GST road: SEZ corridor of Chennai
Chennai- The Grand Southern Trunk (GST) road or National Highway 45 (NH-45) in South Chennai is a 472 km stretch which is evolving into a prime realty market. It has gained popularity due to integrated developments, SEZs and good connectivity to other parts of the city.
Overview
GST road starts from Kathipara junction in Guindy extends up to Theni. It is one of the busiest National Highway in South region. It is a four lane highway which is being planned to convert in to six lane.
Chennai Airport and various suburban destinations are located along the road. Chennai and Trichy are one of the two important cities which are connected to this highway.
The highway has also many motels and restaurants along the entire belt, for instance five-star hotels Le Royal Meridien, Trident Hilton, Radisson GRT etc.
SEZ development
GST road has emerged as the SEZ corridor of Chennai which houses numerous SEZ projects. It includes MEPZ SEZ, Mahindra World City, New Chennai, Shriram’s Gateway SEZ, Estancia SEZ, ETL Infrastructure and India Land SEZ offering huge employment opportunities across the IT/ITeS, Auto and Auto Ancillary and Apparel sectors
The stretch is also witnessing large investments by India Land and Infosys. India Land Tech Park is developing huge 500 acre SEZ having office space for Electronic and IT use. Mahindra SEZ houses largest development centre of Infosys.
Shriram’s Gateway SEZ is an integrated township with IT/ITeS SEZ residential and mall. It is also home for many IT companies like Mahindra Satyam, Accenture etc.
One of the major developments on this road was Ford India’s manufacturing plant at Maraimalai Nagar.
Residential development
Localities around GST road has witnessed a major increase in terms of inquiries, buyers interest and conversions as compared in 2012. There is a little variation of price in various residential destinations such as Chromepet, Pallavaram, Tambaram, Vandalur, Maraimalai Nagar and Singaperumalkoil along GST Road.
The micro-markets of Pallavaram, Chromepet and Tambaram have seen price appreciation of over 10 percent during the last twelve months. Chrompet and Tambaram have reported redevelopment projects tagged between Rs 4000 per sq ft to Rs 5000 per sq ft. Pallavaram has witnessed development of higher-mid segment projects priced between Rs 5,200 per sq ft to Rs 6000 per sq ft. The above value depends on the location, builder and specifications.
Some of the latest residential projects along the belt are Mahindra Aqualily, AV Gardens, Estancia, Boulevard Villa, New Chennai City, Meadow Vile, Cynosure, Royal Town, Iris Court etc.
Traffic
The region witnesses high traffic at night, specially between Chennai and Trichy. As per traffic volume, the region can be classified in three parts.
Heavy Traffic- The region between Guindy to Chengalpattu and Ottivakkam to Trichy.
Moderate traffic- Between Trichy to Dindigu witnesses moderate traffic.
Low Traffic- Between Dindigal to Theni.
Road improvement projects
The government is carrying out numerous infrastructural project on this highway to reduce traffic congestion. Some of them include several rail over-bridges over the railway crossings on the highway, road over-bridges along the Chennai Meenambakkam Airport road etc. Construction of six lane highway is under construction between Tindivanam and Trichy.
Experts opine that the stretch will report more growth in coming quarters.
Related Real Estate News:
ECR: A luxury residential hub
Porur: Emerging real estate destination
Chennai, Estancia SEZ, ETL Infrastructure, GST, GST real estate, India Land, Mahindra World City, MEPZ SEZ, New Chennai, NH-45, Projects on GST, property prices in Chromepet, property prices in Pallavaram, property prices in Tambaram, Redevelopment projects, Shriram's Gateway SEZ, Traffic at GST
