ORR Chennai set to boost Capital Appreciation by 15%

Chennai Outer Ring Road project is a major transport hub being planned along the fringes of Chennai Metropolitan Area. The proposed stretch is a 62.3 Km 6 lane road connecting NH205 at Nemilicherry, NH45 at Vandalur, TPP at Minjur, NH4 at Nazarathpet and NH5 at Nallur. The first phase of ORR road Chennai covers a distance of 30 Kms linking Vandalur and Nemilicherry while the second phase covers 33 Kms extending from Nemilicherry to GNT Road. The phase-1 of ORR Chennai has been opened by Honorable Chief Minister J.Jayalalitha on August 28th, 2014, it takes less than 30 minutes to travel from Vandalur to Nemilicherry. The phase-1 of ORR in Chennai cost about Rs.1,081 crore.

Additionally, Ms. J.Jayalalitha also laid the base stone for the phase-2 construction starting from Nemilicherry to Minjur. The proposed Chennai ORR comes as a decongestion measure to reduce traffic. Heavy vehicles particularly container lorries coming from western and southern regions of Tamil Nadu enter the metro by avoiding the routes of suburban areas. Chennai Outer Ring Road plan is designed to be the best development hub for export oriented units. The surrounding areas close to NH-45 is witnessing high growth with numerous commercial buildings. You can go through ORR Chennai map and check the areas closer to NH-45.

Automobile and component industries are noticing greater developments in areas near Ponneri and Minjur. For such development of automobile industry, 50 acres of land have been earmarked. After few years, ORR Chennai status will be in next stage said the experts. Along with this, a major warehouse has been planned in Nemilicherry and Minjur. A logistic park will soon be established along the Pattabiram road. For clear Chennai Outer Ring Road plan, one thing you need to check is to use online for viewing the Chennai ORR map.

The project has been well developed with elevated structures, illumination and wayside amenities. Experts think that around 30% of vehicle users will be taking this stretch. With these benefits, real estate along ORR Chennai is going to see heights in the coming future while other areas in the city will be seeing dull phase of growth. You can see numerous gated community projects here especially The Royal Castle, Palm Riviera etc, said Amarprakash Royal Castle review. It is a jackpot for the buyers and investors as the prices are still marching higher.

In the year 2011 during initial stage, cost of land was Rs.75 to 90 lacs per acre while now the price on Chennai Outer Ring Road project is having chance to witness more than 20% appreciation at present. Totally, the cost at the ORR Chennai is going to be tripled within short span of time. Even adjoining places like Mudichur, Perungalathur, Kundrathur etc have reaped the benefits due to this ORR road Chennai. Real estate market along the entire stretch is going to witness further appreciation with the announcement from the government soon laying a bus terminus between GST Road and ORR in Chennai near Vandalur.

After the announcement of this new bus terminus, many builders are coming for investment along ORR Chennai but Amarprakash developers be the first to construct their projects here. The Royal Castle project is also ready for handover by the end of September, 2014 with proper CMDA approval. Amarprakash Royal Castle review answered that the residents can have easy access through bus.  In the next few years, lot of commercial activities are expected t o develop in this stretch. So, one can say by seeing ORR Chennai map that appreciation in this locality will be higher than OMR(Old Mahabalipuram Road) and other interior roads of the city in the near future. From this, we can say investing in ORR in Chennai is like digging a gold mine.