Sukriti Yaduwanshi

The city’s housing sector has evolved and moved from independent houses and apartments to gated communities and integrated townships.

“I have a budget of Rs 80 lakh and want to buy an apartment in a township project, where should I invest – Old Mahabalipuram Road (OMR) or Anna Nagar?” asks K Jayant on the Magicbricks real estate forum.

Township living is community living within a larger, better-utilised land area, having amenities and facilities that make it self-contained or self-sufficient. An integrated township project comprises of residential plots, row houses, villas as well as low-rise and high-rise apartments. Chennai is rising in terms of demand for the township projects. The city’s housing sector has evolved and moved from independent houses and apartments to gated communities and integrated townships. In fact, township living has become a very desirable concept in Chennai today.

Localities with township projects

Sriperumbadur:

Located on the South-West part of Chennai, the area serves as a suburb. Well-equipped with social infrastructure and various renowned companies, the locality has been in demand for residential plots. The vacancy of land here has opened up options of township projects for the developers. The locality has an added advantage of the upcoming Bengaluru-Chennai Expressway project, which is one of the biggest growth drivers for home-buyers. It is an established area with leading brands like BMW, Dell, Hindustan Motors and Ford, among others so, the consumers are also from the same market segment.

Perambur:

Situated in the northern part of Chennai, Perambur has emerged as a prime locality for home buyers with advancing social infrastructure within proximity. “Perambur is a well-known area of Chennai. It is an excellent place to live with all basic facilities like schools, colleges and hospitals nearby. Road connectivity is also good at this location,” says Krishnan, a local resident. Served by three railway stations – Perambur, Perambur Carriage Works and Perambur Loco Works – it is also one of the earliest British settlements in Chennai. Some of the major connecting roads and streets include Paper Mills Road, Perambur Main Road, Perambur High Road and Madhavaram High Road.

The graph below shows rise in the property valuse in 2014-2015 across Sriperumbadur, Perambur, OMR and Anna Nagar.

Old Mahabalipuram Road:

Popularly known to be the IT corridor of Chennai, the OMR is the place for techies to reside. Homebuyers consider the locality due to its strategic location and social infrastructure. Big IT brands like HCL Technologies, Tata Consultancy Services, Bahwan, CyberTek Group, Accenture India, TECCI Park, Wipro Technologies and great connectivity offered by the Metropolitan Transport Corporation makes it a prime location for the consumers.

Anna Nagar:

Anna Nagar was the first locality to have township projects across Chennai. Considered one of the prime residential localities, the area is well established with renowned schools, malls, markets and institutes. The western style built road makes the locality completely advanced.

Let us have a look at the property details of the areas:

All the above localities offer a wide variety of property configuration like apartments, residential houses, villas and residential plots. There are over 300 existing properties and approximately 7 new projects in Sriperambadur. In Perambur, there are around 50 existing projects and 3 upcoming new projects. In OMR the locality offers over 50 new projects with about 1000 existing projects. Anna Nagar offers around 6 new projects. There are about 200 existing projects in the locality.

Therefore, Chennai homebuyers may go with the trend, having a wide range of properties available in their preferred locality.