In­fra­struc­ture boom in Chen­nai The col­lapse KEY TAKE­AWAYS

HT Estates - - HTESTATES -

The year 2014 is ex­pected to be good for Chen­nai in­fra­struc­ture projects. The sec­ond half of the year is ex­pected to wit­ness the suc­cess­ful com­mis­sion­ing of the Outer Ring Road (ORR) Phase I, ie the stretch from Van­dalur to Nemilich­ery. The Outer Ring Road con­nects the north­ern and south­ern sub­urbs of Chen­nai. It will be a cat­a­lyst for the ex­pan­sion of the city, and will help the growth of in­dus­trial hubs in this re­gion through bet­ter con­nec­tiv­ity.

This six-lane high­way will ease traf­fic con­ges­tion sig­nif­i­cantly along the western pe­riph­ery of Chen­nai city. It will con­nect GST Road (NH 45) with the Chen­nai-Ban­ga­lore High­way (NH 4) and NH 205.

Re s i d e n t i a l d e v e l o p m e n t in l o c at i o n s l i ke Ku t h a m b a k k a m , Chem­baram­bakkam and Poona­mallee in west Chen­nai has been ob­served to be gain­ing trac­tion due to this new in­fra­struc­ture.

The com­mis­sion­ing of the Chen­nai

The year 2014 is ex­pected to be good for Chen­nai in­fra­struc­ture projects. The sec­ond half of the year is ex­pected to wit­ness the suc­cess­ful com­mis­sion­ing of the Outer Ring Road (ORR) Phase I as well as the Chen­nai Metro Rail Phase-I. ORR is ex­pected to push res­i­den­tial de­vel­op­ment in lo­ca­tions like Kutham­bakkam, Chem­baram­bakkam and Poona­mallee in west Chen­nai

Chen­nai Metro Rail will sig­nif­i­cantly ben­e­fit lo­ca­tions closer to the metro sta­tions viz Vada­palani, Ashok Na­gar and Metro Rail Phase-I is ex­pected to be another mile­stone in the city’s in­fra­struc­ture de­vel­op­ment in the sec­ond half of 2014. Trial runs of the Koy­ambedu and Alan­dur lines are cur­rently un­der­way. After con­duct­ing sev­eral trial runs, the route will be opened Alan­dur.The Metro Rail will give a fil­lip to the real es­tate val­ues of the ar­eas in its vicin­ity. In other words, the hous­ing de­mand for th­ese ar­eas is likely to wit­ness a near un­prece­dented surge

The Outer Ring Road which es­sen­tially is a six-lane high­way is likely to ease traf­fic con­ges­tion sig­nif­i­cantly along the western pe­riph­ery of Chen­nai city. It will con­nect GST Road (NH 45) with the Chen­nai–Ban­ga­lore High­way (NH 4) and NH 205. This road will also serve as a cat­a­lyst for the ex­pan­sion of the city to the gen­eral pub­lic in the sec­ond half of 2014. A good de­mand for res­i­den­tial lo­ca­tions closer to the Metro sta­tions is ex­pected. Of the seven Metro sta­tions, lo­ca­tions like Vada­palani, Ashok Na­gar and Alan­dur are ex­pected to ben­e­fit the most. The re­cent col­lapse of a 12-storey build­ing un­der con­struc­tion at Mouli­vakkam in west Chen­nai has se­verely dented the sen­ti­ments of home­buy­ers and their trust in real es­tate de­vel­op­ers. In or­der to pre­vent the re­cur­rence of such events, soil test­ing has been made com­pul­sory for all un­der-con­struc­tion projects. The state gov­ern­ment has also di­rected the ap­prov­ing au­thor­ity to re­view all plan­ning and build­ing per­mit ap­pli­ca­tions more dili­gently. This strin­gent ap­proval process will af­fect smaller de­vel­op­ers more ad­versely than larger and more re­puted de­vel­op­ers. The only sil­ver lin­ing is that home­buy­ers will pre­fer to buy from re­puted de­vel­op­ers with a strong track record. How­ever, it can­not be de­nied that there would be fewer new launches in the near fu­ture due to changes in the ap­proval process.

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