The expansion of residential housing and growth of industrial activities has defined the growth of Chennai. Like many areas in the city, Nanganallur too has been witnessing growth and development over the years. Known as ‘Little Kanchi’ due to the numerous temples located in the vicinity, Nanganallur offers a variety of residential choices for investors in the city. About five years back, the area showed a different picture. “The main factor behind the development of Nanganallur is Chennai’s booming IT business and the setting up of IT parks in the suburbs. It is located very close to Guindy and Velachery. The inner ring road connects Naganallur to Velach ery, making connectivity easy,“ says Aadarsh Surana, managing director of Amar Prakash Builders.
Transport facilities have played a key role in the development of the area. With regular buses available and developed roads, the area is easily accessible. “Given its proximity to the airport and a well developed road and rail network, Nanganallur is easily accessible from central areas like Velachery and OMR,“ says Arun Kumar, managing director and founder, Casa Grande. “As a metro station is coming up near Alandur, it will automatically boost the prices of the properties by 20 to 30 per cent, “adds Aadarsh.
Chitra Govindarajan, resident of Nanganallur, shifted to the locality over 16 years back. “I decided to move here as my ancestral home was located here. Back then, the area hardly had any retail or residential activities, apart from a few activities related to the numerous temples here. But in the past few years, development has picked up and more schools, hospitals, colleges and banks have been set up in the area. It needs to be developed further,“ she says.
According to R Kumar, managing director of Navin Housing And Property Pvt Ltd, Nanganallur is a very good residential and commercial hub, with the availability of basic amenities like a good shopping area for people living in the neighborhood. “Nanganallur has developed to such an extent that it can be compared to areas like T Nagar and Mambalam,“ says Kumar, who believes that in the near future, transportation and infrastructure are expected to develop here. “The quality of life is likely to improve with the growth in residential areas and the expansion of commercial activities. It is predicted to remain as a good residential hub and not turn into an industrial place,“ he adds.
Malika Ravi, CEO of Lancor Holdings Ltd, feels that being situated on the Grand Southern Trunk Road (GST), makes Nanganallur a preferred location for buyers, who choose apartments over individual houses or villas in this area.“As it is located in a central area, the land prices are high.Thus, apartments see the highest demand here. There are a lot of NRI investors who are looking at Nanganallur as an investing option,“ says Malika. The prices in the locality range from `8000 to `9,000 per square feet.
Divya Narayanan, Times Property, The Times of India, Chennai