Are you working in Velachery and unable to afford to buy property in the locality? Thoraipakkam, the neighbouring locality, may fit your pocket. Located in South Chennai along the IT Expressway, it is about 7 km away (15-20 minutes drive) from Velachery and offers comparatively affordable property prices.
According to Magicbricks data, the average capital value for an apartment varies from Rs 4,600-7,000 per sq ft, whereas, in Velachery the values are Rs 6,700-7,500 per sq ft. Since it is located on the IT Expressway, majority of the demand is from the IT professionals working in Velachery. This has also pushed up the rental market here.
The data shows that one can find a 2BHK unit at a monthly rent of Rs 15,000, while a 3BHK with semi-furnished features, is available between Rs 20,000-30,000 per month.
Thoraipakkam is one of the preferred residential locations in Chennai today. This was evident on Open House – a discussion forum by Magicbricks, where users posted queries asking for investment potential of the area. Apart from affordability, Magicbricks brings few more reasons for why you should invest here.
Infrastructure and connectivity
The locality, situated along the OMR (Old Mahabalipuram Road) has developed and wide roads that ensure easy traffic flow. The locality is connected to the Grand Southern Trunk Road (GST) via the Thoraipakkam-Pallavaram Radial Road.
This road, running east to west, connects the IT corridor and the GST Road making Thoraipakkam well connected to the airport, especially after the opening of the flyover (ROB) at the western end of the radial road. This plays a significant role, enabling smooth movement of traffic between the major arterial roads to South of Chennai, including GST Road, Tambaram-Velachery Main Road and Old Mahabalipuram Road.
While the radial road ensured that the airport is just 30 minutes from Thoraipakkam, the rail connectivity with Velachery and the TIDEL Park Railway Stations, situated roughly at a distance of 5-6 km on each side of Thoraipakkam, offers working professionals to commute via train too,” informs Dinesh Kumar, partner, AGP Homes.
Type of properties
The area offers 2 and 3BHK apartments in sizes of 1150-1700 sq ft, along with some villas also. “One can get a villa for about Rs 8,000 per sq ft today. Way back in 2010-11 when the land rates were much lower, the villa culture had become popular among developers and buyers, giving momentum to the villa development. IT professionals at senior designations prefer to buy villas,” says Kumar.
Social Infrastructure
“Apart from local buses and public transports, the area is well equipped with social infrastructure such as schools, banks and ATMs. Thoraipakkam has some of the best schools such as the Ramayan International School and APL Global School among others,” says Shabeer Khan, a local real estate consultant.
Medical facilities are also available in abundance as a number of hospitals are present in the area. For food lovers, the area has some of the renowned brands such as KFC, Mainland China, Sangeetha Hotel etc, that dot the landscape of the area.
Source Times of India Chennai / Neha