North Chennai has huge potential, say realtors

According to them, North Chennai offers plewnty of opportunities as the infrastructure in the area remains underutilised. North Chennai had seen early development right from the British era with roads, sewage, electricity being offered in the locality. 

North Chennai lies within the city limits and enjoys good connectivity with respect to road and railways (including local trains). The area is well equipped with metro water supply, sewage network and other basic amenities, as it lies within corporation limits. 

N. Nandakumar, managing director of Devinarayan Housing & Property Developments Pvt Ltd says that North Chennai had been in existence as an urban agglomeration ever since the British regime. The basic and social infrastructure had been in place and had demonstrated sustenance at all times. 

“Nevertheless the predominance of industrial activity in North Chennai had constricted the middle and upper middle income group as the major occupiers,” he said. 

Nandakumar pointed out that in recent times North Chennai had seen a visible buyer response to redevelopment projects, which establishes the fact that there is yet a captive market as people do prefer North Chennai for their homes. 

With a mix of social infrastructure more in particular to leisure and entertainment in an organised manner along with residential developments the market is set to captivate North Chennai as another preferred destination. 

Supporting infrastructure such as good roads, sanitation, education, health care and work places already existing in North Chennai places it in an advantageous position over other emerging areas. 

Nandakumar hopes that with higher quality of projects and developers with established track record, North Chennai skyline could be redefined on par with modern urban space. 

Adding to Nandakumar’s view, V.S. Sridhar, managing director (Chennai) of Cushman and Wakefield India says that North Chennai, largely known as an industrial belt, had been transforming on the real estate front. 

The area, which primarily comprised of independent houses is seeing a gradual shift towards organized real estate development with development potential arising on account of redevelopment of old bungalows. 

This change could be attributed to changes in lifestyle preferences of the new generation, Sridhar says. “Competitive pricing (Rs. 3500 to Rs. 5800 per sqft) in comparison to central and southern parts of Chennai could be the major reason driving North Chennai’s growth,” Sridhar said.