OMR Chennai – The Next Real Estate Hotspot in Chennai
The major IT corridor in Chennai’s northern suburbs is Old Mahabalipuram Chennai (OMR). Rajiv Gandhi Salai and Rajiv Gandhi IT Expressway are other names for it. OMR is a 45-kilometer length of road lined with BPOs, IT and ITES enterprises. Numerous tech parks along Old Mahabalipuram Road, such as TIDEL Park and Pacifica Tech Park, making this area one of the most desirable for real estate development. Thiruporur, Senganmal, Nemmeli, Padur, and Kelambakkam are the neighbourhoods around OMR Chennai.
The Need For Residential Homes And Pgs In Tamil Nadu’s OMR Area Is Increasing.
February 2023: Numerous industries are already summoning their staff back to work, raising demand for residential residences and PG stays in Tamil Nadu’s Old Mahabalipuram Area (OMR). Because of the area’s excellent connection, OMR has become a popular place to stay over time. Numerous localities in and around the OMR region are gaining popularity with homebuyers, including Karapakkam, Sholinganallur, Navalur, Thoraipakkam, and Perumbakkam. During the post-covid period, rentals in the region practically fell to half of what they were before the covid, which was roughly Rs 15 to 20 thousand. Yet, rising demand has caused property prices to rise. In terms of rentals, they are practically on level with the pre-covid home pricing. Another factor contributing to OMR’s growing appeal is the city’s cosmopolitan nature. There are additional retail and dining options in the area.
OMR Chennai Connectivity
- The Ancient Mahabalipuram Road is about 29 kilometres from the Chennai International Airport.
- Old Mahabalipuram Road is also 29 kilometres away from the Chennai International Airport Metro Station on the blue line.
- From Old Mahabalipuram Road, the Chennai Central Train Station is 34 kilometres distant via East Coast Road.
- Moreover, the OMR Chennai runs parallel to the East Coast Road and links Chennai and Pondicherry.
Reasons To Purchase Property In OMR Chennai
The real estate business in Chennai is quickly rising as a result of the city’s increasing economic prosperity. It built several residential complexes and commercial centres around the city. Because there are numerous IT businesses and corporate houses near OMR, there is a high demand for residences in this area. That is why many real estate businesses provide a wide range of residential alternatives with first-rate facilities. Some of the reasons to invest in OMR real estate in Chennai include:
Affordability: As compared to other localities, the pricing of houses on Old Mahabalipuram Road are reasonable.
Transportation: The Old Mahabalipuram Road is well connected to the rest of the city via public transportation.
The improved connection benefits OMR real estate and motivates investors to invest in this area.
IT Hubs: Numerous IT hubs, including major IT brands, are located along Old Mahabalipuram Road. Because the houses in OMR are close to IT Hubs, residents can simply commute to work and save a lot of time commuting.
Ancient Mahabalipuram Real Estate
According to recent trend, the average rent on OMR Road is between INR 11 and INR 18 per square foot. The average price of a residential property for sale is between INR 4500 and INR 8200 per square foot. On Old Mahabalipuram Road, there are several business premises for rent and sale. Commercial properties are priced between INR 8500 and INR 11,600 per square foot.
Apartments or flats in various configurations are available in OMR Chennai real estate complexes. Carefully examine the floor plans of the projects and compare them to those of other real estate developments. According to the most recent trend update, around 4000 homes are available for sale on OMR Chennai.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.
