Infrastructure projects, especially related to constructions play a vital role in shaping the future of cities, states and individuals living there. That’s because such projects have the potential to transform entire country’s GDP and economic landscape. In India, Chennai is one such city to reach new heights in developing amazing infrastructure projects including huge tunnels for transport, flyover to cover distance, metro rail for convenience and many other projects achieved their initial purpose and have inspired plans for new ones.
Several proposed infrastructure projects across Chennai are hugely responsible for a stir in real estate market. With property price getting appreciated and city limit expanding, all touted positive growth for the city. Not only infrastructure projects improve connectivity of a region, but also push commercial and industrial development for further generating employment. This in turn augments demand for both property dealers and buyers. Here are few Infrastructure projects from Chennai that are crucial in forming city’s real estate sector.
CMRL – Chennai Metro Rail Limited
Chennai Metro is the key factor for the growth in the suburbs of city. The seamless connectivity provided by the Chennai Metro Phase I have improved the way of transit from one end to another. Phase II of Chennai Metro will have three corridor and 104 stations.
To enhance connectivity within North Chennai there will be a massive depot build at Madhavaram Milk Colony for maintenance of metro stations. This will lead to considerable appreciation in prices for flats in Madhavaram, Perambur and others places.
Satellite Bus Terminus in Madhavaram
Satellite Bus Terminus in Madhavaram is one of the most interesting infrastructure project that caught attention of real estate investors. The terminus is set to come in Madhavaram in near future to lessen traffic congestion and improve connectivity around the city.
Covering about 8 acres and a capacity of handling 200 buses per day, buying home in Madhavaram will be really convenient for people after completion of bus terminal.
Chennai International Second Airport
The Second International Airport of Chennai at Sriperumbudur is a project taken by Airport Authority of India and will be completed in next three years. An investment of 20,000 crore will be made in the second Chennai Airport, which will be handling more than 23 million passengers annually. Airport area is proposed to build on 4,823 acres in Sriperumbudur, and 3.500 crore to be invested in first phase. The main aim of the second airport is to manage heavy traffic coming from Chennai airport and encourage home buyers near airport area.
6-lane Vandalur Flyover
6-lane Vandalur Flyover is an under-construction infrastructure project developing to segregate local traffic and vehicles coming from southern districts. It will be a multi-land flyover over the junction of Grand Southern Trunk Road and Vandalur-Kelambakkam Road where over lakhs of passenger car units cross the junction per-day. This flyover will be a major relief for people residing underneath the road and will also boost residential projects in Potheri, Guduvanchery and nearby areas.
Porur Flyover is another infrastructure project that tempted real estate investors. This flyover will ease the all-time traffic problem at Mt Poonamallee and Arcot Salai road. Commuters will gain quick access to city, especially people working at Jayanth Tech Park, TCG IT and DFL IT Park. You can expect heavy price appreciation and demand for homes in West Chennai such as Porur, MT Poonamallee and Maduravoyal.
These upcoming infrastructure projects in Chennai will entice prospect for any home buyers to buy a flat in various region of the city.