Strategically located on the Old Mahabalipuram Road (OMR), a suburb in South Chennai, displays a healthy real estate development in the backdrop of myriad factors. So, what has helped this area score positive on the real estate graph?
In addition, commissioning of the second phase of widening the OMR into six lanes will further boost the property market in the area.
The wide range in Kelambakkam is between Rs. 17 lakh - 62 lakh. As for residential plots, sized between 600 - 1200 sq. ft, the price range varies from Rs. 10 - 30 lakh. The area also receives healthy demand form students of Hindustan College of Engineering, Anand Institute of Higher Technology, SSN School of Management to name a few. Thus, Kelambakkam is also in demand for rental accommodation.
A 2 BHK apartment is available in the range of Rs. 5,000 - 12, 000 per month. While a 3 BHK apartment commands anywhere between Rs. 12,000 - 20,000 per month.
Apart from these, Kelambakkam also has many under construction projects that will be ready for possession by 2015. These include projects by real estate developers such as Vishwakarma Properties, Om Sai Developers and Sobha Developers Pvt Ltd.
Connectivity:
Strategic location on the OMR is the biggest strength of Kelambakkam. The area is the junction where the East Coast Road (ECR) and the Grand South Trunk Road (GST) intersect the OMR. Proximity to the airport (5 km) adds another feather to Kelambakkam's cap.In addition, commissioning of the second phase of widening the OMR into six lanes will further boost the property market in the area.
IT Companies:
In addition to the connectivity, Kelambakkam also has location advantage of being close to the IT/ITeS companies. SIPCOT IT park is 3km from the area. People working in IT hubs prefer to stay close to their workplace in order to save on commuting expenses and travel time.Property options:
From multi-storey apartments to residential plots, Kelambakkam offers a wide variety of options to home buyers. As per data with Magicbricks, apartments of 500-1550 sq. ft in gated communities are available within Rs. 3,400 - 4000 per sq. ft. Thus, a 500 sq. ft apartment is available for Rs. 17 lakh.The wide range in Kelambakkam is between Rs. 17 lakh - 62 lakh. As for residential plots, sized between 600 - 1200 sq. ft, the price range varies from Rs. 10 - 30 lakh. The area also receives healthy demand form students of Hindustan College of Engineering, Anand Institute of Higher Technology, SSN School of Management to name a few. Thus, Kelambakkam is also in demand for rental accommodation.
A 2 BHK apartment is available in the range of Rs. 5,000 - 12, 000 per month. While a 3 BHK apartment commands anywhere between Rs. 12,000 - 20,000 per month.
Social Infrastructure:
Since many IT professionals prefer the area, Kelambakkam has all amenities required by end users. For kids, there are schools such as St Mary's Matriculation School, Government Higher Secondary School and BKM Higher Secondary School. To keep you busy over the weekend, there are shopping centers galore. Apart from this, Chennai's famous Chettinad Hospital and Research Institute also has its presence in the locality.Projects:
Many renowned developers are present in the locality to suit various segments of the population. Cosmo city, a project by the Provident Group offers apartments in the affordable segment, while Shobha and Purvankara Group cater to the need of well heeled home buyers.Apart from these, Kelambakkam also has many under construction projects that will be ready for possession by 2015. These include projects by real estate developers such as Vishwakarma Properties, Om Sai Developers and Sobha Developers Pvt Ltd.