[ecis2016.org] Mogappair, an industrial zone and IT hub, is one of the rapidly developing areas in Chennai. The area has good civic amenities and is very well-connected to other parts of the city
Mogappair is a premier residential area located in the north-western suburbs of Chennai. Nearby Mogappair localities include many famous areas of the city, such as Anna Nagar, Padi, Avadi, etc. A variety of projects are available in the area and range from affordable to luxurious. There are a lot of reputed builders like the Ramaniyam Group, Navin Housing and Mantri Group who are working on their different projects in Mogappair. Some of the premier projects in Mogappair include VGN Platina, Brigade Xanadu, Siddharth Housing Surabhi, etc.
You are reading: Mogappair property market: An overview
The area lies very close to the IT hubs of Chennai. Many IT majors like TCS, Dell, Perot Systems, Polaris, etc., have their offices in the area. As a result, there has been a surge in the demand for residential apartments in Mogappair. Although prices of the flats in Mogappair are going up at a rapid pace, still, affordable housing to suit the needs of the mid and the junior-level executives of the various companies, can be found here.
Mogappair has been recently brought under the purview of the City Corporation of Chennai and the plans for a number of infrastructure projects have been drawn up. The civic amenities have also improved here. The industrial and IT sector growth have led to the development of retail and hospitality sectors, as well.
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Connectivity with nearby Mogappair localities
- There are a few major roads which run through the area – i.e., Chennai Bypass Expressway, Chennai-Tiruvallur High Road, Redhills Road and Chennai-Kolkata Highway.
- The area has an extensive bus service and Mogappair East and West Bus Terminus, Avadi Bus Stand, Koyembedu Bus Stand and CMBT lie in close vicinity.
- There are railway stations at Avadi and Villivakkam and they are approximately 14 and 7 kilometres (respectively) away from Mogappair. Apart from that, the area is also well-served by the Ambattur railway station.
- The Koyembedu metro station is also close to Mogappair.
- The international airport is also not far from the locality.
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Employment hubs near Mogappair
- The One India Bulls Park is approximately 3 kilometres away.
- Prince Info IT Park, Mogappair Clothing Co, Ambit IT Park and Mogappair Industrial Estate lie within the radius of 3-4 kilometres.
- Quanta Engineers is approximately 6-7 kilometres away.
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Mogappair offers very good social infrastructure to its residents. Some of the reputed schools in Mogappair include the TI Matriculation Higher Secondary School, Spartan Matriculation Higher Secondary School, Ebenezer Marcus International School, etc. Some of the leading hospitals in Mogappair include the Sir Ivan Stedeford Hospital, Sundaram Medical Foundation, Ashiana Hospital, etc. The shopping needs of the residents are catered by malls in Mogappair such as the Ampa Skywalk Mall, Chandra Metro Mall, Golden Shopping Centre, etc.
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Price trends in Mogappair
- Price appreciation—Around 24% in the last one year.
- Current property rates—Rs 4,868- Rs 7,629 per sq ft.
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Reasons to invest in Mogappair
Considering the price trends in Mogappair and the rising demand, the locality is touted to become a good investment region in future. There are chances of good appreciation of property rates with a number of projects being developed here. Moreover, the area is located very close to the industrial zones of Chennai and Mogappair itself being an IT/ITeS hub, the demand for property here will only move northward. What more? The Chennai City Corporation has recently taken over the administration of the area, so the scope of development of infrastructure facilities is also good here. Considering all these factors, Mogappair can be an excellent place for investment.
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Source: https://ecis2016.org
Category: Lifestyle
