Living the boom at Oragadam

From a calm, quaint and undeveloped little locality, now Oragadam proudly boasts to be the largest and well-developed industrial belt in Chennai. The Sriperambadur–Oragadam belt has seen tremendous industrial growth in about 10 years after the IT companies started finding their way to the Grand Southern Trunk Road (GST). Oragadam’s location of being sandwiched between GST and NH4 highway has been a great advantage factor for the development of this locality.  Launching of Mahindra Tech City in GST road has also created a huge impact on the prices of these properties.

Before the GST road was constructed the only fastest way of commuting to Oragadam was via train and then by a local bus. But once the GST road and the Bangalore-Chennai highway got completed, the commute to Oragadam became faster and easier. Now with the huge Oragadam Industrial Corridor Road, the locality is likely to get a new facelift. The roads around this locality were re-laid and made to suit the growth of the locality. With Oragadam being at a good proximity to GST Road and Sriperambadur, people working in companies, industries and factories on either places are able to take advantage of the location. The locality, known as the biggest automobile hub in South Asia, is one of the fastest-growing suburbs of Chennai and is evolving into a multi-faceted industrial zone. This has made a huge impact on infrastructure. Oragadam along with Sriperambadur has seen major investments from foreign companies in recent times. Oragadam will soon become one of the largest Automobile hubs in the world. International Automobile majors like Daimler, Renault–Nissan, and Komatsu have set up their car manufacturing plants here and will use it as a base for sourcing for their international markets, apart from supplying to meet the fast-growing Indian market.

Many developers have come up with multi-storey apartment complexes to help the area develop. While some promoters offered apartments for sale in Oragadam for less than 10 lakhs, it attracted some amount of public response but the critical response from other developers led them to take down the offer. Oragadam though we claim is such a prime belt of development, offers affordable housing when compared to other homes for sale in Chennai. Even though prices are more affordable as compared to the city Centre, lack of infrastructure is keeping the end users away from settling here. Demand is driven by investors or those who are working in the industrial and manufacturing units. Thus end users are not showing much inclination towards buying a property unless they are working in the locality.

Development of social and physical infrastructure in this locality will add more value to the properties herea. Several residential projects are underway in the locality but at present the demand in the locality is largely driven by long term investors and by those seeking rental returns. End-user market are still little hesitant about going to this locality currently because though affordable and neat the locality does not offer any weekend getaway or relaxation joints.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s