The new bye-pass is taking shape in fast swing and the work to be completed very soon because of which the real estate market and price growth is expected within next eighteen months time as we expect lot of IT parks, retail, hospitals and residential development in the vicinity.
The new Tambaram east bypass road is strategically connecting the busy Velachery – Tambaram road at camp road junction and GST RD at Perungalathur. This would ease easy accessibility to GST road, Vandalur – Kelambakkam road and would be big boost to the current infrastructure.
Chennai Real Estate market is majorly an end user driven market and with the positive sentiments picking up around the country, we at My property Boutique are noticing increased sales in Q4 (19-20) compared to Q4 (18-19) doing well compared to other cities in India. This particular location where the road is cutting through existing neighborhoods like Alapakkam, mappedu, Perungalathur is seeing spurt in customer enquiries for plots, apartments and villas.
These locations have gated community projects in the price ranges from Rs 3500 to Rs 4000 per sq.ft, CMDA approved plots at Rs 2000 to Rs 3000 per sq.ft based on the location. The main attraction towards the location is also the famous SSM CBSE school which has over 10,000+ students studying in the school is drawing parents to relocate to the location and also with the new bypass road it would also give them the real estate appreciation
Today, the New Perungalathur is much talked about location for investment in Chennai real estate. A Lot of Big builder s are also scouting of land in the vicinity as the first stretch connecting SSM nagar from Alapakkam to Perungalathur, GST RD will be ready by Dec 2019. This is the right time to invest in the vicinity before completion of this road project at the current prices, There is an very high anticipation of a Mini real estate boom in this micro market expected by real estate developers & financial institutions.
Added to it, With the new announcement of the inter-city bus terminal in Vandalur, which is just 2 KMs from perungalathur Junction, the residential space in the Eastern-Bypass road will also be benefited. All the regions surrounding the terminal would have the ripple effect as new bus routes will be introduced and current route frequency will also be gradually increased. Overall MTC service in surroundings will see a big boost.
Karthikeyan Kumar, Co – Founder My Property Boutique says, The Eastern Bypass Roadwork is progressing at a rapid pace. There is a huge surge in realty prices along this stretch. Any prospective investor with deep pockets should consider investing along this stretch for good returns in a short span. Unlike M-M Road this bypass will carry huge traffic and if any opportunity for buying comes up don't miss it. Here the rates are pretty decent when compared to OMR plus good ground water and this location has a close connectivity and situated on IT hub pockets connecting between GST road, ORR road, OMR and ECR Road.