In JLL’s City Momentum Index (CMI) 2018, Chennai stood at the 14th spot for the Asia Pacific, competing with cities like Hanoi, Nanjing, and Hangzhou. The CMI ranking is based on a variety of factors that contribute to the success of a city in the long and short term. Real estate momentum and business activities are two of them.
Clearly, Chennai has scored in these two areas very well because areas like Sholinganallur have attracted plenty of IT investments over the past few years.
Located in the rapidly expanding South Chennai, and close to Old Mahabalipuram Road (OMR), the well-established IT corridor, Sholinganallur’s growth has been driven by IT parks and companies and, consequently, housing. This is where the 377-acres of the Electronics Corporation of Tamil Nadu and the Tamil Nadu Housing Board provide some green cover as well.
Today, Sholinganallur is one of the fastest-growing suburbs in Chennai, and we see it as a perfect place for future-proofing yourself with a good property investment. Here’s why.
Connectivity
Sholinganallur has the advantage of being at the junction connecting Tambaram and East Coast Road (ECR) and Adyar along the OMR.
It is also surrounded by other important and upcoming suburbs like Siruseri, Taramani, and Perungudi.
The airport is about 20km away while the central railway station is about 25km away. The Velachery railway station is at a distance of 12km and the Adyar, Tambaram, and Adambakkam Bus Stand are all nearby.
Sholinganallur will gain more importance in the future with Chennai Metro Rail’s Phase 2, which has a Madhavaram-Sholinganallur line being planned
Employment
Sholinganallur has many employment options as it is a buzzing IT hub. Many IT heavyweights like Wipro, TCS, Cognizant, Tech Mahindra, and HCL, among others, have a presence here.
Additionally, tech parks like TEK Meadows, Tecci, Bahwan Cybertek, Pacifica, Prince Info City, and Alpha City SSPDL are all within a radius of 10km.
It is also home to the Tamil Nadu Industrial Development Corporation (TIDCO) and other non-IT industries, which provides a variety of employment choices for people looking to invest in the area. Moreover, it is also very close to other IT suburbs like Karappakam, Semmancheri, and Perumbakkam.
Social infrastructure
Sholinganallur offers great choices when it comes to schools. The Sacred Heart Matriculation Higher Secondary, JS Global, Ellen Sharma Memorial Matriculation Higher Secondary, and Amelio Early Education are some of the reputed schools in the area.
The area also has many well-known hospitals like Charu Maternity, Vee Care, and Swaram Specialty. There are plenty of parks and lung spaces too, making it a great area for children as well as senior citizens to live in.
Real estate
The real estate market in Sholinganallur is thriving as more young families look for a place to be away from the congestion of the city. The prime residential areas within Sholinganallur include Rajiv Gandhi Nagar, Panaiyur, MGR Nagar, and Akkarai, and prices on average range between Rs 3,400 per sq ft to Rs 8,700 per sq ft, which fits it squarely within a budget to medium scale.
We narrowed down the list of top five properties you can consider investing in Sholinganallur.
The Nest Builders
The Nest Builders has a good set of apartment complexes here that range from Rs 37 Lakh to Rs 48.5 Lakh.
They offer a choice of 2 BHK and 3 BHK apartments with top security, power backup, play areas, rainwater harvesting facility, and other amenities. All apartments are only stilt plus two floors giving you more space.
Lancor TCP Altura
Lancor TCP Altura is a set of 2 BHK and 3 BHK apartments with a starting price of Rs 56.2 Lakh. The complex has five towers with seven floors each and is equipped with several facilities like a water and sewage treatment plant and power backup.
It also has a clubhouse, movie theatre, lounge, restaurant, and two swimming pools, including one on the roof, yoga deck and other sports facilities.
Adroit Artistica
Adroit Artistica offers spacious 3 BHK and 4 BHK apartments, including townhouses and penthouses with private sea view terraces with a jacuzzi. Facilities include rainwater harvesting, power backup, play area and a gym. Possession of these luxury apartments is slated for December 2018 with prices ranging from Rs 83 Lakh to Rs 4 Crore.
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