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Apartments for Sale in Outer Ring Road Chennai set to Boom

Chennai is identified as a significant city in the 2010 Global ranking. Recently, the city has been recognized worldwide based on numerous aspects such as infrastructure, economics, cultural influence, connectivity and so on. One of the major aspects that influence the development of the metro is its connectivity. With this view, the state government laid the foundation stone for a major road called Outer Ring Road Chennai. It became a major property hub of the metro with its inauguration by Tamil Nadu CM recently. Over few years, the area has become a rewarding destination. One can also witness many real estate activities in these locations these days. Buying 2 BHK apartments for sale in Outer Ring Road Chennai has progressed as a better option with its close vicinity to commercial hubs that are located on the outskirts of the metro.

The opening of this stretch has led to better connectivity to all parts of the metro. This has certainly resulted in the rising demand and supply of both commercial and residential assets in ORR Chennai. This stretch has been planned with massive infrastructure developments by the government and space for such developments like hospitals, warehouse, green space, logistic park, multiplexes, hotels, retail outlets, automobile industries and lots more are also allocated. Builders would be selected through open competitive bidding for these projects.

Flats in Chennai Outer Ring Road ensures future Appreciation

The main objective of this mega project is to be an alternative road for the city’s development and also to decongest traffic in the city. As per the plan, the civic corporation opened the phase-1 of this stretch and paved way for future development. Once the operation begins, the state government commenced phase-2 construction of ORR Chennai. In future, there are plans for the development of another transport link such as monorail and rail networks along the area. With proper connectivity and growth, cost in this stretch will be escalating greatly.

At present, property price in the 400 feet Outer Ring Road Chennai are reasonable, so end users should gap this opportunity and make their investment at Amarprakash properties. Spending Rs.30 to Rs.40 lakh for Amarprakash homes will be worthy because appreciation is expected to record about 50% after a year. The area not only contributes more value returns for the buyers and investors, but also gives rental assurance. Hence, purchasing flats for sale in ORR Chennai would give guarantee for monthly rent of about Rs.12000 for a 2 BHK apartment and Rs.15000 for 3 BHK flat. Unlike, other buyers and investors, Chennai ORR has driven even the attention of Non-resident Indians (NRIs). This is because the particular stretch in all cities like Hyderabad, Bangalore etc has already registered great appreciation, so experts say ORR in Chennai would also record the same result with regards to appreciation. Proximity to IT hubs and center parts of the metro is another factor for the investment made on Amarprakash properties.

Apartments in ORR Chennai opens new door for Real Estate Growth

Commercial market is slowly picking up growth and is expected to grow further with the establishment of major multinational companies. When we consider the locations like Tambaram, Pallavaram, Chrompet etc, these areas registered its growth only after the commencement of giant companies and industries. ORR in Chennai will be best suited for commercial developments since good connectivity to suburbs and prime areas would act as the key factor. A satellite commercial hub has been designed for progress along the road. CMDA has allocated around 750 acres land space for launching commercial corridors at Chennai ORR. The government is keen on promoting such developments along this secondary master-planned road.

Additionally, the area also aims to embrace new commercial belt and few more locations along the stretch have been planned to house real estate growth. High demand for apartments in ORR Chennai for sale is witnessed since the new hub is more likely to develop into a secondary business hub of Chennai. With ORR promised to be a major hub for commercial growth, the location could be converted into a well developed residential corridor in future as promised.