140,931+ Members
   Get Started   Latest Posts Search Today's Posts Mark Forums Read
IREF® Real Estate in India - Property Discussion
IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Chennai > Is OMR the new CBD in the making?
Like Tree56Likes

Reply
 
LinkBack Thread Tools Search this Thread
Old February 20 2013, 12:18 PM   #11
Senior Member
 
Join Date: Dec 2008
Posts: 789
Likes Received: 80
Likes Given: 18
Default

Definitely it is in the making.

The way developments are gradually albeit slowly taking place, it is bound to happen.

Already TIDEL/Ascendas/Ramanujam IT park location is the largest job creating place.

Now with Sholinganallur Elcot Park and Siruseri SIPCOT providing further largest job generation, and many star hotels opening their shops and non IT compaies also opening their offices, OMR will be the next CBD

kannan82 likes this.
 
Old February 20 2013, 01:05 PM   #12
Member
 
Join Date: Jun 2012
Posts: 189
Likes Received: 73
Likes Given: 59
Default

The 20km stretch from Taramani to Siruseri has created lot of employment opportunities (2 lakh plus). I guess the average income would be around 40-50K per month.

Please tell me other locations & businesses within city that has so much employment opportunities with higher income range (compared to the so called cheap offshoring).

Please don't underestimate the impact of IT/ITES to Chennai.
ramki830 likes this.
 
Old February 20 2013, 01:24 PM   #13
New Member
 
Join Date: Dec 2012
Posts: 33
Likes Received: 1
Likes Given: 0
Default

If omr is the new CBD in future what will happen to the city areas lke tnagar nungambakkam etc
 
Old February 20 2013, 01:37 PM   #14
Veteran Member
 
Join Date: Sep 2009
Posts: 1,193
Likes Received: 251
Likes Given: 41
Default

Quote:
Originally Posted by kannan82
Please tell me other locations & businesses within city that has so much employment opportunities with higher income range (compared to the so called cheap offshoring).
Hard to argue with above. CBD or no CBD means nothing to OMR. It will continue to thrive as a focal point of *high quality* job creation (per capita income). Initial saplings and this self-reinforcing eco system will beget more high quality jobs from other industries (non-IT) over time.

Job creation and more importantly, high quality income generation belt is a fulcrum for any RE development. This "fundamental" is very fundamental to how RE catches up and OMR has this firmly in place. Rest of what will need to make this happen is a mere gravitation over time - in burst or a grinding action. Compare the % of high quality jobs with in a 5-7 km radial distance anywhere along the OMR and you will get the gist. Try the same for Pallavaram/Chromepet and Vandalur/Perungalathur and see what you pay for what it offers in terms of important "fundamental" of high quality jobs in the area.

Mav
kannan82 likes this.
 
Old February 20 2013, 01:52 PM   #15
Member
 
Join Date: Nov 2009
Posts: 119
Likes Received: 6
Likes Given: 0
Default

Is this argument for OMR vs CBD / IT vs Non-IT ??? :-)
 
Old February 20 2013, 02:03 PM   #16
New Member
 
Join Date: Dec 2012
Posts: 7
Likes Received: 1
Likes Given: 4
My Mood: Breezy
Default

Quote:
Originally Posted by sreejay View Post
If omr is the new CBD in future what will happen to the city areas lke tnagar nungambakkam etc
T-Nagar has a unique identity, which cannot be replaced by OMR. T-nagar enjoys the benefits of strong local business (Gold, textile) to meet the needs of local population. Many in chennai prefer to buy their Gold in t-nagar despite crowd. Many feel its a shopping experience, which you wont get it in other parts of city. Recent report also suggest T-nagar is the most revenue making region beating similar places in Delhi, Mumbai. OMR will have Malls, period.
 
Old February 20 2013, 02:07 PM   #17
Member
 
Join Date: Jun 2012
Posts: 189
Likes Received: 73
Likes Given: 59
Default

Not sure if the 1500 acre Japanese Township or the 180 acre Financial City plans would ever materialize. But these are indications that government at least has plans to bring Non IT business to OMR.

1,500-acre Japanese township to come up soon on OMR - Times Of India

Back from limbo: Tamil Nadu fishes out financial city dreams - Times Of India
 
Old February 20 2013, 02:18 PM   #18
Member
 
Join Date: Dec 2012
Location: chennai
Posts: 100
Likes Received: 14
Likes Given: 22
Default

The shopping experience in T-Nagar, come on. People go there for discounted/cheap products.

Also OMR can not be replaced by T-Nagar. But you can bring all those gold shops (as their branches along the OMR, may not in same peice of land) and Ppl living in OMR (majority) will not be interested to buy cheap or Low quality prods, so no need of those shops. I dont think TCS will plan a branch in T-Nagar.

Since the business running here is different in nature compared to T-nagar, OMR can be modern commercial and residential area, need not to be similar CBD like T-Nagar.

But if India continues to grow depending on services industry, OMR may beat T-Nagar in future. You can not compare it on Price per sqft, u need to compare it on income genrated/productivity per unit of land.
 
Old February 20 2013, 02:28 PM   #19
Member
 
Join Date: Dec 2009
Location: London
Posts: 355
Likes Received: 91
Likes Given: 9
Default

Looks like some of our fellow member are obsessed with skyscrapers. It may be something new to Chennai, please make a tour of places like Gurgaon or Noida which had plenty of skyscrappers all around even 7-8 years back which only led to oversupply of residential units with not many takers and put a big strain on the existing infrastructure. Place like London have only a very few skyscrapers in Canary wharf. What do you make out of it?
As far as the IT outsourcing, India is heavily dependent on US & Europe and had a dream run in the last 15 years or so because it was competitive interms of rate. With the salaries sky rocketing in the last 5-10 years and if it continues at this pace, do we still have the competitive edge in the future (say in 10 years time)?
 
Old February 20 2013, 02:31 PM   #20
New Member
 
Join Date: Jan 2013
Location: Chennai
Posts: 22
Likes Received: 4
Likes Given: 1
My Mood: Breezy
Default TCS is in T.nagar

Quote:
Originally Posted by srk0447 View Post
I dont think TCS will plan a branch in T-Nagar.
TCS has a branch in T.nagar , Habibullah Road, Near German Hall and GN Chetty Road Junction. So do many other MNC's on Venkat narayana Road.
 
Reply
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Join IREF Now!    
Related Threads
SPR (Sec 69,70,71,72,73) - Another Opulence in the making
The art of home making
Making an exit is not tough
STOP MAKING NEW THREADS
Making money


Tags
cbd, making, omr
".Chennai.", ".Tamil Nadu."India