Factors That Make Chennai's Urapakkam An Upcoming Real Estate Hub
Chennai has emerged as an investor friendly real estate hotspot. The city that witnessed a rise of 350 per cent 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 per cent. 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 sq ft to 1,730 per sq ft. At present, there are 74 projects in Urapakkam.