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Impact of Metro on Real Estate Prices in Virugambakkam

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Impact of Metro on Real Estate Prices in Virugambakkam

Last updated: June 4 2013
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  • Impact of Metro on Real Estate Prices in Virugambakkam

    Hi, I was wondering if there would be a good impact on RE prices on localities close to upcoming metros. Logic will conclude yes. But will the accompanying commotion and crowd make the locations around the Metros less desirable.
    the reason I bring this up is because locations around existing uburabn rails like mambalam etc are a big mess, and I wouldnt want to live in such an area.

    Also, I am planning to buy a flat in a small development in Virugambakkam which is 1.2 km from Arcot road and 2.2 km from Koyambedu (bus/Metro), 2.3 km from CMBT (metro), 2.6 km from vadapazhani metro.

    Any potential in such a place?
    Last edited December 6 2016, 05:10 PM.
  • #2

    #2

    Re : Impact of Metro on Real Estate Prices in Virugambakkam

    There are definite advantages if your residence is within a short reach of a Metro station. Say, within 1 km. 2 kms and above would not have that much special impact on the real estate prices.

    Comment

    • #3

      #3

      Re : Impact of Metro on Real Estate Prices in Virugambakkam

      metro is expected to drastically reduce travel times.. two thumbs up

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      • #4

        #4

        Re : Impact of Metro on Real Estate Prices in Virugambakkam

        Buy it, but do not pay crazy prices just because of Metro.

        Metro phase II is stopped. We are not sure if we will get more lines in future, or will it become like MTRS. The existing two lines are not enough. Until Phase II takes off there will be less ridership. Main population centers are set to be connected in Phase II, which includes Redhills, Thivanmayur, Perambur, Luz, RK Salai, Thousand lights, T Nagar, Vadapalani, etc.
        Template:Phase II, Chennai Metro - Wikipedia, the free encyclopedia

        I hope we get funds from CG and at SG our Amma, agrees to it by getting money from somewhere. Until that all the metro is a just one big hype.

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        • #5

          #5

          Re : Impact of Metro on Real Estate Prices in Virugambakkam

          In fact in Anna Ngr and Ashok Ngr , Metro narrowed down the road and many abandoned and closed the shops and office long back. In Ashok Ngr way bak in Jul 2011 , many sold the flats as the road got narrowed down so deeply close to the Balcony .

          In Mount Road too starting from Simpson to Guindy, many got affected.

          Then adding to the above woes, Junction where 1000 of Commuters get down and up evry now and then will make the traffic as unruly mob when bus traffic itself is not controllable in peak hours with 20-30 people's crossing.

          These are all teething issues and will get resolved only when Multi modal transportation and Group traveling and above all using the public transportation come into play like Mumbai

          Unless a city use Public transportation heavily and prudently, all flyovers, bridges, MR and Road will het congested as usual

          Many lost value due to 20 feet height and close to their balcony in above areas and in Mount road, many got underground foundation dusturbing issues really.

          MR connects Airport with many points of cities primarily and how heavily one use Airport with such interconnectivity remains to be seen though it acts as quick transportation mode for the spots in between ,of course .

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          • #6

            #6

            Re : Impact of Metro on Real Estate Prices in Virugambakkam

            It may not be much.

            For eg,Mount road has already started loosing the shine as the prime place of employment and shopping. Many shops are running low business. Metro is not going to make big changes in these locations.

            Perhaps if they had laid Metro in 80s, it would have made big impact in these areas

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            • #7

              #7

              Re : Impact of Metro on Real Estate Prices in Virugambakkam

              I think the MRTS (EMU type coach) and metro are a differnt ball game. The metro as with Delhi/Singapore is expected to be of international standards. with the auto guys fleecing everyone, metro will be a boon to commuters doing white collar jobs. The areas around metros I think will be congested , but a km or two from the metro and connected by a main road will be good ( I feel). this kind of infra projects will make RE go up. Also mount road type of shopping has been replaced by malls in suburbs etc.

              I still feel that metro will be huge and i hope they start phase 2. TN politicians squabble so much and then say 'vadai poche'

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              • #8

                #8

                Re : Impact of Metro on Real Estate Prices in Virugambakkam

                Originally posted by k11 View Post
                Buy it, but do not pay crazy prices just because of Metro.

                Metro phase II is stopped. We are not sure if we will get more lines in future, or will it become like MTRS. The existing two lines are not enough. Until Phase II takes off there will be less ridership. Main population centers are set to be connected in Phase II, which includes Redhills, Thivanmayur, Perambur, Luz, RK Salai, Thousand lights, T Nagar, Vadapalani, etc.
                Template:Phase II, Chennai Metro - Wikipedia, the free encyclopedia

                I hope we get funds from CG and at SG our Amma, agrees to it by getting money from somewhere. Until that all the metro is a just one big hype.
                im buying at about 7100 psf. also getting good uds. (1.7 C per ground)

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                • #9

                  #9

                  Re : Impact of Metro on Real Estate Prices in Virugambakkam

                  Originally posted by skchennai View Post
                  im buying at about 7100 psf. also getting good uds. (1.7 C per ground)
                  You have a lot other good reasons to buy, Just that Metro is not one of those good reasons.

                  To enjoy any prominant growth Impact from Metro- the propery has to be in a Zone of: 200 meters away from the Metro line but with in 1 Km from the line.

                  That zone of 800 meters will have the maximun growth due to Metro.

                  Too close = Negative.
                  Too Far over 1 km = Low or no impact.

                  The 800 meter comfort Zone may have increased FSI and commercial opurtunities.

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                  • #10

                    #10

                    Re : Impact of Metro on Real Estate Prices in Virugambakkam

                    Originally posted by Economist View Post
                    You have a lot other good reasons to buy, Just that Metro is not one of those good reasons.

                    To enjoy any prominant growth Impact from Metro- the propery has to be in a Zone of: 200 meters away from the Metro line but with in 1 Km from the line.

                    That zone of 800 meters will have the maximun growth due to Metro.

                    Too close = Negative.
                    Too Far over 1 km = Low or no impact.

                    The 800 meter comfort Zone may have increased FSI and commercial opurtunities.
                    haha.. okay.. i am trying to convince myself that I am taking the step. So any thing happening around the vicinity, I am trying to give it a positive spin to my purchase.

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