October 17, 2013

Tambaram: A Developed Realty Location

Tambaram: A Developed Realty LocationTambaram, a developed satellite city, is 27 kilometres away from Chennai and is located on the Chennai-Trichy National Highway. The highway and the railway line from Chennai Egmore to Kanyakumari divide the town into two sections: East Tambaram and West Tambaram. Tambaram is described as the gateway to Chennai city. The neighbouring localities of Tambaram are Seliyur, Kattuppakkam, Iyyapanthangal, Chromepet and Tambaram Sanitorium. Tambaram is home to the Tambaram Air Force Station of the Indian Air Force. The neighbourhood is served by the Tambaram railway station of the Chennai Suburban Railway Network

The main modes of transport are rail and bus services. The Chennai suburban railway network operates a suburban railway service from Chennai Beach to Tambaram. Also, one can find trains to Chengalpet and Guduvanchery from Tambaram. The station also serves as a junction for passengers travelling to Chennai via other cities of Tamilnadu and Bangaluru. The MTC buses ply to various locations like Velachery, Medavakkam, T. Nagar, Mylapore, and High Court from Tambaram. Also, the Tamil Nadu State Transport Corporation Ltd is providing bus services to cover nearby village and town via long distance destinations buses like Bengaluru, Thirupathi, Thirupathur, Arani, Kancheepuram, Mamallapuram and Tindivanam. Besides this, a new bus terminus is under construction, with plans to operate buses especially to fast-growing suburbs around Tambaram like Ponmar. Around eight more bus shelters are under construction for this new bus terminus. Tambaram (east) is directly connected to the State Highway 10, Outer Ring Road and Grand South Tank Road.
The demand for flats in Tambaram has increased after the completion of the flyover above the railway track which connects Velachery main road, Mudichur road and GST road. As the locality is directly connected to Velachery road, the workforce working in IT corridors are looking for investment in Tambaram real estate.

Tambaram is proud to be linked to some of the reputed school and colleges in Chennai. Some of them are Good Shepherd Nursery & Primary School, SDMS Jain School, BVM Global, Airforce School, Sri Kanchi Mahaswami Vidya Mandir. Colleges like Madras Christian College, Sitadevi Garodia Hindu Vidyalaya, GKM College of Engineering and Technology, Vaishnava College and Sai Ram College of Engineering are worth mentioning. A few leading healthcare institutions like Primary Health Centre, Hindu Mission Hospital and Railway Hospital are found in the vicinity.
This locality is blessed with a wide range of food joints as well. Some of them are: Al Baraq Restaurant, E set, New Royal Bakery, Best Hotel, Sri Balaji Bhavan, SPM Sweets & Bakery. One of the popular theme parks, Kishkinta is just 7 kilometres away from Tambaram.

Real estate demand for flats in Tambaram and flats near Tambaram area is increasing as most of the neighboring localities are populated with IT companies. Workforce working in IT corridor and companies nearby are looking for good residential flats in east Tambaram and in Tambaram west. Another reason for booming real estate is the proposed Tambaram Eastern Bypass Road, which has encouraged several developers to invest in Tambaram properties. Prominent developers who are constructing apartments in this suburb are: Pace Anusa and Pace Aagam by Pace Builders, Step Stone Artitha and Mansarover Harine by Step Stone Constructions, Evocon Eden Gardens and Evocon Private Limited are few among others. People interested in plots can opt for CMDA approved plots by Green City. Builders are coming up with loads of facilities and amenities to lure investors. Some of the facilities worth mentioning are Rain Water Harvesting, 24Hr Backup, Maintenance Staff, security, intercom, club house and gardens.

Price Trends:

Residential property

Tambaram: A Developed Realty LocationThe flats for sale in Tambaram east is witnessing downtrend of 3% to 4% in q-o-q. The highest locality price is Rs. 4000 per square foot, the lowest being Rs. 3500 and the average cost per square foot is Rs. 3800. The rent for houses and flats in Tambaram east is Rs. 12 per square foot.
Similarly for Tambaram west, the return on investment is witnessing a decrease of 21% for multistory apartment and the residential plot is seeing a decrease of 2% q-o-q. The residential houses for rent in Tambaram will cost Rs. 11 per square foot. The highest locality price is Rs. 3600 per square foot, the average locality price is Rs. 3500 per square foot and the lowest locality price is Rs. 3300 per square foot. Commercial property in Tambaram west is costing Rs. 35000 for a 1200 square foot area.
Witnessing the rapid development in Tambaram, it can be said that in next five years Tambaram will be the next Velachery; hence, investing here will give fat returns.