[ecis2016.org] Sholinganallur, an IT hub, is one of the rapidly developing areas of Chennai and is located very close to the industrial zones. The area has good civic amenities and is very well-connected to other parts of the city
Sholinganallur is a premier residential area located in the southern suburbs of Chennai. Nearby Sholinganallur localities include many famous areas of the city such as Perungudi, Siruseri, Taramani, 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 Sholinganallur. Some of the premier projects in Sholinganallur include Navin Housing Maris Dale, Ramaniyam Gauravv, Mantri Group Solitude, etc.
You are reading: Sholinganallur property market: An overview
The area is one of the IT hubs in Chennai. Many IT majors like Wipro, Cognizant, Tech Mahindra, HCL Technologies, etc., have their offices located in the area. As a result, there has been a surge in the demand for residential apartments in Sholinganallur. Although prices of the flats in Sholinganallur 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.
Sholinganallur 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 sector as well. Further, the government of Tamil Nadu is building a financial city here to accommodate international financial corporations. A complex is also being built by the National Maritime University.
Connectivity with nearby Sholinganallur localities
- There are a few major roads which run through the area i.e., the East Coast Road, Old Mahabalipuram Road, Velachery Tambaram Road and Rajiv Gandhi Salai and Karaingar Karunanidhi Salai.
- The area has an extensive bus service and the Adyar Bus Stand, Tambaram Bus Stand and Adambakkam Bus Stand lie in close vicinity.
- There are railway stations at Tambaram and Guindy and both of them are approximately 17 kilometres from Sholinganallur.
- The Guindy metro station and the St Thomas Mount metro station are also close to Sholinganallur.
- The international airport is also not far from the locality.
Employment hubs near Sholinganallur
- The TEK Meadows and TECCI Park are approximately 4 kilometres away.
- Bahwan Cybertek IT Park, Pacifica Tech Park and Alpha City SSPDL are located approximately 7 kilometres from the area.
- ASV Suntech Park and Prince Info City are approximately 5 kilometres away only.
Sholinganallur offers very good social infrastructure to its residents. Some of the reputed schools in Sholinganallur include the Government Higher Secondary School, Amelio Early Learning Center, Ellen Sharma Matriculation Higher Secondary School, etc. Some of the leading hospitals in Sholinganallur include the Global Hospital, Chettinadd Hospital, Swaram Hospital, etc. The shopping needs of the residents are catered by malls in Sholinganallur such as the Vantage Plaza, DLF Mall, Phoenix Market City, etc.
Price trends in Sholinganallur
- Price appreciation—Around 24% in the last one year.
- Current property rates—Rs 3,899- Rs 9,090 per sq ft.
Reasons to invest in Sholinganallur
Considering the price trends in Sholinganallur 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 zone of Chennai and Sholinganallur 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, Sholinganallur can be an excellent place for investment.
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