Kolathur realty update – August 2013
Overview:
The district of Kolathur is situated towards the North of Chennai city. This well developed region offers all the facilities appropriate for an all round development to its residents. Perambur, Vajjiravel Nagar, Vinayagapuram, Puzhal, Villivakkam, Jawahar Nagar, Korattur, Thiru-vi-ka Nagar, Periyar Nagar and Sakthivel Nagar are the nearby neighbourhoods.
Connectivity:
The Grand Northern Trunk Road (NH 5) and the Inner Ring Road pass through Kolathur, making it one of the best-connected locality’s within Chennai.
The Chennai International Airport is at a distance of around 22 kilometers from Kolathur via the Jawaharlal Nehru Road.
The locality is approximately eleven kilometers away from Chennai Central Railway Station and ten kilometers from Egmore Railway Station via New Avadi Road and Poonamallee High Road.
Public Transport:
The neighborhoods rail transportation is majorly catered by the Villivakkam railway station along with Perambur Loco Works.
Kolathur is yet to be bestowed with a bus deport. However, presently there are Bus stands at Kumaran Nagar, Vinayakapuram, Srinivasa Nagar and Phoompukar Nagar.
Social Infrastructure:
Vivekanda Vidhalaya, Everwin Matric. Hr. Secondary School, Don Bosco Srinivasa Nagar and Don Bosco Matric. Hr. Secondary School, Peravallur are the prominent educational facilities that cater to locality.
Ninty9 Theme restaurant, Paramakudi Restaurant, Ajantha Bakery, SRM Grands Hotel, Cake Point, IBACO, Parfait 3 Bakery and Fingers Restaurant, Mcrennet bakery, Ganga Sweets, Naachiyar Restaurant, Domino’s, Jayam Electronics, Neilgris Supermarket, Yennis Saloon, Mega Mart, More, Reliance Super are some of the prominent commercial spaces located within the locality.
Some of the prominent landmarks include Anna Silai (Ambedkar Statue), DRJ Hospital, Rettai Eri, Ganga Theater, Ninty9 Theme restaurant, Reliance Super Market, Mookambika Theater and RC Prince Gardenia apartment.
Real Estate:
Almost fifty per cent of the demand within Korattur is for affordable apartment projects having 1, 2 and 3 BHK units. However, the bulk of the demand is within commercial properties as well as layouts and plots. People mostly buy apartments in the range of Rs 30 lakh to Rs 50 lakh and mostly settle down in flats ranging from 750 to 1,200 square feet.
Although geographically Perambur is a low-lying area, after the connectivity and accessibility of the area significantly improved, this in turn prompted builders to take efforts in constructing buildings with sufficient clearance from the ground.
Pushkar, GR Natarajan, Landmark, Marvel, GreenPeace, Firm Foundations and India Builders are each coming up with their respective mega projects.
Price Trends:
The price band per square feet in Kolathur ranges from Rs 4,000 to Rs 5,200. Considering that Kolathur had seen tremendous growth towards Jawaharlal Nehru inner ring road, land is still available at affordable rates within these areas. Current capital values within the area had appreciated by over twenty to thirty per cent within the last two years.
Future Prospect:
The locality of Kolathur has turned out to be a favorite destination in north Chennai among home buyers. Citing close proximity to Anna Nagar and Chennai bypass road, the completion of Perambur flyover and Perambur Locoworks road over bridge had improved access to the locality. As it is well connected by road and rail Kolathur has witnessed exponential growth in length, as per locals it has reached Surapet situated near Redhills. There are numerous schools within the area, which serves as an added advantage to property seekers.
North Chennai has always possessed a traditional set of buyers who unlike the buyers from west and south of Chennai, are residents of north Chennai itself. The area enjoys good demand due its proximity to important centers of the city and beyond. The price appreciation of this locality in the future might be very good.
