OMR’s real estate evolution: From IT hub to affordable luxury villa
From tech parks to luxury living,Old Mahabalipuram Road (OMR) is redefining Chennai’s real estate landscape. Once known for its glass-and-steel IT offices, the corridor is now witnessing a surge in villa communities, offering the ECR lifestyle at more affordable prices and drawing homebuyers away from the city’s traditional coastal luxury belt.
However, both prime stretches face infrastructure challenges. Chennai’s housing demand is distributed as follows: South Chennai – 60%, West Chennai – 30%, and the Central Business District & North Chennai – 10%. Plotted developments and villas hold a 30% market share of the city’s residential segment, explained Sanjay Chugh, Director, Anarock. At the recent Credai Chennai Fairpro real estate expo, this year the enquiries were more for plots and villas.
“This year we recorded 385 bookings in just three days. Last year it was 302. We are seeing a lot of villas and plotted development on ECR, and on OMR there is demand till Tiruporur and beyond,” said P Kruthivas, convenor, Fairpro.
While ECR remains the preferred villa destination for NRIs and HNIs, OMR is rapidly catching up. “Many projects
are coming up beyond Sholinganallur, a few kilometres from the main road. The favourite micro-markets include
Navalur, Padur, and Karani,” said Ranjeet Rathod of DRA Homes.
A key attraction for buyers is the relatively lower cost of villas along OMR. While ECR villa prices start of 4 crore, OMR villos begin at 15 crore, making them an appealing option for those seeking luxury living at a lower investment.
“On OMR, 60% of demand comes from senior IT professionals, while 20% is from NRIs and HNIs,” he added. The proximity to major IT parks and tech hubs is a significant advantage, ensuring a seamless work-life balance. Two types of villa communities are emerging in OMR: row houses based on UDS and individual villas that offer subdivided plot ownership. “Villa developments ease infrastructure pressure as they are set in green spaces, away from the main road’s hustle.
