CHENNAI RECORDS RISE IN DEMAND FOR PLOTS IN H1 2020

About 26% of users showed interest in plotted developments in Chennai in H1 2020 as against 18% during the same period in 2019, revealed RoofandFloor research. Thanks to branded players entering the segment. Unlike earlier, when smaller developers usually launched plot projects, today many leading developers have ventured into the segment. This has instilled confidence in many investors. Not to mention, the land is an appreciating asset. Top 3 micro-markets: Based on user interest, let's look at the top three micro-markets for plotted developments in Chennai. Chengalpattu Once a significant trading and commercial hub that had silk weaving, tanneries, and cotton factories, Chengalpattu maintains its industrial tradition, having transformed into an epicenter for IT, automotive, and manufacturing. Chennai airport is only an hour's drive away and the railway terminal at Chengalpattu is connected to all the prime areas of Chennai. Further, with the proposal for a new bus terminal at Kilambakkam, a second airport nearby, and a new Chengalpattu-Airport expressway on the anvil Chengalpattu's prospects as a property investment destination look promising. Located 23km from Chennai, Avadi is one of the oldest areas in the city and was mostly known for being home to various defense establishments and manufacturing units. Today, Avadi has expanded to encompass the booming IT industry, a process that is changing its landscape. With its robust social infrastructure that includes well-known educational and healthcare institutions, a plethora of employment opportunities, and proximity to well-developed areas, Avadi is an attractive residential area for young professionals with small families. More so, because Avadi still continues to be an affordable property destination. Guduvanchery Guduvanchery is located right on NH-45, making it one of the most sought-after residential areas in Chennai today. It boasts of fast connectivity to the rest of the city via the Vandalur-Kelambakkam Road that connects it to the Old Mahabalipuram Road (OMR). While it has its own railway station with local trains running every hour, frequent local buses also serve the area. The micro-market also scores high on natural beauty with several lakes and parks like Nandivaram lake and Potheri park nearby. Employment options in the vicinity are aplenty with Accenture, Ford, and Mahindra World City among others which can be accessed via OMR. Guduvanchery also boasts of a robust social infrastructure with ample educational institutions and healthcare facilities.

Publisher Name: The Hindu