An Upcoming Real Estate Hub Chennai’s
Urapakkam
Chennai has emerged as an investor friendly real estate hotspot.
The city that witnessed a rise of 350% month-on-month in new launches in
September according to PropTiger DataLabs report, has opened up avenues for
people to buy property here. While the city has it's own set of established
real estate hubs, but, the upcoming hubs in the suburbs are taking the
limelight now. On such upcoming real estate destination is Urapakkam.
In the last 43 months, the locality witnessed an increase of 7.3%.
In January 2016, the prices were Rs 3,892 per square feet. This rose to Rs.
3,994 per square feet in October 2016.
PropGuide lists the factors
that make Urapakkam, Chennai an upcoming residential market.
Urapakkam as an upcoming commercial hub
Urapakkam is in proximity to various IT hubs in Chennai.
Some of the business centres in and around Urapakkam are L&T Estancia
Special Economic Zone (SEZ), Krisp IT Park, Sriram Gateway SEZ and Madras
Export Processing Zone (MEPZ). Moreover, it also has Mahindra World City that
houses companies such as Infosys, Wipro and BMW.
This attracts a large number
of working population to this neighbourhood, thus, creating more demand
for apartments and plots in Urapakkam.
Excellent connectivity
Urapakkam’s liveability score is 7.1 on the scale 10. It
lies in proximity to National Highway 45 linking it to Tambaram, Medavakkam,
Oragadam, OMR, Mahindra City, Sriperumbudur. Some of the other thoroughfares
are Oragadam- Road and Outer Ring Road which links the locality to various
parts of Urapakkam. The connectivity will be boosted by upcoming rail
overbridge and the Phase-I of proposed Monorail Corridor.
The
Chennai railway station and the International airport is located at a
distance of four kilometres and 17 kilometres. Along with good
connectivity, the locality houses schools, hospitals, malls and other
recreation facilities.
Real estate in Urapakkam
Urapakkam is in proximity to IT companies, has smooth connectivity
and will soon witness infrastructure upgrades. Some of the known developers in
the locality are SK Constructions, Sidharth, Malles, Alameen Developers, Antony
Associates etc. Sidharth, Arka Homes Thulasi, Malles Aatmika, SK
Constructions Sri Satya Narayanan Apartment, Jeayam Shelters
Supreme, Antony Associates Mon Reve etc.
The unit size of apartments
in Urapakkam varies from 386 squar feet to 1,730 per square feet. At present,
there are about 75 projects in Urapakkam .
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