Proximity to schools will mould the success of residential project

Several new projects, particularly townships and large residential complexes, announced in suburbs around Chennai now come with a promise of proximity to schools. Builders are slowly recognising that along with infrastructure home buyers are also looking at factors such as time spent on commuting. Thus, if earlier residential projects were sprouting around IT complexes now schools have followed suit.

Cee Dee Yes’ Chennai Pattinam, an integrated township off OMR, has the CBSE-affiliated D.A.V Public School within its campus. Akshaya Homes’ recently launched Today project will see the builder Chitty Babu venture for the first time into the area of education with Ákshara kindergarten school within the township. “We have been thinking about getting into other areas such as hospitals and schools for a while now and with this venture, we are taking a step towards that goal,” said Chitty Babu at the launch of the project recently.

Having an established school within their campus or even in close quarters not only lends realtors credibility but also ensures a spike in the rates. Manzer Hussain, COO, Hirco says, “I would go one step further and say that having a school in the vicinity of a project adds to the comfort and trust of the homeowners which, in turn, adds to the value of the project in the long run.” Hirco’s project in the outskirts of the city, Hiranandani Palace, will have an international standard school that is under development now. “We are in talks with various boards to set this school up,” adds Manzer. Along with physical infrastructure, social infrastructure is an important requirement in the long run. As more people start investing in the suburbs, it will start becoming an important consideration for the townships to grow.