Sholinganallur – Home buyers preferred destination
What makes Sholinganallur a perfect investment destination?
Connectivity:
Sholinganallur boasts of some of the prime infrastructure development in and around its surroundings. The area, apart from its excellent connectivity, both in terms of road and public transport, also provides easy access to the rest of Chennai and the nearby IT corridor via the East Coast Road (ECR) and the Old Mahabalipuram Road (OMR) that runs through Sholinganallur. Furthermore, Sholinganallur has a well-established public transportation system, including MTC and TNSTC buses, auto-rickshaws, Chennai International Airport and several railway stations, including the TIDEL Park railway station located about 10 kilometers away from the area, which provide easy access for its residents.
Moreover, in terms of transportation, the government has already started construction of additional bus stops while upgrading the existing ones; The introduction of new bus routes to better connect Sholinganallur to other parts of Chennai is already in works.
Affordability
The affordability of properties in Sholinganallur can vary based on several factors, such as the type of property, location, size, and amenities offered. In general, the real estate market in Sholinganallur has seen a significant rise in property prices over the past few years due to its proximity to the IT corridor and other major commercial centers in Chennai. However, compared to some of the more expensive localities in Chennai, such as Adyar, T Nagar and Nungambakkam, Sholinganallur still offers relatively affordable property options. The average price of an apartment in Sholinganallur can range between Rs. 5,000 to Rs. 8,000 per square foot, depending on various factors. Similarly, the cost of an independent house in the area can vary between Rs. 6,500 to Rs. 10,000 per square foot. The rental rates for properties in Sholinganallur are also reasonable compared to other localities in Chennai, and one can expect to pay between Rs. 8,000 to Rs. 25,000 per month, depending on the size and location of the property.
Ideal Destination
The residential real estate market in Sholinganallur offers a good mix of properties, including apartments, villas and individual houses. The price of property in Sholinganallur vary based on the location, size and age of the property. In recent years, there has been a significant increase in the construction of high-rise apartments and gated communities in Sholinganallur, which offer a range of modern amenities and facilities for residents. These properties often come equipped with amenities such as swimming pools, gymnasiums, parks and playgrounds, making them a popular choice for families. The demand for residential real estate in Sholinganallur is expected to remain strong in the future, given the continued growth of the IT industry in Chennai and the area’s convenient location and good infrastructure.
Sholinganallur has several well-equipped hospitals and clinics that provide a range of healthcare services to the residents. The area also has several schools and colleges that offer quality education to students of all ages. Furthermore, the locality has several shopping malls, supermarkets and retail outlets that cater to the daily needs of the residents. The area has a well-developed social infrastructure, with parks, playgrounds and recreational facilities that provide a great environment for families to live and grow.
Excellent Return on Investment
The return on investment (ROI) in real estate in India can contrast widely depending on myriad factors such as location, property type, market conditions and economic factors. However, historically, real estate has been deemed a good long-term investment prospect in India, with ROI ranging from 8% to 15% per annum.
Infrastructural projects
The planned infrastructure upgrade of the area is expected to boost demand for housing in Sholinganallur. Here are the upcoming projects in the micro market:
- The purple line of chennai metro which will link Madhavaram Milk Colony to SIPCOT, will pass through Sholinganallur
- The construction of a three-span bridge on Sholinganallur-Medavakkam Road is underway
- Planned underground sewage network at Sholinganallur to support the growing population in the area
- Planned two sponge parks at Sholinganallur to recharge groundwater and prevent waterlogging
