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Fast developing areas in Chennai 2022

Fast developing areas in Chennai 2022

According to Real Estate consulting firm Knight Frank India released a latest report on India Real Estate: H1 2022 (January - June 2022). The southern part of Chennai has shown major rise in properties sold in the first half of year 2022, with the number of new homes launched increased by 40% from 5,424 to 7,570. The south Chennai micro-market has been the most popular so far this year, accounting for 58% of total sales in the first half of 2022. People have continued to be drawn to the south locations along OMR and GST Road. The reason being that the demand is focused on ready-to-move-in or nearly-ready homes, according to new research. Areas like Pudupakkam, Porur, Padur, Pallikaranai and Poonamalle are considered as the one of the fast developing areas in Chennai 2022.


Chennai Real Estate Market

The annual reports have also shown the real estate market is steadily returning to normal since the pandemic. With a full recovery in 2020 in real estate market, the momentum continued in 2021 and going big in 2022. In 2022, there was a major increase in the number of NRIs invested in India, and Chennai has always been a major destination for them due to its development in infrastructure and opportunities. With major infrastructure projects planned by the government, connectivity has never been a problem. As a result, buyers are looking for options to live in an organized, holistic setup with modern amenities and green open spaces. They want places that are convenient to commercial centers and other important aspects of the city. Anyah plots by Srisha is located in well connected location like Pudupakkam which is considered as the one of the fast developing areas in Chennai 2022.

IT HUB                                                                                      

20-km stretch from Madhya Kailash to Siruseri is now buzzing with activity, the influx of techies has boosted the prolific growth of housing and retail outlets along the corridor. With an iconic location like Perungudi, the World Trade Centre has boosted the development & connectivity around it. With the government initiating plans to increase the connectivity even further by ensuring that the elevated metro line on OMR runs parallel to the proposed IT expressway. 
Plots are available in a variety of localities, including Pudupakkam, Padur and Kelambakkam. Land prices are rising in many areas due infrastructure projects planned by government in OMR. Many people are taking advantage of getting plots close to their workplace. Plus, these plots can provide returns in the near future. 

Chennai Metro Rail Corporation (CMRL) Phase 2 Project

The Chennai Metro Rail Corporation (CMRL) has floated a tender to construct a 10-km line from Sholinganallur to Siruseri Sipcot. The IT corridor line is expected to be completed within three years and will link up with the rest of the city. The 118.9km phase-2 is expected to be ready in phases by 2025. With two stretches of 20km, with one 10km line from Nehru Nagar to Sholinganallur and from from Sholinganallur to SPICOT corridor of phase-2. Phase 2 entails a total distance of 118.9 kms and a corridor that spans from Madhavaram to Siruseri SIPCOT is just 45.8 km long. The deadline for the project is 2025 and the total outlay for this phase is Rs 61,843 crore.

Anyah By Srisha

Located in OMR Pudupakkam, Premium villa plots and custom villas with wonderful amenities. With great amenities, DTCP approved and RERA approved. At Anyah we make beautiful places for you. It’s a 4.72 acres handcrafted plug and play customized villas and premium plots located in Pudupakkam OMR near Siruseri surrounded by nature and Pudupakkam lake and it’s the future of smart living. For your body to survive and thrive, it is crucial that you are fuelling it with plenty of water, clean air and proper shelter.

Anyah is a residential development which fuels all 3, with a cluster of custom built villas and plots located . Every detail is designed to make your living space as natural as possible. It’s a fast growing location which multifold your investment in a short span of time.

Concluding Remarks

Corona virus cure has made the market for homes more accessible and affordable for everyone, which has led to a continually growing trend since the beginning of Q2. Despite property taxes increasing, buyers are still interested in investing. South Chennai, which contributed almost 50 percent of the total new launches in the city, housed most new housing societies in Pudupakkam, Sholinganallur, kelambakkam and Perumbakkam. 

With so many new students beginning college and more and more people switching to a hybrid work model these few months, there's been an increase in rental vacancies. The vacancy has still yet to improve though with rental inventory still outweighing demand. Hence investing in plots or villas in OMR location could help you secure your future. With pricing going with future developments within the area, real estate in areas like OMR, ECR etc are moving towards upward trend and are considered as the fast developing areas in Chennai.

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