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17 Apr 2024, Edition - 3200, Wednesday

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Economic Resurgence Powers Rising Demand for Rental Homes for Expats, Managerial Cadres

by businesswireindia.com

Business Wire India
Industrial developments are the driver of economic growth in form of employment, creating demand for homes to house work forces deployed. The Oragadam-Sriperumbudur industrial corridor leverages the strengths of an automobile hub, IT and ITeS as also manufacturing facilities for MNC and leading Indian companies.
Over the years, there have been business growth stories, for a change, there is a ‘re-start of operations’ story – one which has the potential to certainly impact demand for homes in the region.
Nokia India handsets were assembled at Foxconn Technologies’ facility in Sriperumbudur earlier. This year, Foxconn Technologies facility is back to operations with an additional work to assemble the ‘iPhoneX’ in India. This will be supported through an investment of Rs. 25 billion to expand its plant in Sriperumbudur, adding assembly lines for the Apple products, which will cumulatively, potentially create around 25,000 jobs.
The multiplier impact will be reflected in new employment generation along with infusion of some fresh investment in the economic hub location of Oragadam-Sriperumbudur corridor. The ‘spillover effect’ will be on rental housing, with demand for the same growing. This will work across segments, with demand for homes going up as the new growth will create jobs for additional workforce at the level of managerial/ expatriates.
In this scenario of rising demand for homes, among the projects that offer residential options is at Hiranandani Parks in Oragadam. Centrally located, this self-sustaining, master planned community offers holistic living option to suit all requirements of its citizen. Investors have opted to rent out their apartments, and in turn, this works out into a win-win for rental house seekers.
The vibrant township of Hiranandani Parks offers practically everything that ticks the list of requirements of work force habitant. This segment of home seekers can look forward to a township living experience which offers manicured open green spaces, tree-lined avenues, wide paved roads, environment-friendly civic amenities, plethora of sports and other recreational activities and social facilities to sum up the daily living needs, making the living at the project different from the typical urban lifestyle.
Hiranandani Parks, Oragadam makes it an ideal choice due to its centrally positioned between Grand Southern Trunk Road and NH 4. The township also enjoys good connectivity via road & rail route is 9 kms from Singaperuma Koil railway station and a 30-minute drive from Chennai International Airport.
As Foxconn Technologies revamps and expands its manufacturing capacity, it reflects positive cascading effect on Oragadam-Sriperumbudur region. Hiranandani Parks, Oragadam offers best suitable community living lifestyle to the new who move to this region.
Source: Businesswire