya today 2BHK apartments will be available in a price range of Rs. 21.05-41 lakh and 3 BHK apartments are available in the price range of Rs. 35.6-46.62 lakh. The project is in proximity to other civic utilities and the group will start its apartments’ possession by September, 2016. 
  

• Royal Splendour Akshara, a residential development by Royal Splendour Developers is situated in OMR, Chennai South. The project offers well designed 2-3 BHK apartments with all the facilities and amenities and available at the affordable prices. The project is in proximity to civic utilities and is well connected by all means of transportation. Possession of the project will start in March, 2017. 
  

• Vijay Raja Spruce by Vijay Raja Homes is a new residential project which is located in OMR, Chennai South. The 3BHK apartments will be available at affordable prices and the apartments are well equipped with all the modern facilities and amenities like club house, rain water harvesting, and car parking. It promises an advantage of proximity to civic utilities and the possession of apartments will start in May, 2015. 
  

Author Bio: - Aakanksha Pasricha writes for 99acres.com. She has been writing for the real estate developments happening in different parts of India. When she isn’t writing she browses around the high streets as she definitely has an eye for details. You can visit her @G+aakanksha.