Chengalpattu's Growth Story Is Similar To Gurugram's
Chengalpattu is located at a distance of around 50 kilometres from South Chennai. The suburb is based along the National Highway 45. It is an upcoming hub in Chennai attracting the attention of investors and buyers. The growth of the suburb was unplanned. The rural pockets around Chengalpattu witnessed growth owing to the local demand for housing at affordable rates. The authorities took the cue and came up with measures to plan the growth story of Chengalpattu. As of now, it is one of the popular satellite hubs of Chennai. Gurugram, formerly known as Gurgaon, witnessed immense real estate activity in the last decade. In the same way, Chengalpattu could very well be the Gurugram of Chennai.
PropGuide lists the factors that make Chengalpattu an upcoming residential hub.
Infrastructural Developments
The upcoming airport-Chengalpattu elevated corridor project will create a great impact on the real estate market of the nearby localities. Moreover, there is an upcoming prime line linking Chengalpattu and Arakkonam stations. The Railway Board has approved Rs 300 crore for the line linking from Tambaram to Chengalpattu. This is great news for the commuters. Also, the availability of rail connectivity between Walajabad to Chengalpattu further stimulates the demand for apartments in Chengalpattu. Furthermore, the international airport is 43.7 kilometres via the Grand Trunk Road from this locality.
Affordable Rates
The affordability factor is the prime reason for the increasing demand for apartments inChengalpattu. The area is cheaper as compared to other localities of Chennai. The average price of an apartment in Chengalpattu is Rs 3,700 per sq ft. Moreover, the suburb has a well-developed neighbourhood and is surrounded by localities such as Paranur, JCK Nagar, Abakkam, Singaperumal Koil and Nenmeli. The total number of projects in the suburb are 74. The property prices in Chengalpattu witnessed an increase of 14 per cent in the past 45 months.
Settling of Companies in Chengalpattu
Chengalpattu is attracting companies as the rates here are quite affordable. Some of the companies such as Tech Mahindra, Wipro, BMW, Nissan-Renault, Ford, TVS, Siemens, Flextronics, Foxconn, Infosys, Pepsi, Samsung, Dell, Apollo Tyres and Mahindra R & D have their production plants near Chengalpattu. This creates demand for the for apartments in Chengalpattu.
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