Property Development in Padur, Chennai Chennai is the fourth largest metropolitan city of India that is well known for its cultural heritage and temple architecture. With great blend of tradition and modernity, it is an ideal destination for foreign direct investments and real estate investments. Most of the areas in city have now reached saturation in terms of availability of land for new developments. Thus the areas near Old Mahabalipuram Road are emerging as hotspots for real estate development in Chennai. Padur is one among those locations near OMR area in Chennai that is presently buzzing with lot of real estate activities. With availability of land in the area and lot of IT companies located on the stretch of OMR, the property development in Padur, Chennai is gaining wings. Commercial Property Development in Chennai As more and more IT companies are entering the city, the commercial real estate property in Chennai is giving tough competition to other metropolitan areas for commercial investments in the country. While the commercial properties of Chennai have reached a point when it is very difficult to purchase a property in prominent locations, new industries and software companies are coming up at NH4, GST Road, and OMR. Taking into consideration this factor the real estate developers are planning major commercial developments in the near by areas like Padur. With emergence of major IT hubs, I.T parks in Chennai have become the main nodes of focus of many real estate developers who are planning huge investments in the commercial constructions in the city. There has also been a tremendous increase in demand for office spaces and retail spaces in the city in the lat few years. Malls, retail stores, super markets, multiplexes and restaurants near and around the areas of Padur, OMR are becomng the major attractions for the real estate developers for investment commercial real estate in Chennai. Residential Property Development in Chennai Being major hub for IT, hardware, automobile and financial services, Chennai provides ample job opportunities, thus attracting immigrants in large numbers from all over the country. These immigrants bring along with them the need for residential spaces. This is the major factor contributing for increase in demand for Chennai residential properties. With young professionals going in more for rented spaces, the lifestyle rental apartments are attracting huge investments from NRIs. The booming commercial segment and growing influx of IT professionals have pushed the residential demand and prices to a new high in Chennai over the last few years. Because of burning property prices, increase in population and lack of space, apartments and flats in Chennai are gaining popularity day by day. Realising the demand of the hour, prominent builders in Chennai like Pacifica Companies are building projects comprising of luxurious apartments, providing ultra modern facilities to give a luxurious lifestyle at best affordable rates. However for the well heeled, there is the choice of purchasing high value properties and independent houses like villas and semi detached cottages which usually come with other amenities like swimming pools, gymnasium and exclusive club memberships. The unique feature of such properties is that they are usually located on the popular I.T corridor of Chennai, OMR, making the daily commuting of residents easier to the office. Seeing the real estate trend investing in properties in Padur, Chennai would be wise option for those who wish to earn long-term benefits by investment in Chennai properties because this demand is not going to come down upto a long time from now.
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