Chennai currently ranks 9th on Lonely Planet’s list of top 10 cosmopolitan cities to live in and offers excellent quality of life for its residents.
May day in Chennai this year has been one worth remembering. The blistering heat of the new financial year has begun already. With the GST fiasco still looming large on everyday lives, owning a home continues to be a dream for many.
Chennai has always been receptive to extremities in seasons and culture. Chennai has that warmth that is perfect for residential settlement. With rapid industrialization and an explosive population, Chennai has become a go-to city for many people. However, finding a good apartment has become a long-drawn process. The growth of the city has encouraged more and more people to own or invest in properties on the outskirts of Chennai.
One such blissful spot in Chennai is Old Mahabalipuram Road (OMR) or Rajiv Gandhi Salai. OMR is a 35 km stretch between Madhya Kailash Junction and Thiruporur.
We at Spini have curated Top 4 Reasons to buy property in OMR
1. Improved Connectivity and Better Conveniences
Old Mahabalipuram Road is well linked with ECR and GST road. The Chennai airport is within reach of these roads due to its connectivity. OMR is also well-connected to the inner parts of the city via its bus services, connecting areas like Adyar and Guindy.
Apart from existing roads, other development projects proposed to come soon. These link roads will give a boost to the connectivity factor. People moving to OMR can have a taste of quality living as OMR is equipped with quality amenities such as top schools, colleges, hospitals and recreational spots. Several swimming pools, large gaming arenas, recreational clubs, clubhouses and food outlets are frequented by people from all walks of life.
OMR is home to some reputed institutes like PSBB Millennium, Abacus Montessori, NIFT, Vels Vidyashram, Jeppiaar International, APL and Hindustan International School, Sathyabama university and Hindustan University.
OMR also enjoys easy access to healthcare with reputed hospitals like Apollo Hospitals, Chettinad Health City, Visa and Global Health City.
2. Major IT hub @OMR
OMR is the silicon valley of Chennai and boasts of a number of IT/ITES firms. The Rajiv Gandhi IT Expressway is dotted with huge tech parks. The contemporary ambiance makes it a popular choice for many IT companies MNCs to set up offices here. OMR is all set to earn the tag of being a “Financial City” as several banks are planning to set up their back offices here.
The entire OMR stretch is noteworthy for its architectural splendor. Most of the residential plots are designed with a perfect blend of futuristic and traditional appeal.
The Government has also pumped a lot of infrastructure developments in OMR. There are proper water, sewerage connection, and other planned development initiatives. As a thumb rule, IT establishments generally push the real estate prices. OMR is no different.
3. Serenity reloaded
OMR is different from the hustle and congestion of the city. The air is relatively clear, thanks to the green belt and the seaside in the area. The scenic landscape is a great way to make everyone feel at home.
After all, who doesn’t want a breath of fresh air?
4. Great investments at affordable prices.
With the increasing price in real estate business, the demand for great residential properties are also up.
OMR has seen a capital appreciation of about 50 % in property value in the last few years. Experts estimate greater growth rate in the coming years. It is estimated that 1 acre of land, which used to cost around Rs 75 lakh in 2010 now is more than three times the cost.
Moreover, the IT boom has created a corresponding demand for houses on OMR. Several new development projects are being planned for OMR, which will ensure price appreciation for real estate. Rapid advancement in OMR is a major reason to start deciding on a property to invest here.
Even a nominal 2- BHK flat gets a rent of about Rs 15,000 on OMR.
OMR is one of the most happening places in Chennai right now.
Reach out to Spini and we’ll be glad to help you find that perfect home in OMR.