Choolaimedu

 

Choolaimedu, situated in the central part of Chennai, is a blend of residential and commercial properties. Once part of the village of Puliyur, Choolaimedu has now become a commercial hub that caters to the varied interests of its residents. The area also has the distinctive feature of connecting two of the busiest routes in Chennai, namely Nelson Manickam Road and Arcot Road.

 

Apart from being strategically located in the heart of Chennai, Choolaimedu enjoys the company of various developing localities on either side. Some of these localities include Kodambakkam, Vadapalani, Aminjikarai, Mahalingapuram, Egmore, Arumbakkam, and Nungambakkam.

 

Choolaimedu is also blessed with active social infrastructure, with a myriad of educational institutions, healthcare centres and parks in the area. Some of the popular parks include Children’s Park, Chennai Corporation Park and Gill Nagar Park. The well-equipped multi-specialty hospitals include Choolaimedu Hospital, Amma Hospital and Srinivas Eye Hospital.

 

The developed social infrastructure of Choolaimedu is complemented by an equally expanding commercial and residential market. The locality relishes the company of many multi-brand stores, malls, and restaurants such as Lifestyle, MRE Shopping Centre, Singapore Shoppe, Megamart, City Shopping Centre, and Indi Mall. Some noteworthy residential projects that flock the area are Chitra Avenue, Sri Narayana Apartments, Shree Flats, and Claremont Court.

 

Connectivity and Transit Points

 

Choolaimedu is well connected with other important parts of Chennai via roads like Arcot Road, Jawaharlal Nehru Road, Nelson Manickam Road, Choolaimedu High Road, and MMDA Colony Road. Smooth accessibility within the area is facilitated by a number of streets such as Anna High Road, Bajanai Koil Street, Sivan Koil Street, and Periyar Pathai.

 

By utilising the public transport services provided by Metropolitan Transport Corporation, one can access all the other important localities of Chennai. A number of buses ply through the Metha Nagar, Choolaimedu, and Loyola College bus stops, making intra-city travel affordable and convenient.

 

Because of Choolaimedu’s proximity to Nungambakkam, it revels in great rail connectivity. The train services at Nungambakkam Railway Station facilitates not just intra-city and inter-city travel, but also inter-state travel.

 

Chennai International Airport also lies only around 12 km from Choolaimedu, ideally only a 20-minute drive away. But due to the heavy traffic that usually besets the roads around Choolaimedu, the travel time often stretches to approximately 45 minutes.

 

Major Landmarks

 

●     Arcot Road

●     New GG Mahal Kalyana Mandapam

●     Gill Nagar Park

●     Neyveli Lignite Corporation

●     Indian Overseas Bank

●     Cooum Stream

●     Choolaimedu Telephone Exchange

●     Zen Arts

 

Factors for Growth in the Past

 

Due to the construction of the four-lane Nungambakkam Railway Station, the once silent and quiet locality of Choolaimedu saw rapid development, especially in terms of commercial infrastructure like hotels, shops, restaurants, and lodges, to cater to the needs of travellers making a stop at Nungambakkam Railway Station.

 

With the growing velocity of Chennai’s real estate market, the area soon shifted from being just a commercial storehouse to a well-planned mix of residential-cum-commercial locality. The establishment of reputed colleges such as Loyola College in proximity to Choolaimedu only added to its growing appeal, inviting more commercial and residential projects to this part of the town.

 

Residential and Commercial Market

 

Residential Market Trends

 

The locality has an array of different types of property for sale. But, the most dominant property type is apartments, followed by independent houses. Apartment unit types varying from 1 BHK to 3 BHK is widely available, and the average price ranges from Rs 7,050 per sq. ft. to Rs 8,200 per sq. ft. The average price for 4 BHK apartments is the highest in the area and comes close to Rs 13,000 per sq. ft.

 

The rentals in the area range from moderate to high, with the average rent for 1 BHK being around Rs 8,000 to 10,000 per month. The average rent for 2 BHK and 3 BHK apartments in Choolaimedu is higher, at Rs 17 per sq. ft., and ranges between Rs 14,000 to Rs 26,000 per month.

 

Commercial Market Trends

 

Commercial plots sell at an average price of Rs 7,705 per sq. ft. However, offices and shops are sold at a relatively higher price. The average price for offices is Rs 10,900 per sq. ft., roughly translating to Rs 9 crores, and the average price for shops is Rs 14,800 per sq. ft., grossing approximately Rs 12 crores.

 

The average rent for offices can fall anywhere between Rs 13,000 per month to Rs 42,000 per month, and can go higher than this depending on a host of factors. The average rent per month ranges from Rs 82,000 per month to Rs 1,65,500 per month.

 

Major Challenges

 

The most evident civic issue faced by the residents of Choolaimedu is traffic congestion. In spite of good road connectivity, the locality suffers with major traffic jams, owing to the heavy commuter traffic that flows from the Nungambakkam railway station, and the busy stretches of Arcot Road and Nelson Manickam Road. The uncooperative mix of pedestrians and vehicle users, especially in the Choolaimedu Market area, is a menace for the residents.

 

The streets of Choolaimedu need reconsideration in terms of their height, to restrict the laid-over tar roads from tipping rainwater into homes. Overflowing garbage is another problem which has become a part of everyday life of the locality’s residents. A streamlined clearance of the garbage from several little dump yards has been demanded by the residents to ensure good hygienic conditions prevailing in the locality.

 

Factors for Growth in the Future

 

The ongoing metro construction in a number of areas surrounding Choolaimedu would be the solution to traffic congestion problems faced by the commuters plying the area. It will enhance connectivity too, translating overall to growth of the real estate market.

 

A number of multi-storey and high-rise apartment projects like Kay Arr Mahindra Serenity, Propshell Havana, StepsStone Sai Dharaa, Shree Kaja Flats, Color Nest, and Mudhra Ivory Castle will take the residential market of Choolaimedu to new heights, and will attract more residential and commercial investors to set camp here.