Velachery: A Developed Real Estate Haven

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Velachery A Developed Real Estate Haven

• BY
• Thomas Andrew

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• Chennai is enjoying its status of being the
  fourth largest metropolitan city in India
• And, the way IT companies are emerging in
  Chennai it is obvious that the real estate
  market is not far behind.
• Since most of the IT companies are setting up
  their operations on the OMR (Old Mahabalipuram
  Road), Velachery is becoming known as the best
  residential investment hub.
• Velachery, previously known as Vedasreni
  meaning abode of vedas, is a residential area
  in south Chennai and is a prime locality for
  commercial and residential real estate demands.
• Perungudi,
  Tambaram,
• Adyar
• 
  Medavakkam
• Adambakkam

Velachery
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• Velachery is well-connected to all parts of the
  city through its extensive transport network
  system.
• The main means of transport are the train, bus
  and share auto.
• The Mass Rapid Transport System (MRTS) originates
  at Velachery, passes through all the major
  locations of Chennai and ends at Chennai Beach.
• Velachery is a junction that connects to three
  arterial roads
• Velachery Main Road that connects to south
  Chennai and Mount Road.
• Taramani Link Road connects to MGR Salai, which
  in turn connects to the OMR
• Velachery Bypass Road connects to Guindy in the
  north-east.
• Apart from this, Velachery is included in the
  proposed Monorail plan connecting Velachery to
  Vandalur.
• Having such wide-spread connectivity and close
  proximity to the IT corridor of OMR,
  Sholinganallur and the SEZs in Medavakkam,
  Velachery is rapidly becoming a popular
  destination to invest in apartments in Velachery.

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• Velachery is proud to have some of the best and
  reputed schools in its surroundings
• Pon Vidyashram, DAV Matriculation School,
  Sunshine Chennai Senior Secondary, Sri Sankara
  Vidyalya, and Gurunanak Matric Higher Secondary
  School among others.
• Good colleges here include the Gurunanak College,
  Jerusalem College of Engineering, Perumal
  Engineering College, and Balaji Dental College
  and Hospital.
• Leading hospitals are Kamakshi Memorial Hospital
  in Pallikaranai, Xcellent Care Hospital, KS
  Hospital and Appasamy Krishna Hospital.
• There is also a rapid growth of commercial real
  estate.
• A number of new commercial projects are ongoing
  in this locality as the area offers commercial
  spaces for malls, showrooms and good retail
  shops.
• Phoenix Mall is the largest mall in Chennai. The
  Grand Mall is under construction and will be open
  soon.

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• The prime reason for flourishing real estate is
  the proximity to IT companies like TCS,
  Sutherland Technologies, ZOHO, Allsec
  Technologies and to the OMR, which is the gateway
  for the IT world.
• There are already a good number of builders in
  Velachery who have made a prominent niche for
  themselves.
• The housing area comprises of flats, township and
  Villas in Velachery with state-of-the-art
  amenities and facilities like club house,
  gymnasium, 24-hour power backup, security,
  intercom, community hall, and much more.
• The average price for a flat for sale in
  Velachery is Rs 7200 per square foot and rent may
  cost around Rs 19 per square foot.
• Residential houses may cost approximately Rs 7261
  per square foot.
• In the last few years, the real estate market has
  swiftly been appreciated in Velachery and there
  is scope for even more upswing in the near
  future.

Ref http//www.baanyuan.info/velachery-a-develope
d-real-estate-haven/