Outer Ring Road Chennai is the most important multi-model transport corridor running about 62 Kms in length and connecting the peripheries of the metro. The government has reserved some land space for the facility of rail service aside 400 ft road developments. After a long wait, the phase-1 of 400 feet Outer Ring Road Chennai has been inaugurated by Hon’ble chief Minister Jayalalitha. The road will run via Nazarathpet on NH 4, Padayanallur on NH 5 and Nemilicherry on NH 205. The government earmarked spaces for commercial, non-polluting industries and residential developments along the stretch. These developments are the key factors for the apartments for sale in Outer Ring Road Chennai.
The tender for ORR project has been bagged by GMR group. The formation of the stretch is carried out on the model of Build-Operate-Transfer over 20 years. In that 20 years, 2 and half years is allotted for the development of the road and the remaining 17.5 years for the maintenance of Chennai ORR. During this contract, the government will provide the initial concession and also regular payment for every 6 months till the completion of twenty years. The Tamil Nadu Road Development Company Limited (TNRDC) had been selected for the post of Managing Associate for this project.
Flats in Chennai Outer Ring Road contribute to Real Estate Growth
A satellite commercial hub is likely to be constructed along the stretch connecting Minjur in the North and Vandalur in the South. Within short period, the road is going to see huge commercial growth along with residential developments. The CMDA is promoting Chennai Outer Ring Road along the border in order to reduce congestion in the city and the road comprises a rail and road corridor. By easing the traffic flow along the western regions of the metro, industrial hubs along the stretch will be developing greatly. This led to the increasing cost of apartments in ORR Chennai for sale.
In the coming future, ORR will be fueled with growth as one of the fastest growing commercial hubs. The entire stretch will be noticed with significant residential and commercial developments in addition to be the home for SEZ developments. Once both phase-1 and phase-2 become operational, the price of 3 BHK flats in Chennai Outer Ring Road will be registering more than 200% appreciation. With the completion of phase-1, the appreciation in these surrounding areas will be increased to 20%. Recently, phase-2 work on the ORR stretching to Minjur from Nemilicherry has begun.
Apartments in ORR Chennai for Sale see Greater Appreciation
Together with the completion of phase-1 and phase-2 of ORR, property market in the city will be skyrocketing in this stretch while other prime areas were facing dull phase. Over last 3 years, OMR registered 100% appreciation while on the other hand, appreciation of 2 BHK apartments for sale in Outer Ring Road Chennai registered more than 200%. So, expert’s advise people to invest in this area before the property cost goes out of the pocket. You can find the most luxurious Palm Riviera project and the most royal project named The Royal Castle developed by Amarprakash at close vicinity to this road. 2 BHK flats in Chennai Outer Ring Road are readily available at The Royal Castle. As per the old proverb ‘Make hay while the sun shines’, one need to invest in ORR road Chennai while it is knocking the door.
Properties in Outer Ring Road Chennai
ORR in Chennai is the talk of the town in the real estate circles, today we see many builders began to focus on buying the property to build apartments or flats in orr Chennai to capitalize the current market value . Besides, the home seekers who have missed out an opportunity to buy property in Chennai in the past are looking to buy flat for sale in orr Chennai or apartments for sale in orr Chennai.
As we understand the requirement of the home seekers, we have constructed our residential projects very close to 400 feet outer ring road Chennai. Our residential gated community residential projects in orr Chennai comprises of studio apartments, duplex apartments, budget homes and more choices of homes according to requirements and budget of the property investors. With the close proximity to ORR Chennai, our residents can avail the joy of connectivity to the major places of the metropolis. Further, our gated community project in ORR Chennai has the world-class amenities for the residents. Therefore, the occupants of our residential project can get all their essential needs at their door step. If you are looking for properties in Outer Ring Road Chennai, our residential property in ORR Chennai is the ultimate choice to make an investment in 400 feet outer ring road Chennai.
As ORR Chennai will function as the major transportation corridor in the metropolis, the neighboring areas will certainly witness further infrastructure and commercial developments. Eventually, the capital appreciation of the residential properties in ORR Chennai will increase further in the subsequent years. Thus, buying properties in Outer Ring Road Chennai is the smart choice for property investment in the metropolis. Moreover, the rental value for the residential properties in ORR Chennai is also high, as these has properties provides good connectivity to the major industrial corridors and IT hubs. As a result, the requirement of residential properties in ORR Chennai is high among the working professionals. Thus, buying a property in ORR Chennai will make the property investors to gain more profit. On considering these advantages of ORR Chennai, we have built the residential properties in Outer Ring Road Chennai.