Okkiyam Thoraipakkam, the up scale neighborhood lining Chennai’s very first six-lane IT Expressway on the OMR is the new address for most of the IT global giants and has gained significant importance in the real estate market. Located very close to the Pallikaranai marsh, Thoraipakkam is spread across a stretch of three kilometers, starting from Perungudi. This area has seen substantial growth in the last 10 years.Thoraipakkam has been completely included into the Chennai Corporation limits since 2011.
Vast spaces are definitely hard to come by within the city limits and this has resulted in many families moving towards the southern part of the city.“Buying an apartment within the city seemed impossible with fewer options and expensive projects. Since my wife and I work in the IT corridor, and with some of the best schools coming up in Thoraipakkam, we finally decided to relocate there. Everything is available at an arm’s reach and the prices are affordable. Now we spend less time travelling and spend more time at home,“ says Madeshwaran G, a city based IT professional.
Well connected to the rest of the city through the MTC transport services, easier movement of traffic between the major arterial roads to the south of Chennai including GST Road, Tambaram-Velachery main road and Old Mahabalipuram Road and popular towns like Perun gudi towards its north, Pallikaranai in the west and other southern suburbs in the sur roundings make Tho raipakkam an ideal place for the IT professionals and fami lies.
The IT companies operating in the area are countless, em ploying a huge population of young working profession als. This population that was once con sidered tempo rary, is now increasingly looking for residential places to settle down in the locality.“There are numerous apart ments at Tho raipakkam. Being well connected and lo cated near the IT corridor, this place is having a high de mand among buyers today.
Top class educational institu tions have made their way into this part of the city and so have hotels and hospitals. In the last five years, the population here has increased to over 20,000. Today, one ground is available from 1 to 1.5 crore and apartments are available at `5,000 to `5,500 per sq ft,“ explains Sandeep Mehta, Managing Director, Jain Constructions.
Chitty Babu, Managing Director, Akshaya Homes says, “Thoraipakkam is like the entry point to OMR and is well connected with other parts of the city. Most projects are spread across more than three to four acres of land and this kind of space is unavailable within the city. Every property has enough space to provide customers with all the possible facilities. One can enjoy a swimming pool and space for other recreational activities as well. Apartments in the locality are priced at `8,000 per sqft. Thoraipakkam will see a lot more development in the years to come as well.“
Source: Fathima Khaja, Times Property, The Times of India, Chennai