The increasing demand for space in the city and long hours of travel from the work place has led many families and IT professionals to relocate to Old Mahabalipuram Road (OMR). With numerous residential projects coming up near work and the additional amenities available at affordable prices here, apartments in OMR are finding many takers.
Suganthi Justin, a resident of Navalur, relocated from Besant Nagar to OMR as her husband’s office is closer. “Our house is now at a walkable distance from my husband’s office. It automatically reduced travel time. Buying a house in OMR was also an investment as the cost, in comparison to houses in the city, was less and developers provided more space. The houses are not clustered and there are extra amenities like a jogging track, swimming pools and gyms which played an important factor while buying this property,“ says Suganthi.
Like Suganthi, there are many families that have relocated from various parts of the city to areas like Kelambakkam, Thuraipakkam and Sholinganallur to name a few.“People from areas like Ambattur, Anna Nagar and Kilpauk are also moving south as their offices are located close by and good healthcare services, malls and educational institutes are available nearby ,“ says Chitty Babu, Chairman and Managing Director, Akshaya Homes.He adds that not only Chennaiites, but people from other places who work in the IT sector are buying houses in OMR.“While searching for apartments, people check if amenities such as multi-purpose halls, theatres, jogging, gyms and swimming, to name a few, are available and then decide,“ he adds.
Not only is the demand for property catching up in OMR, the area has witnessed a corresponding rise in demand for houses on rent. Bachelors choose to rent apartments with friends and colleagues instead of buying an apartment.“I relocated to OMR about a year back when a friend offered to share his house located near office with me. Not only did it cut down travelling time, I also got more space,“ says Nithyanandan Sunderesan, an IT professional. He says while the houses cost almost the same as in the city, there are more amenities. “I know so many people, who were staying in the city, who relocated to OMR due to the cost benefits,“ he adds.Ashok Kumar, a professional working in OMR, says finding apartments for rent is not a hard task. “Quite often people give their apartments for rent as they don’t live there. Not only are they affordable, but they also have facilities like departmental stores and hospitals close by,“ says Ashok.
Speaking about the rental trend, N Hariharan, director, Cushman, says there are many queries about rental residential properties from families and bachelors who have to relocate for jobs. “As bachelors don’t want to invest on a home, they search for a place near their office as travel time is reduced. The demand for rental residential property is mostly in Navalur and Sholinganallur as the supply is greater there and prices are affordable,“ says Hariharan.
Source: Times Property, The Times of India, Chennai