Speculation on Property in Chennai: Location Tambaram
In the past few years, there has been a marked change in people’s perceptions about places to invest in a residential property or an apartment in Chennai. The main reasons for that have been the high prices in the older residential areas and the improved connectivity, or at least the promise of it, too far flung suburbs. Old timers recount the days when the city’s student went to study in Madras Christian College in Tambaram or were in the Indian Air Force. These were only two categories of people who went to Tambaram. But times have changed.
Today, Tambaram has well established industrial enterprises nearby and affords quick road connectivity to the neighbouring areas and to the rest of Chennai. Besides, the fully functional flyover that connects Mudichur road and GST road to Velachery main road has been a boon for travellers and has considerably reduced travel time. Tambaram is about 27 kms away from the heart of Chennai and is easily accessible through bus, rail and the road. The MTC (Metropolitan Transport Corporation) buses are frequent to various parts of the city.
Tambaram is a much sought after location with a number of housing options. The game changer has been the Information Technology (IT) industry as well as the large manufacturing base that Chennai has been home to for the past two decades; these two sectors have been attracting a large number of young professionals to Chennai for jobs. These people prefer stay closer to the work spot rather than commute long distances to work.
Underlining the fact that Tambaram is one of the top ten preferred locations to buy an apartment in Chennai, the area has been in the news recently for all of the right reasons. With many well established industrial enterprises and effective road connectivity, Tambaram is strategically positioned on the GST Road (Grand Southern Trunk) and serves as a midway to the IT and SEZ corridors.
Furthermore, as is already well known, the GST road is regarded as one of the busiest National Highways connecting Chennai to Trichy besides linking the Chennai International Airport with Tambaram. All the important places in Chennai are linked via the GST road and its strategic significance is further enhanced by way of being a part of the Golden Quadrilateral National Highway Project.
Tambaram: An advantage:
Tambaram is divided into Tambaram East and West by the railway station, stands to be the biggest beneficiary of all this development and much of its success is due to its strategic location. What’s more, the Chennai International airport is located at Meenambakkam on GST Road directly connecting to Tambaram. By virtue of being located on the GST Road, it can be said that Tambaram has reaped a huge windfall for real estate investors.
The GST road connects to other parts of India via the NH-4 (National Highway 4) thereby linking Mumbai, Pune and Bangalore in the West. Furthermore, the NH-5 joins East in Bhubaneshwar and the GST Road connects Chennai with Trichy and with the NH-205 finally terminating to Andhra Pradesh, one can begin to appreciate the impact of the GST road on Tambaram real estate prices.
One of the first things that most people look for, when they buy a new house is connectivity. They check to see if there is public transport, taxi service and distance to railway station and airport. On all these counts, Tambaram comes out as the best. The overall extended connectivity has led to increased residential prices in Tambaram East as well as Tambaram West. The raised guideline values along the GST road have further augmented the value of the properties here. Both, Tambaram East and West are densely populated and enjoy superb connectivity via the rail and road network.
Keeping in view the increased population, boost for tourism and the requirement for convenient access to recreational spots in Tambaram the Southern railway augmented the suburban train services to Kanchipuram by extending four EMU services on the Chennai Beach-Tambaram-Chengalpattu section.
A place filled with Amenities:
One can find many renowned schools, colleges, hospitals and a well-equipped civic and social infrastructure here. Restaurants, banks and shopping centres have mushroomed everywhere and there are over 10 super markets, 11 colleges and 15 hospitals in the vicinity. Besides, the presence of police stations, fire stations and the Air Force Station of the Indian Air Force have given the reassurance of a comfortable life to many families residing here.
The six lane highway and the upcoming two-way tracks projected between Chengalpattu and Tindivanam will connect Tambaram to other important towns of Tamil Nadu and there is an upbeat optimism that there will be a further spurt in real estate prices.
With property prices going northwards, the trends in Tambaram have been very positive. In fact, Tambaram has seen an incremental real estate appreciation nearly as high as 37 per cent in the last one year and 22 per cent in the last two years. It is thought that Tambaram mostly has apartments that cover about 60% of the over-all residential occupancy. These kinds of homes are mostly preferred by middle class people, and people who have a bigger budget prefer luxury apartments and luxury villas in Chennai.
Tambaram has been the best:
However there is a difference in the property prices between West and East Tambaram and it can be found that East Tambaram usually commands a higher price value as compared to the West. When it comes on commencing a new project, most of the builders in Chennai prefer Tambaram as their major spot, as the locality always makes a business venture more profitable. This can probably be attributed to the lush greenery and overall serenity versus the commercial hustle bustle of West Tambaram.