Urapakkam property market: An overview

[ecis2016.org] Urapakkam is one of the localities on the outskirts of the city of Chennai. The locality is very well-connected to all parts of the City of Chennai

Urapakkam is located on the outskirts of the city of Chennai in Kancheepuram district and is developing and coming up as a major suburban locality of Chennai. The area is very close to Tambaram. Tambaram is one of the oldest neighbourhoods located in the southern part of the city of Chennai. Earlier the area was a village and during the British rule, it was a camp for the British East India Company. Now, Urapakkam is known as the gateway to the southern part of Chennai. Nearby Urapakkam localities include Tambaram, Pallavaram, Chrompet, Chitlapakkam and Thiruneermalai.

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Being one of the oldest parts of the city, it is one of the premier residential areas as far as Urapakkam real estate is concerned. Beautifully planned and landscaped, the area has well-developed social amenities and is home to a cosmopolitan population. Due to advent of various IT majors and other multi-national companies (MNCs), the city of Chennai has been witnessing a rapid influx of working population from outside the city. As a result, there has been a surge in the demand for residential apartments in Urapakkam, with it being located just on the outskirts of Chennai.

There are a number of noted projects which have come up in the area like Marutham Group Marutham Spring, Marutham Royal Woods and Arun Excello Desh. Builders in Urapakkam like the Marutham Group and Arun Excello Group are working on some of their projects at Urapakkam.

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Connectivity with nearby Urapakkam localities

• Chennai Bypass Expressway, Vandalur-Kelambakkam Road, Grand Southern Trunk (GST) Road and Outer Ring Road are some of the prominent roads which run though the area.
• The area has extensive bus services and the Tambaram Bus Stand lies in close vicinity.
• The area has its own suburban railway station. Apart from this, there is a railway station at Tambaram from where the railway services can be availed. The Tambaram railway station is approximately about 6 kilometres away from Urapakkam.
• The International Airport Metro Station, the St Thomas Mount Metro Station and the Alandur Metro Station lie at close proximity.
• The Chennai International Airport is about 20 kilometres away from the area.

Read also : MIAL gets state government’s nod, to develop Navi Mumbai Airport

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Employment hubs near Urapakkam

• The Olympia Tech Park, the TEK Meadows and the MPL Silicon Towers are located at an approximate distance of about 22 kilometres from the area.
• The Chennai Trade Centre, the SIDCO Industrial Estate and TECCI Park are approximately 24 kilometres away from the area.

Read also : MIAL gets state government’s nod, to develop Navi Mumbai Airport

Read also : There will not be any fund crunch for PMAY scheme: Housing minister

Schools in Urapakkam and other social amenities

Urapakkam offers very good social infrastructure to its residents. Some of the reputed schools in Urapakkam include the Loyola Matriculation Higher Secondary School, Lalaji Memorial Omega International School and Chellammal Vidyalaya Senior Secondary School. Some of the leading hospitals in Urapakkam include the Deepam Health Care Centre Pvt Ltd, Chettinad Health City and Global Hospitals. The shopping needs of the residents are catered to by malls in Urapakkam such as the Gold Souk Grande Mall, Phoenix Market City and Matrix Mall.

Read also : MIAL gets state government’s nod, to develop Navi Mumbai Airport

Read also : There will not be any fund crunch for PMAY scheme: Housing minister

Price trends in Urapakkam

• Price appreciation- Around 27% in the last one year.
• Current property rates- Rs 2,958 – Rs 4,618 per sq ft.

Read also : MIAL gets state government’s nod, to develop Navi Mumbai Airport

Read also : There will not be any fund crunch for PMAY scheme: Housing minister

Reasons to invest in Urapakkam

Considering the price trends in Urapakkam and the rising demand, the locality would prove to be a good investment. There is excellent appreciation of property rates with a number of projects being developed here. The area has many gated communities and luxury apartments. The area offers excellent connectivity and social infrastructure and these are the reasons for its rapid growth. There is no denying that Urapakkam is certainly one of the best places to live in Chennai. Considering all these factors, Urapakkam is an excellent place for investment.

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Category: Lifestyle