KK Nagar is one of the most well known areas of Chennai, which has been showing a marked growth over the years. Starting from the 1970s, when it was established, the area is well connected to other parts of the city. A prime locality in south Chennai, the nearest railway station from KK Nagar is in Mambalam and it is 10 km away from the airport.
N Sridhar, senior manager, Ramaniyam Builders, says, “Wide roads and relaxed traffic has been one of the highlights of KK Nagar but the flow of traffic here has increased in the past few years,“ says Sridhar, who feels that if problems related to sewage facilities in some pockets are taken care of and if commercial housing gets a nod of approval here, the neighbourhood has the potential to grow more and may even beat Nungambakkam and T Nagar.
Old-timers have a very different image of KK Nagar to share.“It was likea small village when I bought land here in the 1980s.Back then, it was hard to go out for a walk late in the evening but now, it is well-lit, with spacious roads. The Sivan park has got a facelift now and it is a pleasant experience going for a walk there,“ says Kanakangi, a resident of KK Nagar.
KK Nagar is at the cusp of a transformation today. Redevelopment of existing housing blocks has picked up momentum in KK Nagar, whereby, older housing board units are being replaced with multistoried apartments, with better amenities. “Old bungalows and residential societies are being redeveloped into newer apartment projects. Prominent among these is Tamil Nadu Housing Board’s (TNHB) construction of over 500 multistoried residential flats for both low income group (LIG) and middle income group (MIG) near the KK Nagar MTC Bus Depot and ESI Hospital. In the last two years, many established real estate developers have launched low rise residential apartment projects in KK Nagar. Most of these projects are targeted at the MIG category and come with a host of amenities,“ says N Hariharan, head, Commercial Agency, South, Cushman & Wakefield. These factors have not only helped the area get a facelift, but also made it an attractive option for home buyers. It helps that KK Nagar has a very good social infrastructure, with educational institutions, hospitals, places of worship and parks.
Sridhar says that currently, the average capital values for properties here range from 11,000 to 12,000 per sq ft. The rental housing cost ranges between `7,000 to `30,000, making it suitable and favourable for all segments of people to live in.
KK Nagar has been an established residential micromarket in Chennai. “Despite the increase in traffic over the last few years, this locality continues to enjoy the status of a preferred residential neighbourhood,“ says Hariharan.
Source: Saivinai Cheithanya R, Times Property, The Times of India, Chennai