[ecis2016.org] Adambakkam is one of the rapidly-developing areas of Chennai and is located very close to the industrial zones and IT parks of Chennai. The area has good civic amenities and is very well-connected to the other parts of the greater city of Chennai
Adambakkam is a premier residential area, located in the southern suburb of Chennai. Nearby Adambakkam localities include many famous areas of Chennai, such as the Anna International Airport, St Thomas Mount, Nanganallur, Tirusulam, Maddipakkam, etc. The Adambakkam real estate market has a variety of projects, ranging from affordable to luxury housing. There are a lot of reputed builders in Adambakkam, like Navin Housing, Sreenivas Housing and Siddhartha, who are working on different projects in Adambakkam. Some of the premier projects in Adambakkam include Navin Housing Dheeraikya, Navin Housing Sumathi, etc.
You are reading: Adambakkam property market: An overview
The area lies in close proximity to the IT hubs of Chennai. As a result, there has been a surge in the demand for residential apartments in Adambakkam. Although the prices of the flats in Adambakkam are going up at a rapid pace, affordable housing to suit the needs of the mid and the junior-level executives of the various companies, can still be found here.
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Adambakkam has been recently brought under the purview of the Corporation of Chennai and the plans for a number of infrastructure projects have been drawn up. The civic amenities have also improved. The industrial growth and the growth of the IT sector, have also led to the development of retail and hospitality sectors in the area.
Connectivity with nearby Adambakkam localities
- There are a few major roads which run through the area – the MKN Road, the Inner Ring Road, Grand Southern Trunk Road and the Velachery Main Road.
- The area has an extensive bus service and the Adambakkam Bus Stand, the Guindy Bus Stand and the Chrompet Bus are in close vicinity.
- There are railway stations at Tambaram and Guindy, from which the railway services can also be availed. The railway stations are proximately about 14 kilometres and 3 kilometres, respectively, from Adambakkam.
- The Alandur Metro Station and the St Thomas Mount Metro Station lie at a close proximity.
- The international airport is located at a very close vicinity.
[ecis2016.org] Property rates & trends in Adambakkam, Chennai
Employment hubs near Adambakkam
- The MPL Towers are located approximately 4 kilometres from the area.
- Bahwan Cyber Tek IT Park is located approximately 9 kilometres from the area.
- ASV Suntech Park and the Prince Infocity are approximately 10 kilometres away.
- Shapoorji Pallonji Infocity and the Olympia Tech Park are located approximately 6 kilometres away from the area.
Adambakkam offers very good social infrastructure to its residents. Some of the reputed schools in Adambakkam include the Modern Senior Secondary School, Rosary Matriculation Higher Secondary School and New Prince Matriculation Higher Secondary School. Some of the leading hospitals in Adambakkam include the Vijay Hospital, Miot Hospital and BM Hospital. The shopping needs of the residents are catered by malls in Adambakkam such as the Phoenix Market City, Forum Vijaya Mall, Matrix Mall, etc.
Price trends in Adambakkam
- Price appreciation – around 63% in the last one year.
- Current property rates – Rs 5,552-7,767 per sq ft.
Reasons to invest in Adambakkam
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Considering the price trends in Adambakkam and the rising demand, the locality should prove to be a good investment. There is excellent appreciation of property rates, with a number of projects being developed. Moreover, the area is also located close to the IT parks and the industrial zones of Chennai. The Chennai City Corporation has recently taken over the administration of the area. So, the scope for development of infrastructure facilities is also there. Considering all these factors Adambakkam is an excellent place for investment.
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Category: Lifestyle
