Chennai – The long awaited Alandur Airport metro line is nearing completion, making Alandur the next area in the city to watch out for.The soon to be operational, Alandur Airport metro line, has become the talk of the town. The nine-kilometre stretch will prove to be a boon to commuters who otherwise battle congested roads on a daily basis.Not just that, it will bring in a barrage of positive changes for Alandur.
Once the metro line becomes operational, the real estate market is expected to get a fillip. Alandur serves as an urban residential node in Chennai and enjoys proximity to IT hubs located off the Grand Southern Trunk Road. It is close to the Chennai International Airport, which is located at approximately 6 km distance via National Highway 45 and the nearest railway station from the area is the St Thomas Mount Railway Station.
Venu Gopal, a property owner in the locality says, “Alandur is a very good locality in Chennai that caters to the housing demand from the nearby IT hubs.It also has a sound social infrastructure with hospitals, banks, schools and other day to day convenience stores in place, which makes it is a good locality for families and working professionals.”
Investment in Alandur
Earlier, people with a modest budget could opt for Alandur. However, property prices in the area have increased. According to Magicbricks data, property prices range from Rs 34 lakh Rs 2 crore and above, with the size range of housing units varying between 546 – 4000 sq ft. Although the most common property configuration found in Alandur are the 2BHK units, with property like apartments, builder floors and studio apartments available in the locality, buyers have enough options to choose from.
Resident welfare association
The Resident Welfare Association (RWA) of Alandur seems to be an active one that is constantly working on the problems affecting the locality.
Some of the pressing issues include ration card issuance, introduction of new bus stops, pattas and other related land documents, connecting Pazhavanthangal subway with Fifth Main Road, Nanganallur and the de-silting and deepening of Adambakkam Lake.
Why should you invest?
The rate and reviews section of Magicbricks indicates that residents and property owners rate the locality a 4.2 out of 5 in terms of the environment it offers, the availability of commuting options and the social infrastructure.
Another reason it is a good option for investment is that property prices as stated by the quarterly Prop Index (Jan-Mar 2016) by Magicbricks seems to have fallen.
What potential buyers should watch out for is the water crisis in the Alandur zone Pazhavanthagal, Nanganallur, Alandur and Adambakam. The situation worsens during summers. If this problem is addressed, Alandur will become a hotspot.
Pushpa Rawat, Times Property, Magicbricks Bureau/ Chennai