OMR - Why It's One of Chennai's Preferred Residential Destination

There are few stretches of roadways as iconic, scenic and steeped in culture as Old Mahabalipuram Road in Chennai popularly referred to as OMR. This 20 km long highway stretches from Madhya Kailash Temple on Sardar Patel Road in South-East Chennai right up to Mahabalipuram in the south where it connects with the equally famous East Coast Road (ECR). OMR, also known as the Rajiv Gandhi IT Expressway, has witnessed huge growth and development in the last decade as it gained a reputation for becoming the IT Corridor of Chennai. Life in OMR has upgraded in a big way and it has become the residential destination of choice for both - families, and developers looking to meet this rising demand. Here’s why:

Connectivity

Ease of travel is a major USP of any good residential area and OMR boasts of excellent infrastructure which boosts connectivity. This includes the entire stretch of OMR with its flyovers and dedicated MRTS routes and direct connectivity to the Chennai airport as well. East Coast Road and the GST Road further enhance connectivity to other suburbs of Chennai such as Thiruvanmiyur, Palavakkam, and Neelankarai. Other arterial routes such as Velachery-Tambaram Main Road and Kelambakkam-Vandalur Road provide a good road network. Proposed infrastructure such as a 17.7 km elevated road from Siruseri to Taramani, alongside the upcoming Metro line on OMR will be a game changer for residents and businesses along the OMR.

Employment Hub

The IT and ITeS industry is one of the highest employers in India. OMR is home to one of the biggest agglomerations of IT and ITeS businesses such as TCS, Cognizant, Syntel, Mahindra, Wipro, Infosys, Hexaware and more. Most of these companies are set up in large IT Parks such as SP Infocity, RMZ Millenia, Ascendas, SIPCOT, ELCOT SEZ and TIDEL among others. The presence of major companies such as these means numerous employment opportunities and further growth of the city’s ecosystem.

Well-Developed Social Infrastructure

The commercial and residential growth of OMR in the last few years has meant an upgrade in the civic amenities and infrastructure as well. A number of good education institutions and hospitals serve residents here. IIT-Madras, Hindustan University, Sathyabama University, St. Joseph’s Institute of Technology are some well-known higher education institutions, and among schools there’s Gateway International School, Hiranandani Upscale School and Ramana Vidyalaya among others. Apollo Hospital, Global Hospital and Chettinad Hospital are among those that provide excellent medical care and services.

Gateway to Adventure

Located close to the coastline means residents of OMR have an easy access to the many popular beaches. Besides the many coastal picnic spots and resorts there are water sports such as scuba diving and surfing to indulge in. Other easily accessible attractions in OMR are MGM Dizee World, VGP Theme Park, artisans’ villages like Dakshinchitra and the Cholamandalam Artists’ Village. The drive along OMR is also scenic and pleasant as one passes long stretches of water bodies such as the Great Salt Lake, Sholinganallur Lake as well as Guindy National Park, and Pallikaranai Marshland which is well-known among bird watchers. For those who prefer indoor entertainment, there are several malls and multiplexes as well.

At House of Hiranandani, we understand the value of living close to work and amidst nature. Our City by the Sea project in Egattur is a sprawling 120 acre residential project with amenities such as a school, spa, salon and crèche. Choose from among 2, 3, 4 and 5 BHK spacious and luxuriously designed apartments across some of the tallest towers in OMR. While the project is located right opposite SIPCOT Park, it also has easy access to many other IT Parks and most social infrastructure. The project is surrounded by lush greenery so residents can enjoy clean air, and picturesque views of the nearby lake.

Chennai: The Next Real Estate Investment Hub

Chennai’s advancement over the past decade as an industrial hub with the rise of various manufacturing industries has led to the development of a lively real estate market in the city. As per the Mercer Survey 2017 Quality of Living Index, which compares all major cities of India, the one city that has made improvement is Chennai. Once considered a less significant investment opportunity in India, Chennai has steadily emerged as a real estate hub to be reckoned with.

If you’ve been sceptical about investing in Chennai, here are some reasons which could make you reconsider:

Safest City in India:

Chennai has been assessed as one of the safest cities in India, jumping ahead of metros like Bangalore, Hyderabad and Pune. The Mercer Survey finds Chennai to be the safest Indian city with a global rank of 113. Chennai achieved this, based on points for internal stability, lower crime levels and efficient and capable local law enforcement. These factors would go a long way in influencing a potential real estate investor looking to enter a new territory.

Booming Business and Industry Sectors:

Sectors such as IT, the automotive industry and electronic manufacturing industry in Chennai have been constantly growing. Many companies have been investing in the city, which has given rise to employment opportunities, good connectivity and an abundance of housing options. Back in 2013, commercial offices had occupied spaces around 4 million square feet. Most of these occupants were IT/ITES companies that employed around 4.5 lakh people. Four years later, the growth has only been exponential.

Public Transport:

Chennai offers a variety of public transport systems for commuters, making it easy and fast to reach destinations. These diverse transportation systems include the Chennai Metro Rail, Chennai Mass Rapid Transit System, buses, taxis, rickshaws, etc. The government has been making efforts to improve its bus services and routes to ensure hassle free commutes. Also, in a country like India where women’s safety is a huge concern, Chennai is a city which offers safe commute to all.

An efficient and modern transport infrastructure makes any city a preferred choice for investors. With its long-term investment in developing urban transport, Chennai is now a much sought-after investment with long-term potential.

Education and Health Care:

Chennai is known to be one of the best destinations in terms of education in India. There are well reputed educational institutions such as NIFT, IIT and Loyola College. Known to be the ‘Health Capital of India’, Chennai has access to the best health care and medical facilities. Examples of such health care centres are Apollo Hospital, Fortis Malar Hospital, etc., marking Chennai for its quality of life.

As you can see from the above points, with abundant opportunities and thriving development, Chennai has a very bright future as an investment hub.

At House of Hiranandani, Chennai has been an area of focus for a while now. With a number of important developments, like our world class projects on the Old Mahabalipuram Road in Egattur, we have ticked all the boxes for location, luxury offerings and connectivity. In fact, one of our projects at the OMR - the Anchorage - is designed to be the tallest building in Chennai. As a company, we are committed in our focus to develop world-class housing projects in the city of Chennai.

Why Bengaluru Could Be The Indian City Of The Future

According to Knight Frank’s 11^th edition of The Wealth Report 2017, Bengaluru is among the top seven hotspots around the world that present exciting opportunities for private property investors in 2017 and beyond.

In another survey - Jones Lang LaSalle's fourth annual City Momentum Index of cities around the world – Bengaluru is placed right at the top of the World’s Most Dynamic Cities, beating out the likes of Shanghai, London, Dubai, New York and even Silicon Valley in the US. This index tracks the speed of change of a city's economy and commercial real estate market. It covers 134 major established and emerging business hubs and identifies cities that have the potential to maintain the greatest dynamism over the short and long term.

According to Jones Lang LaSalle, "Most dynamic cities share the ability to embrace technological change, absorb rapid population growth and strengthen global connectivity.”

The Passport Cities Database projects that Bengaluru will be one of the three Indian cities to record the fastest rate of real GDP growth over 2016-2030, making the future of the former ‘Garden City’ look very rosy indeed.

With an eye on the future, House OfHiranandani has already been steadily developing a diversified portfolio of properties in Bengaluru. In case you haven’t seen them yet, have a look at these impressive video vignettes of the well planned developments in Devanahalli, Hebbal and Bannerghatta.  Also, this video explains why we continue to push for growth in South India.

Bengaluru’s success can be attributed to three major factors:

One, known as the ‘Silicon Valley Of India’, it has attracted some of the brightest and most ambitious scientific and technological minds from around the world.

Two, government involvement seems to have worked to Bengaluru’s advantage. Here, the government has, over time, promoted investments in the city and developed a positive relationship with business and industry. There are a number of government initiatives that are bound to further enhance Bengaluru’s reputation as a city with an eye on infrastructure development: the proposed Mumbai-Bengaluru Industrial Corridor, the under-development NICE expressway that will connect the city to Karnataka and Mysore, and the expansion of the Namma Metro system.

Thirdly, Bengaluru, with its high standard of living and ease of doing business, has been steadily attracting some of India’s wealthiest individuals. According to ET Realty, “the city has 220 Ultra High Net Worth individuals, a number which has grown by 15% in the last one year.”

Many decades ago, India’s first Prime Minister Jawaharlal Nehru had predicted that the then-sleepy Garden City would be India’s ‘City Of The Future’. Now, with Bengaluru being declared ‘The Most Livable City in India’ in 2012 and with its most recent accolades, it would seem like our esteemed late Prime Minister’s prediction might be truer than we could have imagined.