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Impact Of Metro On Chennai Real Estate

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Impact Of Metro On Chennai Real Estate

Last updated: September 24 2012
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  • Impact Of Metro On Chennai Real Estate

    I guess due to metro train projects importance of city properties will diminish
    and value of outskirt properties well connected to city thru metro will increase.
    May be it is wise to invest in outskirts now
  • #2

    #2

    Re : Impact Of Metro On Chennai Real Estate

    You are mistaken. City properties will never diminish because land is fully exhausted in the City.

    Comment

    • #3

      #3

      Re : Impact Of Metro On Chennai Real Estate

      not fully exhausted !, still it is available in form of old houses

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      • #4

        #4

        Re : Impact Of Metro On Chennai Real Estate

        Originally posted by artheeindia View Post
        I guess due to metro train projects importance of city properties will diminish
        and value of outskirt properties well connected to city thru metro will increase.
        May be it is wise to invest in outskirts now
        The Value of City properties will remain Stable or grow slowly.

        Out Skirt properties will JUmp UP Higher and Faster.

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        • #5

          #5

          Re : Impact Of Metro On Chennai Real Estate

          Price have already peaked in outskirts, due to speculation of metro rail, new airport, new highways, companies coming up etc...

          Maybe if it materializes we might see another increase, but I feel otherwise those things are already priced in.

          Investing in city or extended city (not exactly suburbs - areas like Madipakkam, Medavakkam etc) might be a better option. Just my guess.

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          • #6

            #6

            Re : Impact Of Metro On Chennai Real Estate

            Agree with @randomguy.

            Suburbs are expensive. There are many properties in city itself for 7K while suburbs are demanding 6K. The difference is too small sometimes.

            I consider Velachery, Madipakkam, Guindy as outskirts. They are not suburbs but still have low base prices. They have good potential to grow.

            Also there are cheaper suburbs which are on the west side, which can give bigger returns, but it is a bigger gamble as well.

            Metro does not exactly cover suburbs. It is limited to city boundaries only.
            Phase I ends at Airport in south. It does not go beyond it, so it does not help GST or OMR.

            Monorail has not started yet so I cannot comment on it.

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            • #7

              #7

              Re : Impact Of Metro On Chennai Real Estate

              Price hike is a constraint only for buyers , sellers and bankers but not much to people already living in th locale unless they want to sell theirs off...
              I live in ramapuram and the area would have benefitted a lot only if we received metro rail in the first phase... but alas bad luck....

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              • #8

                #8

                Re : Impact Of Metro On Chennai Real Estate

                Also the current state govt has stopped phase III and other future phases for now.


                If they start now, may be by 2020 we might have some decent coverage. So I do not think betting on Metro is a good idea.

                Each Km costs lot of money. I heard underground metro line per km costs 300 crores, elevated one costs I think above 50 crores, so they might not link all suburbs as they will not be able to recover the money. Remember metro is not a fully govt funded intiative. It is a PPP model, where each route has to generate money on its own.

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                • #9

                  #9

                  Re : Impact Of Metro On Chennai Real Estate

                  Per TOI today, the metro rail is going to create chaos around the station. This is due to no planning of space for parking vehicles at each station. Also no proper planning for quickly dispersing the crowd that expected to get down during peak hrs at major stations like anna salai, porur, washermampet etc... This leads to improper parking of vehicles near the streets by cabbies, two wheelers , autos and they eventually chock the near by streets.

                  This would impact the residential housings near metro stations!

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                  • #10

                    #10

                    Re : Impact Of Metro On Chennai Real Estate

                    So it is better being 2 kms away like for Alandur station better being at Adambakkam,Velachery kind of areas.

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