Friday , 10 January 2025
Home News Chennai’s Real Estate Transforms with Surge in Plotted Developments
NewsReal EstateTrending News

Chennai’s Real Estate Transforms with Surge in Plotted Developments

Image for representation purposes only; no ownership rights are held.

Chennai’s real estate market is witnessing a significant transformation, with plotted developments gaining popularity. Abandoned industrial campuses and joint-family properties are being repurposed into modern, amenity-rich plotted communities. In Ambattur, a 68-acre former industrial site has been redeveloped, while Wimco Nagar’s 19-acre factory site follows suit. Additionally, large joint-family properties in north and west Chennai are being divided into plots to foster cohesive communities.

These developments are equipped with amenities like clubhouses, piped gas, water, sewage connections, play areas, and more, offering homebuyers the perfect blend of personalized living spaces with community features. Bala Ramajeyam, Managing Director of G Square Realtors, noted a surge in residential plotted development post-2021, with over 100 new projects launched annually. While these projects were once confined to the outskirts, they are now increasingly located closer to the city.

The rising demand for plotted developments has attracted salaried professionals, particularly in areas like OMR and Mogappair. Legal transactions and 90% bank loans have added structure to the once-unorganized sector. Government-backed infrastructure projects on the city’s periphery have further fueled demand. Plots offer investors a high appreciation potential, often outpacing the value growth of apartments.

According to Sanjay Chugh, Director of Anarock Chennai, urban expansion and infrastructure growth have made Chennai a catalyst in the plotted development market. New projects feature premium amenities such as underground cabling, pre-laid sewage systems, rainwater harvesting, and dedicated parks. These developments provide the freedom to build a dream home with apartment-style conveniences, including eco-friendly layouts and green spaces.

Post-Covid, there has been a shift in demand for homes that match modern aspirations, with streamlined online approvals supporting growth.

Bookmark (0)
Please login to bookmarkClose

No account yet? Register

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

SIDCO Inaugurates Five Industrial Estates in Tamil Nadu for MSMEs to Come Up Easily

The state government’s latest efforts to get more micro, small, and medium...

Puravankara Expands Presence in Bengaluru with Strategic Land Acquisition

The strategic land acquisition further strengthened Puravankara’s presence in Bengaluru as one...

Tamil Nadu Chief Minister M K Stalin Declared an AI-centric IT park in Coimbatore.

Coimbatore is likely to become a hub of technological innovation as Tamil...

JSW Cement Set for Rs 4,000-Crore IPO Amid Sector M&A Activity

JSW Cement, the cement business from the JSW Group led by Sajjan...

Contact Us

How can I help you? :)

07:56