The agricultural area located opposite Ajith Singh Nagar and between the New Rajarajeshwari Pet and PNT Colony on the outskirts of the city is likely to be the new residential colony of the city.
The area, which was sparsely inhabited, is now a most sought after destination for realtors as well as people looking to own a home in the city.
In the aftermath of bifurcation, most of the suburbs except the Singh Nagar area were explored by realty developers. Being spread around the city’s dumping yard and without proper road connectivity, Singh Nagar failed to attract property developers and buyers.
However, the recent opening of the long-awaited Inner Ring Road for traffic and putting an end to the traffic issue on Singh Nagar flyover with a service road beneath it improved accessibility to the area and city besides highways.
Early bird realtors who jumped into action checking on these developments already converted several agricultural fields into plots and apartments. They are now being sold at a price equal to the apartments in the capital region. Other realtors are following suit now.
Realty prices up
Dozens of apartments and group houses which came up recently in the locality were sold off at a whopping price of Rs.35 lakh to Rs.60 lakh depending on various factors.
“A double bedroom flat in apartment located close to main road is being sold for Rs.40 lakh to Rs.45 lakh currently. There is lot more to happen in the future as many realtors are coming forward to raise apartments and ventures here”, said E. Kishore, a local realtor.
“There are many families looking forward for a home in this location now, though this was least preferred area by families once. Few apartment builders even came forward and laid a few blacktop roads for the sake of their clients”, said a local K. Manoj.
The road leading to New Rajarajeswari Pet area from Singh Nagar is the most chosen one currently. A square yard of land is being sold between Rs.25,000 and Rs.35, 000 in the same area.
