Thoraipakkam property market: An overview

[ecis2016.org] Thoraipakkam, located very close to the industrial zones and IT parks, 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

Thoraipakkam is a residential area located in the southern suburbs of Chennai. The area is located on the eastern banks of the Pallikaranai wetlands, which is a rich source of biodiversity. Nearby Thoraipakkam localities include many famous areas of the city such as Pallikaranai, Palavakkam, Neelankarai, Karapakkam, Perungudi, 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 Siddhartha Group, Ramaniyam Group and Arihant Group who are working on their different projects in Thoraipakkam. Some of the premier projects in Thoraipakkam include Akshaya Homes Tango, TVH Park Villa, Ramaniyam Isha, Arihant Escapade, etc.

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The area lies very close to the IT hubs of Chennai. As a result, there has been a surge in the demand for residential apartments in Thoraipakkam. Although prices of the flats in Thoraipakkam 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.

Thoraipakkam 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 sectors’ growth have led to the development of the retail and hospitality sectors, as well.

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Connectivity with nearby Thoraipakkam localities

• There are a few major roads which run through the area,e., Rajiv Gandhi IT Expressway, Inner Ring Road, East Coast Road and OMR.
• The area has an extensive bus service and the Adambakkam Bus Stand, Guindy Bus Stand and Chrompet Bus Stand lie in close vicinity.
• There are railway stations at Tambaram and Guindy which are approximately 16 and 11 kilometres (respectively) from Thoraipakkam.
• The Alandur Metro Station and the St Thomas Mount Metro Station are also close to the area.
• The international airport is also not far from the locality.

 [ecis2016.org] Property rates & trends in Thoraipakkam, Chennai

Employment hubs near Thoraipakkam

• The MPL Towers is located near Thoraipakkam.
• Bahwan CyberTek IT Park is located approximately 3 kilometres from the area.
• ASV Suntech Park and Prince Info City are also approximately 5-6 kilometres away only.
• Shapoorji Pallonji Info City and Arihant Technopolis are located approximately 6 kilometres away from the area.

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Schools in Thoraipakkam and other social amenities

Thoraipakkam offers very good social infrastructure to its residents. Some of the reputed schools in Thoraipakkam include the American International School, New Prince Matriculation Higher Secondary School, Abacus Montessori School, etc. Some of the leading hospitals in Thoraipakkam include the Dr Kamakshi Memorial Hospital, Fortis Malar Hospital, Velachery KS Hospital, etc. The shopping needs of the residents are catered by malls in Thoraipakkam such as the Phoenix Market City, Vantage Plaza, DLF Mall, etc.

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Price trends in Thoraipakkam

• Price appreciation—Around 20% in the last one year.
• Current property rates—Rs 4,968-Rs 7,842 per sq ft.

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Reasons to invest in Thoraipakkam

Considering the price trends in Thoraipakkam 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 IT/ITeS hub. Thus, 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, Thoraipakkam can be an excellent place for investment.

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Source: https://ecis2016.org
Category: Lifestyle