Valasaravakkam property market: An overview

[ecis2016.org] Valasaravakkam, located very close to the industrial zones and IT hubs, is one of the rapidly-developing suburban areas in Chennai. The area has good civic amenities and is very well-connected to other parts of the city

Valasaravakkam is a premier residential area located in the western suburbs of Chennai. Nearby Valasaravakkam localities include many famous areas of the city such as Guindy, Avadi, KK Nagar, Ambattur, etc. A variety of projects are available in the area and range from affordable to luxurious. There are a lot of reputed builders like Arihant Group, Royal Splendour and Sobha Group, who are working on their different projects in Valasaravakkam. Some of the premier projects in Valasaravakkam include Arihant Housing Amara, Royal Splendour Advaya, Sobha Serene, etc.

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Due to the advent of various IT majors and other multi-national corporations, Chennai has been witnessing a rapid influx of working population from outside. As a result, there has been a surge in the demand for residential apartments in Valasaravakkam, being one of the noted suburbs of Chennai. Although prices of the flats in Valasaravakkam 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.

Valasaravakkam 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 retail and hospitality sectors, as well.

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Connectivity with nearby Valasaravakkam localities

• There are a few major roads which run through the area, i.e., Arcot Road, Chennai-Bengaluru Highway, Chennai Bypass Expressway, Trunk Road and Outer Ring Road.
• The area has an extensive bus service and the Avadi Bus Stand, Koyembedu Bus Stand, KK Nagar Bus Stand and CMBT lie in close vicinity.
• There are railway stations at Avadi and Guindy which are proximately 9 and 17 kilometres (respectively) from Valasaravakkam.
• The Guindy Metro Station and Koyembedu Metro Station also lie close to the locality.

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Employment hubs near Valasaravakkam

• One India Bulls Park, Ambattur Clothing Co and Ambit IT Park are approximately 8 kilometres away.
• DLF-IT Park SEZ, Ambattur Industrial Estate and Prince Info IT Park are located approximately 8-9 kilometres from the area.
• AR Foundations-Acropolis is approximately 10 kilometres away.

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Schools in Valasaravakkam and other social amenities

Valasaravakkam offers very good social infrastructure to its residents. Some of the reputed schools in Valasaravakkam include the St Joseph’s Matriculation Higher Secondary School, Sarojini Varadappan Girls Higher Secondary School, Kalakshetra Matriculation Higher Secondary School, etc. Some of the leading hospitals in Valasaravakkam include the Sri Ramachandra College and Medical Institute, Madras Medical Mission Hospital, Sundaram Medical Foundation, etc. The shopping needs of the residents are catered by malls in Valasaravakkam such as the Chandra Metro Mall, Forum Vijaya Mall, Ampa Skywalk Mall, etc.

Price trends in Valasaravakkam

• Price appreciation—Around 28% in the last one year.
• Current property rates—Rs 5,923-Rs 8,365 per sq ft.

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Read also : Shipping Ministry seeks land from West Bengal for ‘coastal employment zone’

Reasons to invest in Valasaravakkam

Considering the price trends in Valasaravakkam 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 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 and so, the scope of development of infrastructure facilities is also good here. Considering all these factors, Valasaravakkam can be an excellent place for investment.

Check properties in Valasaravakkam

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