East Coast Road (ECR) connects Chennai to key cities such as Cuddalore and Puducherry. It is also a vital connecting link for the southern suburbs of Chennai and a host to several residential and commercial hubs. The area has attracted many home-buyers and investors in the past few years. ECR boasts of well developed social and physical infrastructure.
The closest railway station facilitating commuters is situated in Velachery, taking them from ECR to other key locations. Its proximity to the railway station and airport is another reason home-buyers prefer to buy in this locality. Connectivity to locations where employment opportunities are growing is one of the key factors influencing the real estate market here.
Owing to the serene environment and easy connectivity, this locality has gained popularity as a high-end residential destination. The residential market along ECR is mostly dominated by plots and villas. Property prices here range between Rs 4,000 and Rs 7,600 per sq ft, whereas rentals are in the range of Rs 15,000 and Rs 25,000 per month.
The ECR is being touted as the growth corridor of Chennai. As per reports, the Railway Board has allocated Rs 1200 crore for the 179.28 km railway line, connecting Chennai and other towns around ECR. The Puducherry government has reportedly begun the process of freezing land for this project.