Despite the southern localities of Chennai such as Parambikulam, Sholinganallur and Medavakkam being major destinations for residential and commercial investment, kelambu I have joined the pack and emerging as a potential real estate market.
Primarily famous for its religious significance and aesthetics, now Kelambakkam has got significant realty development because of affordable rate comparing it’s neighborhood localities. Several developers have launched their housing projects, aiming on different income groups.
The upcoming infrastructure projects such as metro and elevated expressway close to Kelambakkam is very likely to improve this scenario.
Kelambakkam is just a small drive away from various major IT companies such as CTS, TCS, Wipro, and Infosys located on the OMR stretch. Several small scale companies are also located here providing office space for lot of residents. This has definitely hiked the property demand at Kelambakkam.
As the commercial market is high in Kelambakkam. This has fed the residential market of Kelambakkam increasing the demand of the locality. This originates from working professionals falling in low and lid income category. 1 BHK varies from 18-20 lakhs where 2 BHK and 3 BHK Varies from 25-35 and 38-45 lakhs.
The rental market is also thriving here cause most of the locality prefers rental accommodation. The rent varies from 5000 to 8000 for 1 BHK, 10000 to 12000 for 2 BHK and varies accordingly for higher living space.
Kelambakkam is connected to the state highway and Kelambakkam to Kovalam road that has access to other micro markets in the city. Adding to this the upcoming metro rail projects will also reduce the traffic. The elevated expressway is also likely to boost the realty value of the place. The locality also connects is residents to various facilities from hospitals, educational center to entertainment options.
The area has access to all micro markets and commercial points. It is also very affordable comparing it’s neighbouring localities, thus Kelambakkam will face a major turn around on the realty market front. Kelambakkam has the potential to attract investors aiming various markets.