Patches of greenery and open spaces along this important road are an indication that fertile lands once covered this area. The sprawling lakes adjoining these open spaces offer a wonderful sight to people taking a drive along this road that connects three of the most important arterial roads of the city.
The greenery is all set to give way to massive housing, industrial and commercial complexes considering the demand here, on Pallavaram – Thoraipakkam Radial Road.
A strategic location, easy access to transport hubs and instant connectivity to three of the key arterial roads of the city has made Radial Road an ideal destination for developers and property hunters alike. Market analysts feel that the best-kept secret about this stretch is that it is an integral part of the city despite running through suburban pockets. Its pricing is also a key factor considering its location and close proximity to Rajiv Gandhi Salai (Old Mamallapuram Road/IT corridor), East Coast Road and Grand Southern Trunk Road.
The corridor has huge potential as it is well connected to both the growing office market on OMR and GST Road. Secondly it’s still affordable for the mid-segment buyers. It is also in close proximity to renowned educational institutions, hospitals and retail hubs.
Representatives in the housing industry disclose that by modest estimates, nothing less than 2,500 flats are under construction across the stretch and were likely to be taken possession of beginning from the middle of next year. Anticipating realty development along this sector more than a decade ago, a number of players had purchased vast tracts of land at rock-bottom rates then.
The road witnessed an increase in traffic only after the completion of the bridge linking it with GST Road. The introduction of Metropolitan Transport Corporation buses giving it direct access to Tambaram, Pallavaram, Velachery and Tiruvanmiyur among other locations makes it easy for working professionals to reach their offices.
PALLAVARAM THORAIPAKKAM RADIAL ROAD:
Length: 11 km
Created in 2000 by State Highways Department at a cost of Rs. 12 crore
Connects Grand Southern Trunk Road in Pallavaram and Rajiv Gandhi Salai (OMR) in Thoraipakkam.
Intersects Medavakkam Main Road at Eachangadu and Velachery Main Road at Pallikaranai.
Average market rates of flats along Radial Road:
a) Budget apartments: Rs .4,800 - Rs. 5,200 per square foot
b) Premium apartments: Rs. 5,200 - Rs .6,200 per square foot
c) High-end condominium: Rs. 6,500 - Rs.7,200 per square foot
Advantages: Close to Chennai Airport, Pallavaram and Chromepet suburban railway stations and Velachery MRTS station.
