Kelambakkam Realty Update July 2013

Chennai: The locality of Kelambakkam is a expeditiously growing suburb of Chennai city. The area is one among the 163 notified areas (megalithic sites) located within the state of Tamil Nadu. The suburb of Kelambakkam located along the Old Mahabalipuran Road (OMR) in South Chennai, has gradually rooted itself within the residential segment of the city’s real estate sector. The area is home to a population of around 20000 families. The suburb has also been witnessing high activity pertaining to real estate and the demand for residential space has also been on the rise.

The locality has been in high demand with investments in the area turning profits due to its close proximity to IT parks and software companies as it is located on the Old Mamallapuram Road which is also known as the IT corridor of Chennai. The office workers working at these IT parks and software companies which are situated in and around the locality feed the residential segment of Kelambakkam’s real estate market.

Among the residential areas located within Kelambakkam the most prominent is Sathankuppam. Many other nagars such as Anna Nagar, Jothy Nagar Welfare Land, Jothy Nagar, Kanaga Parameshwaran Nagar, Ajith nagar, Balaji Nagar, Mogambigai Nagar, Ganapathi nagar, Susheela Nagar, Krishna nagar, Lakshmi Avenue, VIP Nagar, Sri nagar and Sri Sai Vighar have been established here.

Connectivity:

This suburb is well connected with roads. One of Asia’s largest IT Parks the SIPCOT IT Park, is situated along the OMR which is at a distance of just 3 kilometers from the area. Kelambakkam is the second junction where the Grand South Trunk (GST) and East Coast Road (ECR) intersect at the OMR, Sholinganallur being the first junction.

The locality lies in close proximity to Chennai International Airport which is a drive of approximately forty minutes.

Chennai Central Station located at Park Town is a good one hour drive from the locality.

The suburbs of Madipakkam, Selaiyur, Sholinganallur, Thiruporur and Velachery lie adjacent to Kelambakkam.

Social Infrastructure:

Some notable schools located within this suburb are B.K.M Higher Secondary School, Government Higher Secondary School and St. Marys Matriculation School. There are some good colleges situated within this suburb. Notable are Chennai Mathematical Institute, Anand Institute of Higher Technology, Hindustan College of Engineering, Sri Sivasubramaniya Nadar College of Engineering, etc.

Numerous shops retailing all kinds of goods and services are available within this suburb. There are numerous national banks such as SBI, ICICI and Union Bank of India which cater to the growing population of this suburb. Specialist grocery shops such as Food World and Spencer’s are also situated here. KVR Shoppe is the most prominent mall. Kelambakkam possesses a fish market.

Chettinad Health City is one of the most important health centers located in the area. Tourist attractions include the old church for St. Mary at Kovalam, Kovalam beach, Tiruporur Murugan Temple and Thiruvidanthai Nithya Kalyana Perumal temple. Off-road enthusiasts from Chennai frequent the Kelambakkam quarry trail.

Restaurants specializing in South Indian cuisine such as Madurai Muniyandi Vilas and Olive Beach Garden are situated here. There are few upmarket restaurants within this suburb ranging from Chinese, Continental and Indian. There are various fast food joints too. The community halls positioned at this locality are popular for weddings as well as parties.

Public Transport:

The locality of Kelambakkam has its own bus terminus as it an important junction connecting the ECR and the GST; from Kovalam to Vandaloor Zoo. It also connects Adyar to Mamallapuram. The locations that are connected from Kelambakkam include Adyar, Chengalpattu, Thiruporur, Tambaram, Mamallapuram, Vandalur Zoo, Thirukalikundram and Tidel Park. Kelambakkam is a popular market for the adjoining villages of Pudupakkam and Velichai.

There are about four to five bus routes from Tambaram-West bus stop to Kandigai. Bus frequency is comparably decent but to reach other parts of city one has to hop buses from Tambaram. Bus services on VK road have been plying since the early 1980s, it connects to Vandalur.

Realty Trend:

The stretch from Kelambakkam to Padur is lined with projects ranging in the price-band of Rs 3,000 per square feet to Rs 4,000 per square feet. Ready-to-occupy inventory in expected to witness a gradual off-take in the coming quarters. Kelambakkam has seen prominent builders launching their mid-segment products during the past few months. These products have received a good response, due to the positioning of the product below Rs 50 lac per unit. The locality is expected to witness the launch of larger residential developments in the coming months. This micro market is expected to witness a good off-take in the short-term, while sales volumes and prices are expected to stabilize over a medium-term of 6 months to 1 year.

Owing to the increasing demand for housing from the large IT population along the OMR stretch the locality has been developing into a residential location. The stretch from Kelambakkam to GST has largely contributed to the locality’s real estate prospects. Today, Kelambakkam is better known than the popular neighbouring locality of Thiruporur.

Kelambakkam has a high floating population consisting of students of Anand Institute of Higher Technology, Hindustan College of Engineering, Sri Sivasubramaniya Nadar College of Engineering, Shree Motilal Kanhaiyalal Fomra Institute of Technology(SMK FIT), SSN School of Management and computer application, Aarupadai Veedu Institute of Technology(AVIT) and other colleges. Chettinad University also allures students from India as well as other parts of Asia.

There are numerous renowned developers present within the locality. Isha Developers, Unitech Group, Shobha Developers, Vasavi Construction and Developers, Vijay Shanti Developers, Puravankara Group and Provident Group to name a few. These developers have targeted different segments of the customer base thereby offering housing options for different income groups.

While Provident Group’s Cosmo City is a project offering apartments within the affordable segment, Isha and Shobha Developers along with Puravankara Group have targeted the high end buyers with their luxury projects named Isha Mia, Shobha Meritta and Swan Lake, respectively. These projects range between Rs 30 lakh to Rs 1 crore and above per unit.