Speculation on Property in Chennai: Location: East Coast Road (ECR)
ECR or East Coast Road at the moment is one of the top places to buy properties in Chennai. ECR is formed by integrating a series of small village roads that connected the fishing villages along the east coast. The proximity of ECR to OMR the software hub of India is an added advantage to the investment potential from being primarily an entertainment corridor, ECR is seeing several projects in the space of residential realty, making it the biggest destination for luxury apartments in Chennai.
The East Coast Road (ECR), known as Chennai’s entertainment and leisure corridor, has evolved into one of the most sought-after residential localities of late. From being a weekend getaway destination in the previous decade to evolving into a major residential real estate corridor, ECR has seen a slow but steady transformation over the years.
Today, with IT industry booming, the profile of the ECR realty is changing. Many professionals working on the IT corridor are now willing to reside here and commute to the OMR using the link road. After the amendments done to the Coastal Regulatory Zone (CRZ) guidelines, many realtors are gearing up to bring out more projects along this stretch. All this has resulted in the luxury landscape of realty shifting heavily in favour of the place.
ECR has turned into a residential stretch in the space of luxury apartments and grand villa projects in Chennai. The area enjoys an uninterrupted supply of electricity and water, which has helped developers in wooing prospective home buyers. Many housing communities and weekend homes have come up here. It has gained popularity as a high-end locality over the years. Many developers have completed residential projects and some have plans to construct up-market residential buildings. Currently, luxury villas and residential plots are the mainstay in ECR.
Here below are a few factors which has helped ECR in gaining a lot of attention
ECR which otherwise is popularly known as State Highway 49 and is believed to be the most scenic coastal highway. ECR is connected to the southern Highway through’ Pondicherry. The idea was to create infrastructure, facilitate inter-state connectivity and boost tourist movement. This proved successful as the small villages from Thiruvanmiyur till Mahabalipuram are developed as preferred places for real estate investments.
Easy Access to OMR:
OMR also known as the IT corridor is in a close proximity to ECR. Both OMR and ECR are connected well. Considering that OMR houses most of the cities software industries and keeping in mind that many Chennai people work in those, Investing in a property at ECR will certainly reduce a lot of stress in the commutation front. The 4 lane highway reduces the traffic congestion and makes travelling easy. The closeness of OMR also plays a vital role in the contribution of property appreciation.
Serene and Scenic:
Most of the metropolitan cites suffer from a lot of pollution and it has a great impact on the health causing unwanted complications. The infrastructure and development goes hand in hand with the Scenic beauty of the place. Lush greenery as well as the necessary amount of urbanization maintains a balance. The sea along the road also provides a beautiful cross breeze making the atmosphere pollution free. The beach along the coast will act as the most perfect location for a jog or even some physical exercises.
ECR hosts several places of interests like amusement parks, water sports, farm houses and a plethora of fun things to do. Since ECR is on the coastline, there are a lot of water sport activities like surfing, parasailing, sailing, scuba diving and swimming which have gotten quite popular in the recent past. Few hours of drive, you could probably head down to Mahabalipuram or even Puducherry for a weekend get-away.
Like any other place in the city, there is no dearth for amenities in ECR. The grocery shops, shopping complexes, medical facilities, and educational institutions and makes the place worth of a comfortable living.
Over a decade back, the East Coast Road development was limited and active development was visible only within a radius of 10 to 12 km after Thiruvanmiyur, till around Uthandi. Beachside luxury villas existed even then but the kind of development that we witness today has definitely not been thought of. Today, it is possible to witness development just 6 km near Mahabalipuram, which would be a good 35 km from Thiruvanmiyur. Now, ECR has become a much sought after place for residents and any product on this corridor is perceived as upmarket as the midmarket developments on offer don’t seemingly appear on this corridor.
Prominent localities such as Neelankarai, Kanathur, Injambakkam, Thiruvanmiyur, Palavakkam and Uthandi are preferred locations on the ECR. Any stretch between Palavakkam to Mahabalipuram is considered to be a good investment. However, it depends on a buyer’s personal objectives. ECR isn’t just a place to invest for price appreciation; it’s a place where people invest for quality lifestyle as well. This makes ECR a good bet for both end users and investors.
ECR is in demand for residential projects. Since the cost has been high, many people did not prefer this zone. Now, with more apartments and villas coming up, property has become affordability thus propelling the demand. With land parcels being scare within the city, developments along the ECR offer greater opportunities for both buyers and developers.
ECR is currently is trending high when it comes to a property investment. ECR is constantly developing and down the line it probably will be one of the most sought after places. Several real estate developers in Chennai have proposed various projects. The Equal balance between the nature and urbanization is what that makes ECR so special. From basic needs to anything fancy, you’ve got it all. A beautiful luxury villa or a luxury apartment in Chennai alongside the East coast road is bound to change your lifestyle for a better future.