CHENNAI: Located in southern part of Chennai, Chromepet is gaining popularity in terms of real estate investment. Experts say that the destination assures returns. So, what makes it a preferred destination? Some reasons why one should invest in the locality are:
Social and Civic Infrastructure: The area enjoys good civic and social infrastructure that positively impacts the real estate in Chromepet. “The opening of the State Highway 109 also called the Pallavaram-Throraipakkam Flyover has provided easy accessibility to neighbourhood localities such as Tambaram, Pallavaram and Thoraipakkam,” says Alaguselvan, Proprietor, Realty Bizz. The locality is surrounded by premium institutes such as Sree Balaji Medical College, Tagore Arts and Science College, IRT Polytechnic College and Madras Institute of Technology. Apart from this, the locality is famous for its busy commercial high street bustling with activity. The Government General Hospital, Sree Balaji Medical College and Hospital, Parvathy Hospital and Chromepet Government Hospital are some hospitals in the locality.
Connectivity: Located along the Grand Southern Trunk Road (GST Road), the locality is close to Tambaram and next to Pallavaram offering excellent connectivity to the city centre. Apart from this, Chromepet is about 5-km from Chennai International Airport and the Tambaram Railway Station. It is just 2-km from Chrompet Railway Station which provides easy accessibility to other parts of Chennai. Chromepet is connected to the city of Chennai by public transportation services including the electric train service. “There is a bus stand in Hasthinapuram, a neighbourhood on the eastern side of Chromepet Railway Station,” says M Swaminathan, a local real estate builder and broker.
Price: The locality offers ready-to-move-in apartments in the affordable range when compared to other localities of Chennai. The current prevailing prices in the locality are Rs 3,500-4,500 per sq ft, whereas neighbourhood areas offer housing units starting from Rs 4,500 per sq ft.
New projects: A number of new projects are coming up in the area. SBR Avanti by Silicon Realty Ventures Private Ltd, Temple Waves and The Royal Castle by Amarprakash Developers, Centralia Apartments by Landmark Constructions, Lakshmikripa Phase II by Agni Estates and Foundations Pvt Ltd, Navarathna by Mantri Developers are some of the new projects.