South Chennai Property Market Witnessing an Inflow of New Projects

South Chennai has marked some interesting growth trends in terms of real estate lately. This area has witnessed the maximum value appreciation of no less than 15 – 20 % and is home to the highest number of newly launched properties in both commercial and residential segments. In South Chennai, areas like Alandur, Adyar, Besant Nagar, Sholinganallur, T. Nagar, Pallikaranai and Jalladianpettai are touted as the preferred residential investment options, and a high appreciation rate is anticipated in the near future.

Location advantages

To be launched and newly launched residential projects in South Chennai have found a number of investors. Proximity to Old Mahabalipuram Road (OMR), Grand Southern Trunk Road (GST Road), and the upcoming corporate spaces have contributed in the growth of these localities. Other factors which have helped in scaling up the potentials of these localities have been the metro rail network, the monorail corridor and the outer ring road, enhancing connectivity from these locations to the corporate hubs of Chennai.

Launch of new properties

South Chennai hosts mostly the premium homes and has garnered attention form the end users as well as the investors, considering the high ROI. You can see a number of new project being launched under the branding of reputed property developers. These projects include both residential townships and commercial complexes, which offer facilities and amenities that were previously not available in Chennai. Here I discuss two such residential projects which have stirred the residential segment of the above mentioned South Chennai localities. Take a look.

DAC Elite

DAC Elite offers a gated community lifestyle with excellent security specifications. Located in Pammal, South Chennai, DAC Elite is the project by DAC Promoters which offers cozy 2 BHK apartments. The project is a low density one and 8 ultramodern residences. The project has one residential tower with 3 floors. Possession is expected in 2018. Properties are available in the price bracket of Rs. 28.80 - 35.77 Lac and available size range is 640 – 795 Sq. Ft.

Indiabulls Greens

Citied strategically at Jalladianpettai, Indiabulls Greens offers thoughtfully designed homes. The project brings in 1600 residential units which are available in the 1 - 4 BHK configurations. Total area range of these properties is 647 - 2450 Sq. Ft. and the available price bracket of these properties is Rs. 57 – 87 Lac. The project has 11 residential towers, each with 19 floors. The project sprawls over 15 acres of lush green spaces of South Chennai.

Experts speak

Om Ahuja, CEO, Residential Services, Jones Lang LaSalle has to say about the launch of new premium properties that the three key growth drivers have been the corporate world, automobile industry and education sector, which have driven job creation in Chennai. These have been the most important reasons behind growing cosmopolitan culture in Chennai. With this the premium luxury segment has kicked off and Chennai has overcome the 'traditional' tag.

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Created on Nov 16th 2017 04:39. Viewed 448 times.

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