October 17, 2013

Siruseri: One of The Finest Residential Hot-Spots in Chennai

Nestled between Navalur and Kelambakkam, Siruseri is located in the southeastern part of Chennai. This locality roughly marks the end of the IT corridor of Chennai, along the OMR (Old Mahabalipuram Road). The prime factor driving real estate growth in this locality is SIPCOT IT Park, which house numerous IT companies. The newly developed six-lane stretch is populated with IT and ITES companies. The surrounding entertainment hubs, Muthukadu Lake, Kovalam Beach, Vandalur Zoo, MGM, Mahabalipuram and Mayajaal are adding to the demand for flats in Siruseri.   

Connectivity

Siruseri: One of The Finest Residential Hot-Spots in ChennaiSiruseri can be accessed via share autos and buses which are the main modes of transport for the residents of Siruseri apartments. The nearest bus stop is Old Mahabalipuram Road, outside the SIPCOT IT Park benefitting the IT workers working there. Buses that originates from CMBT, Thiruvanmiyur, Adyar, Saidapet, Central, and Broadway pass through Siruseri providing relief to the residents here, however, looking at the demand of the residents, government is planning to construct a bus terminus here very soon. Currently, share autos are widely used to travel to nearby localities like Kelambakkam, Navalur, Thiruvanmiyur, etc.

Recently, Siruseri is witnessing a drastic change in its skyline as the Chennai government is launching various projects here to enhance the locality. For a smooth and easy ride for the thousands of people who come to IT corridor every day, the government has announced an elevated corridor along the 45 kilometre OMR. This will be one of the longest corridors built in India.
Also, there are plans to build a multi-level vehicle parking facility that can accommodate 2000 vehicles and 50 buses and as there is a heavy vehicle movement in this area, there are plans to widen the road from Siruseri to Poonjeri which will connect to East Coast Road. After completion of project, these roads will have six lanes which will minimize the traffic congestion. All these proposed plans are definitely going to boost the Siruseri residential and commercial real estate beyond imagination.

Education, Entertainment and Health Care

As the residential real estate is booming so is the demand for good schools and colleges and hospitals. Few of the reputed and International schools which have set up their camps in and around Siruseri are Padma Seshadri Bala Bhavan Senior Secondary School (PSBB), BVM Global School, GT Aloha Mandir, Sishya Mehta School, Primrose School, Headstart School, St, Johns International School and Sushil Hari International Residential School on Kelambakkam Vandalur road. Other government schools are Panchayat Union Primary School and Padma Adarsh Higher Secondary School. This place is also well-known for academic institutions like Chennai Mathematical Institute and ITM Business School. Due to lack of space in the city, a good number of engineering colleges are cropping up here. Some of them are Hindustan College of Art and Science, Jeppiaar Engineering College, Mohammad Sathak AJ College of Engineering, Indian Institute of Information Technology.
When it comes to healthcare, one can find the city’s best hospitals located here. A few of them worth mentioning are Chettinad Health City, Global Hospital and Health City, Dr.Kamakshi Memorial Hospital and Ragas Dental College and Hospital. IT professionals are opting for residential projects in Siruseri witnessing the new developments in here.

Real Estate Growth

Siruseri real estate

This locality is witnessing a boost in the real estate market after the proposed projects by the government and the IT boom in Sipcot IT Park. The road widening project between Siruseri and Thiruporur is adding more to its credentials. By the time the projects will get over, the prices are definitely will be sky rocketed. As these developments are increasing the demand, the builders are coming in from all section with viable projects in Siruseri. This area is attracting some of the leading builders, like, L&T South City Projects Ltd., Real Value Promotes, TATA housing projects among others who are providing state of art facilities and amenities to its residents. Srinivasa Nagar is a prominent housing complex in the area that comprises mostly plots in Siruseri owned by affluent NRIs.

The ROI for flats for sale in Siruseri is witnessing a 3% downward trend. The highest locality price is Rs. 3600 per square foot, the lowest locality price is Rs. 3500 per square foot and the average locality price is Rs. 3590 per square foot, but the rental property is seeing a rise of 8% as the demand is more for rental residential flats when compared for end use. The rental rate is Rs. 11-13 per square foot.
The rate of commercial land for sale in Siruseri is around Rs. 35–Rs 40 lakhs for 1200 square feet.    
This locality is widely catering to the needs of people by providing all sorts of luxuries at their door steps. Siruseri is one of the best residential properties in Chennai which is creating new trends in property market. Hence, investing here is a good option as property prices are definitely going to be hiked here.

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