West Tambaram property market: An overview

West Tambaram is one of the oldest neighbourhoods located in the southern part of the city of Chennai and is one of the major residential and commercial hubs of the city. Earlier the area was a village and during the earlier periods of British rule it was a camp for the British East India Company. Later it was included into the main city of Madras. Now, West Tambaram is known as the gateway to the southern part of the city of Chennai. Nearby West Tambaram localities include Pallavaram, Chromepet, Laksmi Nagar, and Krishna Nagar.

 

Being one of the oldest parts of the city it is one of the premier residential areas as far as West Tambaram real estate is concerned. Beautifully planned and landscaped, the area has well- developed social amenities and is home to a cosmopolitan population. The locality also houses the Madras Export Processing Zone, which earns foreign exchange for the country. Due to advent of various IT majors and other multi-national companies (MNCs), the city of Chennai has been witnessing a rapid growth in influx of working population from outside the city. As a result of this there has been a surge in the demand for residential apartments in West Tambaram, with it being one of the noted suburbs of Chennai.

 

There are a number of noted projects which have come up in this area like Royal Splendour Akarshana, VGN Milano Square and Marutham Group Heritage. Builders in West Tambaram includes famed developers like Marutham Group, Mantri Developers, Shriwin Enterprises and Stepsstone Builders who are working on some of the projects in West Tambaram.

 

Connectivity with nearby West Tambaram localities

• Chennai Bypass Expressway, Kundrathur Road, Grand Southern Trunk (GST) Road and Outer Ring Road are some of the prominent roads which run though the area.
• The area has an extensive bus service and the Tambaram Bus stand lies in close vicinity.
• The area has its own suburban railway station. Apart from that, there is a railway station at Chromepet from where the railway services can also be availed. The Chromepet railway station is approximately 4 kilometres away from West Tambaram.
• The International Airport Metro Station, the St Thomas Mount Metro Station and the Alandur Metro Station lie at close proximity.
• The Chennai International Airport is about 9 kilometres away from this area.

 

Employment hubs near West Tambaram

• The Olympia Tech Park, the TEK Meadows and the MPL Silicon Towers are located at a distance of about 15 kilometres from this area.
• The Chennai Trade Centre, the SIDCO Industrial Estate and TECCI Park are approximately 16 kilometres away from the area.

 

Schools in West Tambaram and other social amenities

West Tambaram offers very good social infrastructure to its residents. Some of the reputed schools in West Tambaram include the Loyola Matriculation Higher Secondary School, Lalaji Memorial Omega International School, Jain Vidyalaya Matriculation and Higher Secondary School. Some of the leading hospitals in West Tambaram include the Chennai Krishna Hospital, BM Hospitals and Hindu Mission Health Services. The shopping needs of the residents are catered to by malls in West Tambaram such as the Gold Souk Grande Mall, Phoenix Market City and Matrix Mall.

 

Price trends in West Tambaram

• Price appreciation- Around 27% in the last one year.
• Current property rates- Rs 3,351 – Rs 5,132 per sq ft.

 

Reasons to invest in West Tambaram

Considering the price trends in West Tambaram and the rising demand, the locality should prove to be a good investment. There is excellent appreciation of property rates with a number of projects being developed here. The area has many gated communities and luxury apartments. The area offers excellent connectivity and social infrastructure and these are the reasons for its rapid growth. There is no denying that West Tambaram is certainly one of the best places to live in Chennai. Considering all these factors, West Tambaram is an excellent place for investment.

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