Investment advice in OMR

Q:
Hi I am planning to do shift to Chennai, so I would like to know Is OMR good option for investments ? Kindly tell me some good projects too.

Srinivas , Chennai

14th March 2014

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Replies (6)

Guys this is a very good locality in Chennai City. As it is just 2 Km from Siruseri It Sipcot, i.e Asia Largest IT Park which currently 50000 IT Employees . Also it is just 20 minutes-drives from Tidel Park, 10 minutes-drives from Infosys-Sholinganallur and adjacent to Chettinad Hospital, Entrance from Old Mahabalipuram Road.

Rubiya,

14th March 2014

Comment

Hey Schools such as Dr. C.L. Metha Sishya School, Parent Choice International School and EuroKids. Colleges such as SSN College of Engineering, Jeppiar College, Satyabam University, Hindustan University and KCG College of Technology is near by. Hospitals such as Chettinad Health City, Chettinad Hospital and Research Institute, Praveena Hospitals and Ragas Dental College.

Direct buses from Thiruvanmiyur and Kelambakkam to this locality. By road It can be reached through Thiruvanmiyur. The Meenambakkam airport is about 15 kilometers away from the beginning of the road at SRP Tools and Chennai central railway station is 19 kms from OMR.

Pranab Malakar,

14th March 2014

Comment

Hey guys what about the realty prices, heard that it is inching high on IT corridor in Chennai ?? Let me know some good reputed educational institutions. How is the social infrastructure and connectivity ?

Joydeep D,

14th March 2014

Comment

@Joydeep: A number of residential projects have already completed and are under various stages of implementation provide housing to thousands of ITs and students commuting every day. As land prices are soaring, housing is becoming expensive even in near by areas.

Main reason is beacuse the land prices are inching high in view of the anticipated improvement in infrastructure and improved connectivity levels and other things as well. Industry sources say that 35 companies have already very keen interest and in fact seven companies have confirmed their proposals to set up operations in the Park.

The housing demand will only go up in the years ahead and the supply level is also increasing due to coming up of more developers keen to provide varied options to homebuyers.

Gurmeet,

14th March 2014

Hey heard that OMR Phase II road widening may boost development in future. Kindly tell me details about it ?

Himani,

14th March 2014

Comment

@Himani: The second phase of the corridor from Siruseri to Mahabalipuram comprising 25 km has been taken up for road widening. This is expected to encourage both developers and end users to shift to suburbs leading to comfort of people for congestion in city areas. The presence of leading IT companies has already created 20 per cent growth in software exports in the last seven years. :)

Pranab Malakar,

14th March 2014

Hey I know some of the projects such as Anantya by Indus City, Frangipani by Arihant Foundations and Bollinoni Hillside by BSCPL Infrastructure Ltd. Both Anantya and Frangipani offer 2-3 BHKs of different sizes. New projects coming up in the locality include Swanlake by Purvankara Projects Ltd and Jeayam Samraj by Jeayam Shelters Pvt Ltd. and Alta Vida by Yuga Homes in Thaiyu.

The IT Corridor Project is being implemented in two phases i.e Phase-I between Madhya Kailash Temple Junction and Siruseri and Phase-II between Siruseri and Mahabalipuram. The 2.1 km long ECR Link Road connecting Rajiv Gandhi Salai at Sholinganallur and East Coast Road at Kudumiyandithoppu is also included in Phase-I.

In Phase-I, the 20.1 km between Madhya Kailash Temple Junction to Siruseri is being widened to dual three lane carriageway with median, service road, pedestrian footpath and planter strip. The work of dual three lane carriageway has been completed.

Pranab Malakar,

14th March 2014

Comment

Rajiv Gandhi Salai is a major road connecting Chennai with Mahabalipuram in Tamil Nadu. It is 45 km long and was earlier known as the Old Mahabalipuram Road (OMR).

Chennai's information technology corridor, which has been promoted by the state as a world-class tech destination. The increase in commercial activities has brought about lot of development on the residential front, that today it is one of the wisest destinations to do investments.

Other projects on OMR include Akshaya Developers and Shobha Developers. They are offering 1, 2 and 3 BHK units with an area of almost 600-1800 sq ft. Both the projects are currently priced around Rs 3,000 per sq ft and will be ready by 2015. OMR has seen a capital appreciation of about 50 per cent in the last 5 years. It is not just under-construction projects, even ready-to-move-in projects are also there.

Gurmeet,

14th March 2014

Comment