October 16, 2013

Surrounding Areas Pushing Real Estate in Urapakkam

Urapakkam is a fast-growing suburb located in the southern part of Chennai. Urapakkam is situated between between Tambaram and Chengalpattu at a distance of 8 km and 21 km respectively. Urapakkam is considered the Gateway to South Chennai on the GST road after the expansion of CMA (Chennai Metropolitan Area) till Vandalur. The railway line that runs through it separates Urapakkam into two sections: Urapakkam east and Urapakkam west. Urapakkam is surrounded by Madambakkam and Adhanur villages on the western side, Karanai-Puduchri and Iyenchery villages on the eastern side, by Karanai-Puducheri and Iyenchery villages, Vandalur on the northern and Guduvancheri on the southern side.
Real Estate in UrapakkamReal Estate in Urapakkam

Strategically located on NH 45, this area enjoys close proximity to fast-developing corridors like Vandalur-Kelambakkam Road, SP Koil-Oragadam-Sriperumbudur Road, and the Outer Ring Road (Vandalur to Minjur) which has encouraged Urapakkam real estate development.

The main modes of transport are share auto and bus. Buses that originate from Gudvancheri pass through Urapakkam to reach different parts of city like, T. Nagar, Broadway, Tambaram, Vadapalani, Nanganallur, Hastinapuram and CMBT. Most reliable source of transport is the share autos which transport residents of Urapakkam apartment to nearby localities. The nearest rail station is Tambaram which connects to places like Guindy, Nungambakkam, Egmore and Chennai Central.

Civic and Social Infrastructure

Urapakkam is surrounded by good colleges, schools, hospitals, financial institutions and supermarkets. Some of the well-known schools and colleges of this locality are Shri Sankara Vidyalaya Matriculation School, Crescent School, Vidya Mandir (CBSE School), SRM University, Sri Ramanujar Engineering College, Vellore Institute of Technology and Sri Krishna Engineering College among others. A good number of nationalized banks have established their base here. They are ICICI bank, Indian Overseas Bank, Canara Bank and HDFC Bank. For shopping needs, one can shop at Nilgiris Supermarket, Reliance Fresh and Eden Supermarket. Proximity to all the daily life necessities has increased the demand for flats and plots in and around Urapakkam.

Real estate

The proposed Moffusil bus terminus in Vandalur may drastically change the skyline of Urapakkam and the proximity to roads like Vandalur-Kelambakkam Road, Oragadam-Sriperumbudur Road, and the Outer Ring Road has given a convenient access to IT Parks and companies such as Shriram Gateway SEZ, Mahindra World City, L&T Estancia SEZ, Krisp IT Park. IT professional working in these IT parks have increased the demand for house rental. A few are even looking for good Urapakkam plot for sale for investment purpose.

Witnessing the growth of this locality, real estate builders are flocking to this area. Some of the prominent builders who are constructing apartments in this suburb are: Zion Queen’s Court by Zion Homes and Estates, Natwest Aura by Bharath Estates, Le Nid by Antony Associates and Royal Woods by Marutham Group. Along with basic amenities such as 24-hours security and power backup, water supply, a high range of furnished accommodation is available with AC, refrigerator, modular kitchen, Wi-Fi and internet facilities, inverter facility, closed covered car parking, club house with functional gym and ample 2-wheeler parking space, etc. Beside these, several commercial building like malls are coming in and around this locality. They are Gold Souk Grande Mall, Shriram Mall, Estancia mall, etc.

The residential plot for sale is witnessing a downtrend of 1% in q-o-q. The highest locality price is Rs. 14500 per square yard, the lowest locality price is Rs. 11600 per square yard and average cost per square yard is Rs. 13100. The rent for residential houses and apartments in Urapakkam is Rs. 8 and Rs. 11 per square foot respectively.

Similarly, the multistory flat for sale in Urapakkam is witnessing a decrease of 2% in q-o-q. The highest locality price is Rs. 3500 per square foot, the lowest locality price is Rs. 3300 per square foot and the average cost per square foot is Rs. 3400.

Urapakkam is a good place to invest when compared to other localities with similar kind of infrastructures.