Metro Rail will help Chennai expand faster and grow like Mumbai, Bangalore and Pune, since road connectivity alone will not be enough to decongest the city, say builders.
Infrastructure and rail network must grow together for people to move out of the city, according to S. Sridharan, Secretary, CREDAI, Tamil Nadu. He was speaking to The Hindu after the inauguration of the 10th edition of The Hindu Property Plus Living Spaces 2015 at the Chennai Trade Centre at Nandambakkam on Saturday.
“Development around Mumbai extends up to 60 km because of the rail network,” pointed out Sandeep Mehta, managing director, Jain Housing and Constructions Ltd.
D. Pratish, managing director, VGN Developers, says that unlike in Mumbai, where there is a scarcity of land, Chennai’s growth has been up to Thiruporur on OMR and up to Chengalpattu on GST Road.
Around 45 builders with properties from Rs. 25 lakh to Rs. 5 crore are showcasing apartments, villas, row houses and plots at the two-day event that will be on till 8 p.m. on Sunday evening.
R. Manoharan of Ruby Builders said many buyers were looking at the Rs. 20 to 40 lakh properties in the immediate suburbs.
K. Srinivasan, branch manager, Sundaram BNP Paribas Home Finance, said a lot of first-time buyers were looking at properties between Rs. 35 and Rs. 50 lakh.
R.A. Puram resident R. Kadirvel said he was looking to buy a plot and construct a house since he wanted space around his house. “I live in an apartment complex right now. I am looking to move outside the city to places like OMR or ECR,” he said.
Ashok Nandavanam Properties had showcased their plots at Avadi, Porur, Tirumazhisai, Tiruvallur; Bhaggyam Construction that has properties at Karapakkam, Mylapore and Pallavaram is looking at offering a department store and medical outlet as part of the amenities; Newry is offering discounts on its ready-to-occupy property at Anna Nagar West and also its soon-to-be-completed Nungambakkam project; Jain Housing and Prince Foundations had offers whereby buyers could pay 10 to 20 per cent in advance and the remainder when the property is handed over.
The event was organised in association with Roof and Floor.
