Old Mahabalipuram Road

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Average Buy Price 4,700 /sq ft Properties for Sale
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About Old Mahabalipuram Road

 

The 50km stretch that extends from Madhya Kailash temple situated in Adyar right up to the south of Mamallapuram in Kanchipuram district is known as Old Mahabalipuram Road (OMR) or State Highway 49 A (SH-49A). The road strategically merges with East Coast Road (ECR) and yields the most convenient method of commuting between the southern peripheral localities in Chennai such as Thiruvanmiyur, Palavakkam, and Neelankarai.

 

The development of this road led to the emergence of IT/ITeS companies such as Satyam Computer Services, HCL Technologies, Accenture India, and Infosys in the area, giving OMR the IT Corridor title. The road harbours multiple micro markets such as Taramani, Perungudi, Thoraipakkam, Karapakkam, and Sholinganallur, generating a prominent real estate market with escalating demand for commercial and residential properties.

 

The locality consists of resourceful social infrastructure developments. Noteworthy educational institutions situated along this stretch include Sishya OMR School, American International School, Abacus Montessori School, MNM Jain Engineering College, Dhanraj Baid Jain College, and St Josephs College of Engineering. Multi-specialty hospitals present along this highway include Apollo Hospital, Aditya Bone and Joint Clinic, Lifeline, and Global Hospital. There are also a plethora of entertainment centres, restaurants, and supermarkets to meet the varied needs of the residents.

 

The region comprises nine important stretches, namely Madhya Kailash, Taramani, Perungudi, Thoraipakkam, Sholinganallur, Navalur, Padur, Kelambakkam, and Thaiyur. While the first phase of the development project of OMR was completed in 2008, the second phase is ongoing and will run from Siruseri to Poonjeri.

 

Key Projects in Old Mahabalipuram Road : 

Yuga Alta Vida
Emami Tejomaya
Olympia Opaline Sequel
Pacifica Aurum
DLF Garden City
Bollineni Hillside Phase II
L&T Eden Park
PBEL City
Pacifica Aurum Villas
Radiance Mandarin
Villa Zen
The Commune
Green Peace Panorama Park
The Address
Adroit District S

 

Connectivity and Transit Points

 

OMR, also known as ‘Rajiv Gandhi IT Expressway’, plays a pivotal role in linking the multiple localities situated by the banks of this stretch. It also offers excellent road connectivity to destinations such as Mamallapuram, situated outside the city limits. Subdivided into segments, the road has tracts of development pending that will further improve this road network. This road also facilitates travel from Thoraipakkam to Pallavaram via Thoraipakkam-Pallavaram Radial Road. Vandalur and Kelambakkam can be reached from here via Vandalur-Kelambakkam Road. Other link roads of this stretch include Maraimalai Adigal Bridge-Irumbuliyur Road and Medavakkam-Karapakkam Road.

 

Guindy Railway Station, situated 14km from here, facilitates local rail travel to various parts of the city. Chennai’s main railway station, Chennai Central Railway Station, is situated 20km from OMR, and can be reached via Rajiv Gandhi IT Expressway. Chennai International Airport, located on GST Road is at a distance of 14km from OMR, which takes around half an hour to reach via Inner Ring Road.

 

More common methods of transportation such as autos and buses are easily available on this stretch. Autos come in handy for short-distance travel, and several bus stops are located in all the critical areas such as outside IT parks and colleges to travel to other important areas of Chennai.

 

Major Landmarks

 

●       Cognizant Technology Solutions Ltd

●       ASV Chandliya Towers

●       ASV Suntech Park

●       Coconut Grove

●       Sishya School OMR

●       M&M Sports Village

●       TVH Park Villa

●       YMCA Grounds

●       Ascendas IT Park

 

Factors for Growth in the Past

 

OMR came into being in 2008. The number of completed and ongoing residential and commercial projects acted as a catalyst for its growth and demand. This induced a 50 per cent  hike in property prices within the past five years. The establishment of IT companies along this stretch lured many developers to set residential projects in OMR Road.

 

Since 2005, this region has succeeded in implementing a significant portion of industrial, educational, and residential activity. Improved road connectivity at OMR was a vital step in achieving a strong infrastructural base. This road network linked employees residing in Koyambedu or Vadapalani to the OMR stretch, increasing its realty appeal.

 

The years between 2001 to 2007 witnessed an immense increase in commercial ventures along this stretch. This paved the way for development of large land parcels to transform into housing ventures. This inevitably amounted to intensified property prices by the year 2008.

 

Residential and Commercial Market

 

Residential Market Trends

 

The housing market of OMR is littered with residential projects. In fact, many instances have indicated a demand over supply condition, which has ultimately given rise to an increment in property prices.

 

Maximum demand here is for multi-storey apartments, more specifically 2 BHK residences. As per the data of the last quarter of 2014, property prices have appreciated by 11.1 per cent. The current average price is Rs 4,300 per sq. ft., which has increased by Rs 450 per sq. ft. when compared to the second quarter (April-June) of 2013.

 

Commercial Market Trends

 

Commercial properties include both office spaces and vacant plots with average property rate of Rs 4,670 per sq. ft. and Rs 2,760 per sq. ft. respectively.

 

Major Challenges

 

Commuters travelling from the opposite ends of the city to reach OMR for work have complained about the irregularity of the roads. Traffic congestions, resulting pollution, dust, smoke, and potholes are the usual civic issues that plague OMR. However, there are upcoming developments that will surely help reduce the intensity of these issues.

 

Factors for Growth in the Future

 

Road enhancement projects such as road widening work between Siruseri and Mamallapuram is now in its final stages. There is also a proposal made for an elevated expressway from Taramani to Mahabalipuram. The 14km stretch of Thoraipakkam-Pallavaram is to be extended to ECR in order to connect south to west, enhancing the connectivity of the area.

 

The government also has plans of establishing Bus Rapid Transit System (BRTS) on the road to Mahabalipuram. This project will be finalised based on a study that will analyze whether lesser passenger car units and widened roads will make a difference to have exits from elevated expressways or not.

 

In 2012, the state government had allotted Rs 2,600 million for the second phase of the OMR project. The road is to be widened from a 4-lane expressway to 6 lanes. Phase-II covers a 26.8-km stretch, and two new bypasses have been planned in order to avoid overpopulating areas. This will automatically lead to an improved OMR region, with wider scope and broader potential for future real estate activities.

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