Nungambakkam property market: An overview

[ecis2016.org] Nungambakkam is one of the classy localities of the city of Chennai. Being one of the oldest residential areas of the city, it is well planned and has a cosmopolitan population. The locality is very well-connected to all the parts of the city of Chennai

Nungambakkam is one of the oldest neighbourhoods located in the city of Chennai. Historically it was under the Mughals and was handed over to the British in 1708. Since then, the locality has been a part of the city of Chennai. The locality has many multi-national commercial houses, foreign embassies and consulates, government offices, many educational institutes of repute, tourist spots and many cultural centres. The layout of the area is beautifully decorated with tress on both sides of the road and various parks and open spaces. As far as infrastructure is concerned, the locality is dotted with many important roads. One of the first flyovers of Chennai was built in this area way back in the 1970’s that eases traffic congestion of this area.

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As far as Nungambakkam real estate is concerned, the locality has premier residential complexes. Nearby Nungambakkam localities include Kodambakkam, Egmore, T Nagar and Teynampet. Many real estate projects are being developed by prominent builders in Nungambakkam like Sidharth Housing and Navin Housing. A few of the noted projects in Nungambakkam include Sidharth Housing Tulsi, TVH Eden and Navin Housing Krishna Gokulam.

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Connectivity with nearby Nungambakkam localities

• Poonamalle High Road, Dr Sivaji Ganesan Road, Sardar Patel Road and Anna Salai Mount Road are some of the prominent roads which run though the area
• It is located at a distance of approximately 8 kilometres from Koyembedu Bus Stand, one of the landmarks of bus transport in Chennai.
• As far as metro connectivity is concerned, The Koyembedu Metro Station, International Airport Metro Station, Chennai Central and Egmore metro stations are located at close proximity.
• The Chennai Central and the Chennai Egmore suburban railway stations are located approximately 6 kilometres from the area respectively. Nungambakkam has its own railway station, which is one of the largest in the city of Chennai.
• The Chennai International Airport is at a distance of approximately 16 kilometres from the locality.

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Employment hubs near Nungambakkam

• Tamil Nadu Industrial Corporation is located about approximately 5 kilometres away.
• Quanta Engineers and ETL Infrastructure- Chennai One are located approximately at a distance of 7 kilometres from the locality.
• Navin WSS Towers, Khader Nawaz Khan road, Madras Stock Exchange and the Vishranthi homes are located approximately 1-2 kilometres within the area.

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Schools in Nungambakkam and other social amenities

Nungambakkam offers very good social infrastructure to its residents. Some of the reputed schools in Nungambakkam include the Kendriya Vidyalaya Senior Secondary School, LMD Senior Secondary School and Vadapalani Matriculation Higher Secondary School. Some of the leading hospitals in Nungambakkam include the Surya Hospital, Amma Hospital and Vijaya Hospital. The shopping needs of the residents are catered by malls in Nungambakkam such as the Maya Plaza, Forum Vijaya Mall and Matrix Mall.

Read also : GST impact on the realty sector: The short to long-term analysis

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Price trends in Nungambakkam

• Price appreciation- Around 52% in the last one year.
• Current property rates- Rs 11,954 – Rs 21,081 per sq ft.

Read also : GST impact on the realty sector: The short to long-term analysis

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Reasons to invest in Nungambakkam

Considering the price trends in Nungambakkam 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 a cosmopolitan population. Moreover, the varieties of residential projects are many. The area offers excellent connectivity and social infrastructure and these are the reasons for its rapid growth. There is no denying that Nungambakkam is certainly one of the best places to live in Chennai.

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