Why the Chennai-Salem Expressway Project is Big News for TN Real Estate
In what could be one of the biggest projects in the country, the Chennai-Salem Expressway could spell sustainable economic development in Tamil Nadu. The Expressway aims to connect the industrial regions to the Special Economic Zones.
The Chennai-Salem Expressway is projected to be over 274 kilometers long. With a project this ambitious, how will it impact the real estate in surrounding areas? Here’s a breakdown of all the details:
The Chennai-Salem Expressway: Present Developments and Objectives
The Chennai-Salem Expressway has been in the works for a while now. In 2021, the National Highway Authority of India requested the cooperation of the local district collectors. The district collectors were asked to complete a social assessment study and prepare a detailed report on how the project could affect the environment.
One of the key objectives of this project is to usher in progress in the Chennai and Salem districts. The plan is to create an
eight-lane access controlled Greenfield project. This will connect important districts in Tamil Nadu such as Kanchipuram, Tiruvannamalai, Chennai, eventually leading to Salem.
The Chennai-Salem Expressway will consist of an eight-lane access controlled Greenfield project. A massive budget of ₹10,000 crores has been allocated for this project.
Five sections that will see rapid developments are as follows –
- Polur to Tiruvannamalai Section (NH-38)
- Harur to Salem Section (NH-179A)
- Semmampadi to Chetpet Section (HN-179D)
- Tambaram and Harur Section (NH-179B)
- Chengalpattu to Kancheepuram Section (NH-132B)
Why is it such a big deal?
The Chennai-Salem Expressway Project will usher in a new era for the Chennai and Salem districts. It will lead to the development of both social and physical infrastructure.
One big change will be the creation of jobs along the Expressway. It will be connecting the automobile hub of India (Chennai) to the textile hub of India (Salem). The Chennai-Salem Expressway will reduce the travel time between these districts by 2.5 hours from the present 5-6 hours. It will create more opportunities for collaboration between the two industrial areas and open up new possibilities.
How will it impact real estate?
Additionally, the construction of the Chennai-Salem Expressway will boost the real estate market in the surrounding regions. By creating new opportunities and connecting major cities, it will lead to both residential and commercial growth in Tamil Nadu real estate.
This includes residential plots along the Expressway and commercial boom in the form of physical infrastructure. Furthermore, the government has planned several key projects like the Thambaram-Chengalpet Elevated Corridor and the Chennai Port-Maduravoyal Expressway to boost Tamil Nadu real estate.
Conclusion:
Disputes holding the project back
Needless to say, a project this big attracts a few disputes and red tape. One of the biggest concerns is land acquisition as the project requires 2,971 hectares. This includes shares of agricultural land, residential areas and community land. Moreover, some of the corridors will cut through major reserved forest areas across the Chennai and Salem districts.
Both farmers and environmentalists have joined hands against the development of the Chennai-Salem Expressway. While the authorities have promised to resolve the issue, any real impact is yet to be seen.
That being said, the project will become an important part of the socio-economic fabric of Tamil Nadu. It is an attractive opportunity for real estate enthusiasts, particularly in the light of the recent pandemic losses. Tamil Nadu’s realty could be greatly affected by the development of this project.
The Bottom Line: Limelight on Tamil Nadu Real Estate
One can conclude that the Tamil Nadu government is collaborating with the centre to bring Tamil Nadu real estate into the limelight. With the backing of these authorities, major plans have been announced to create real estate opportunities in the state, especially in the last three years.
If executed properly, the Chennai-Salem Expressway could change the narrative for the real estate scenario in Tamil Nadu. It could create opportunities in the realm of industrial growth and put Tamil Nadu on the radar of some of the most coveted real estate spots in the country.
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.
