Sholinganallur to Witness Surge in High-End Residential Units by 2025

Sholinganallur, a key real estate hotspot along Chennai’s Old Mahabalipuram Road (OMR), is poised for a significant transformation with the addition of over 5,000 high-end residential units in high-rise buildings by 2025. Once predominantly catering to IT professionals, the locality is now attracting non-IT buyers from nearby areas like Adyar, Thiruvanmiyur, and East Coast Road (ECR), driven by enhanced metro connectivity and affordability.

The residential market in Sholinganallur has been robust, with 8,300 units launched between 2018 and Q3 2024. Of these, 69% are under construction, while 31% are ready-to-move-in units. The locality witnessed a remarkable surge in supply in 2020, accounting for 34% of South Chennai’s housing market. However, oversupply led to a dip in new launches in 2021. Recovery began in 2022, with the market share reaching 23% by Q3 2024, signaling steady demand.

“The mid-segment housing, priced between ₹40 lakh and ₹80 lakh, dominated with 66% of launches between 2018 and 2024. Now, there’s increasing demand for premium properties priced above ₹1 crore to ₹2.5 crore,” said Sanjay Chugh, Director, Anarock Property Consultants.

Sholinganallur’s appeal lies in its affordability compared to other city areas, offering larger 3-4 BHK apartments in 18-24-floor complexes. “Buyers are attracted by the area’s top-notch schools, social infrastructure, and metro connectivity,” added Ranjeeth Rathod, MD, DRA Homes.

However, rapid real estate growth has exposed glaring infrastructure gaps. Residents highlight the need for better roads, sewage systems, and water supply. “Despite being integrated into the Greater Chennai Corporation 13 years ago, basic infrastructure remains inadequate. Overhead power lines have not been replaced with underground systems, causing frequent accidents,” said D. Raman, President, Confederation Sholinganallur Residents Welfare Association.

The upcoming high-rise projects signify a promising future for Sholinganallur, but the infrastructure must evolve to sustain this growth.