Sriperumbudur - Is it the next OMR? Better to buy here?

Living in Chennai, you don't have to be a rocket scientist to notice how the city is redefining its confines. And buying a house has never been so exciting. Earlier in the decade, the buzz was about the swanky townships and housing colonies cropping up at OMR, after which the GST road got added on to the list. Today all eyes are on Sriperumbudur.


It was not long ago that Hyundai set up shop there, and now it is being called the new manufacturing hub. And what's more? Property developers, both big and small are making a foray into this developing stretch. Though Sriperumbudur might still seem like a distant neighbourhood to most, there are examples like OMR which almost seamlessly got included into the city. So what sets it apart from its predecessors?

From OMR to Sriperumbudur

The answer lies in how it all started. OMR got a facelift at breakneck speed back then, owing to the IT boom. There was a flurry of economic activity on the stretch when realtors capitalised on the entry of the major software giants there. Since the IT Industry naturally became the benchmark in that area, housing rates sky-rocketed.

Even after the economic crisis, and the plummeting of many of the software giants, property rates still continue to be on the higher side. The GST Road on the other hand has been witness to a haphazard pattern of development. Though there have been companies like Ford which came up there, infrastructure did not follow. “Sriperumbudur is developing in a very organised way. It is for those who are looking for affordable housing with long-term development,” says Kishore Kumar of True Value Homes.

He says that the manufacturing sector has always been very strong in the state. And with the Government participating in developing Sriperumbudur as a manufacturing hub, it has one of the best prospects of development . He estimates the rate of appreciation to be 20 to 25 percent as of today.

The Best Bet

If you are someone who is looking to lease out property , Sriperumbudur might be your best bet. There is an enormous demand for houses on rent from the industrial workers who most often have to travel from the city or nearby towns.

Also there are several engineering colleges and institutes, in the vicinity, who only add to the demand. Mr Ravi who has bought two apartments there hopes to cash in on this trend. “It is not an area that can be considered residential in the way we understand the term.

It has a floating population that comes in from different places like Tamilnadu, Andhra Pradesh and Karnataka and even Delhi, and they are in lookout for good residences that are available on rent That is the potential of that area now- it can fetch you satisfactory rents,” he says.

Meeting New Demands

The demand now in Sriperambudur is at the moment one dimensional, with small houses that can be easily paid for being the most preferred choice. It will be sometime before premium and luxury apartments become part of the real estate offering in this area, according to professionals in the field. “A study of the local demand shows that 800 to1085 sq.ft. homes fit the requirement and affordability criteria of the market here,” saysKishore. Our latest project in Sriperambudur, TVH Svaya meets this demand perfectly, he added. Builders in this area are also offering “Gated Communities”, where plots with basic infrastructure like electricity, water, roads, and security are available. “Buyers can build their own houses on these plots and the idea seems most popular amidst the NRIs and North Indians,” says Jeyaram, the CEO of Propshell.

Existing Infrastructure

When a particular area gets earmarked by the government for its industrial development, basic infrastructure like roads, electricity and water assumes primacy over the social infrastructure like schools, colleges, hospitals and markets.

In Sriperumbudur too, this has been the case so far with development percolating gradually into the social framework. With a huge number of companies still in the process of beginning their operations from here, the potential for development cannot be over-emphasised.

Being away from the crowd of the core city, the groundwater table levels in Sriperumbudur have escaped the pressures of an ever-thirsty population. The presence of a lake in the vicinity and few agricultural lands, has kept water scarcity at bay for residents of this suburb.

Though being far away from the city seems to have helped, it can also be a burden if the place is not connected properly with well maintained approach roads in place.

Raising Connectivity

Presently, Sriperumbudur is connected to Chennai and neighbouring cities like Bangalore only through roads. But, with plans to transform the area into a logistics hub on the anvil, the entry of other modes of transport won't take too long, according to realtors in the area.

Already on the cards are a railway link that connects Chennai, Sriperumbudur and Kanchipuram and the elevated expressway that goes right up to Ennore and the Madras Port. With all these projects, the area will soon be easier on the commuter.

There are several reasons why one should invest in Sriperambudur and the simple fact that land is cheaper here than other parts of the metropolis is among the most important.

This advantage coupled with the growing demand of the industrial population in the area for decent living can make Sriperumbudur the goldmine you were looking for.

Throw in a few multiplexes and a shopping mall, and who knows maybe you would want to move in there yourself!

Source: The Hindu /*added buzzr for google buzz */
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Rom Whitaker and Janaki Lenin keep their eyes peeled for a leopard that turned up at their house sometime ago. Any guesses about where the couple lives? In a village close to Chengalpattu town and not too far from Chennai. Driving from the city to their home takes about two hours. Three roads lead up to their wilderness home: The GST Road, the ECR (take the road to Chengalpattu just before Mahabalipuram town) and the OMR (take the road to Chengalpattu at Thirupporur).


Herpetologist Rom and Janaki belong to a small group of people who have chosen to live in the exurbs that are suitably linked to urban centres, mainly in search of a better quality of life. Thanks to better roads, improved communication facilities and more hospitals and educational institutions beyond the fringes of the city, their tribe is growing.

With an inborn love for the dynamic quiet of the wilderness, Rom and Janaki moved to their 11-acre farm in 1997, when living conditions were far from comfortable. Then, recalls Janaki, the OMR was a misnomer for a road. With no divider, the narrow road posed great danger to motorists.

“In 1997, there was no landline. No internet. We would travel to the city just to send e-mails,” says Janaki. Life has since improved for this couple. Driving on the OMR is now a breeze, thanks to the new toll highway. Also, thanks to high-speed Internet connectivity, they do not have to go to the city just to catch up on their email.

Demetrius Issac felt constricted by urban living. It was having a toxic effect on his mind and body, but he resisted the desire to move to his one-acre farmhouse in Thandalam. He was not sure if he could stay cut off from the city.

However, one year ago, he took the plunge and now he does not miss Chennai. “I shop at Poonamallee, which is just a short drive away from Thandalam. This suburban town has departmental stores that have just about everything. Some even offer choice foreign chocolates. Since the Saveetha Medical University is next door, I don't have to worry about medical attention in an emergency,” says Issac. “With road and social infrastructure beyond the Chennai Metropolitan Area improving at a rapid pace, more and more people will opt for exurbia.”

Sudha's experience is similar. She and her daughter live in their 10-acre farm in Asoor, 8 km from Walajahbad. Sudha does her shopping in Walajahbad. She does not feel socially cut off. Train connectivity from Walajahbad to Chennai Beach enables many of her relatives to visit her. As the town is connected by broad roads, those of her relatives who have their own conveyance also visit her often. With its big orchard that attracts a diversity of birds and the pastoral ambience, Sudha's farm is a magnet for friends and relatives. Issac too says his sylvan farm enables him to be a better host.

Rafiq Sait of Gatsby Village, who moved to his half-acre house in Uthani two years ago, has a different take on social life in exurbia. Visiting friends and being visited by them have decreased in intensity. However, living in a less polluted environment makes up for the disadvantages of exurban existence. He thinks it is only a matter of time before he makes friends around his new home.

Isaac says most of those who are drawn to exurbia look beyond socialising. “People move to the suburbs because of land and houses that are available at affordable prices. Those who are go to exurbs invariably look for an alternative lifestyle. On my piece of land, I grow my own vegetables and rear birds and animals. Thanks to the large space, I have a more active life. I have become fitter, having lost five kilos.” says Issac.

Sudha's exurban existence includes nine Indian hounds. “At one point, we had 40 hounds,” says Sudha. Her family has always been attracted to exurbia. They lived in Padappai when the town was exurban. “We moved to Asoor after Padappai got crowded,” she says.

Their 11-acre farm allows conservationists Rom and Janaki to carry out experiments in afforestation. They have a variety of untamed animals for company. And, when they urgently need it, civilization is not far away. Their farm is well-connected to two urban centres – Chennai and Chengalpattu. “The Chettinad Health City in Kelambakkam is just a 30-minute drive away. And, we have the district hospital in Chengalpattu,” says Rom.
That is like having the best of both worlds.

Source: The Hindu property plus /*added buzzr for google buzz */
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