Project Watch: Rithika Avenue, Chennai

Rithika Avenue in Guduvanchery, is a low-cost residential projects in Chennai area, launched by Rithika Realtors recently. The developer is offering plots in Chennai at very low prices.

The product

Rithika Avenue offers 25 units for sale with varying plot sizes of 800 sq.ft., 1,200 sq.ft., 1,251 sq.ft., 2,039 sq.ft., 2,324 sq. ft. , 4,723 sq. ft., and 4,751 sq. ft. 

It is useful to compare Rithika Avenue with Rithika Enclave and Sri Balaji Avenue -- the three projects being from the same builder. Rithika Enclave offers 10 different plot sizes in the range of 740-2,485 sq.ft., Sri Balaji Avenue offers 11 different plot sizes in the range of 509-1,807 sq.ft. whereas Rithika Avenue offers four different plot sizes in the range of 800-4,751 sq.ft.

Amenities

A few amenities offered in the complex are:

• 24x7 security
• Power backup
• Free maintenance for three years

   

  The builder

  Rithika Realtors Private Limited was established in 2013. It primarily develops residential projects in Chennai, and is also into leasing. It is steadily gaining market as it offers plots in Chennai at affordable rates. In a short span of time, the developer has been successful in building affordable flats in Chennai.

  Location

  The plots in Chennai are located in Kavanur in Guduvanchery suburb, Chennai.  Some of the neighborhood areas are Potheri, Nelikuppam,Thailavaram , etc. It lies between Tambaram and Chengalpattu on GST.
  
  Locational advantages

  The site is near the Potheri Railway Station and Guduvanchery Railway Station.

• Metropolitan Transport Corporation of Chennai provides bus service to other parts of the city.
• The site is strategically located and it is near the National Highway 45, which connects the area with Central Chennai and Southern Tamil Nadu.

Infrastructure and future prospects

Some well-known multinational companies such as Accenture, Ford and Mahindra, etc. have offices in the neighborhood, and are just a few minutes' drive from this place via the Vandalur-Kelambakkam Road or the Old Mahabalipuram Road. Therefore, social and civic infrastructure is fast developing, leading too appreciation of prices of residential properties in Guduvanchery.

The locality has good educational institutions such as Euroline International, St. Mary's Matriculation School, SRM Dental College, etc. Prominent hospitals in the area are Nandivaram-Guduvanchery Government Hospital, SRM General Hospital, Christudas Hospital, etc. The place also has several branches of financial institutions such as Canara Bank, Union Bank of India, State Bank of India, etc. Famous shopping malls in the locality include Phoenix Marketcity, Alsa Mall and Express Avenue.

Price comparison

The average price in Rithika Avenue is Rs. 850 per sq.ft., which is much lower than the average apartment price of Rs. 3,300 per sq.ft. in Guduvanchery locality. Guduvanchery enjoys easy accessibility from major localities of Chennai as a comprehensive public transportation network serves the area.

PropTiger.com's rating

Overall recommendation

Rithika Avenue is a good deal for both investors and end users as the prices are very low at the moment. Since infrastructure in Guduvanchery is fast developing, real estate prices are expected to rise in the near future. One can expect good returns on investment.

For further information on Rithika Avenue in Guduvanchery, visit PropTiger.com.