Chromepet – a prominent micro-market with immense realty potential
One of the most prominent South Chennai locations, in terms of significant realty potential, is Chromepet — a locality which has the Grand Southern Trunk (GST) road passing through it.
One of the key factors which make the Chromepet micro-market an affordable residential hotspot in South Chennai is the locality’s close proximity to IT hubs at OMR and Thuraipakkam. In addition, the GST further enhances the residential potential of the locality by giving it convenient connectivity to Chennai’s other micro-markets and also to other big cities.
According to CommonFloor Real Insights, Chromepet not only benefits from the ‘connectivity’ factor, but is also a preferred realty destination – in comparison to other micro-markets in Chennai – on account of cost of living, infrastructure, good living conditions, and expected developments in residential property in the future.
As per the CommonFloor data, multi-storey 2BHK apartments top the list of ‘most preferred’ residential units – for rental as well as purchase purposes – in the Chromepet area.
With regard to appreciation of property in Chromepet, CommonFloor statics show that property prices in the locality have witnessed a notable 35 percent increase since 2009; with the upcoming Metro project – scheduled for completion next year – to further fuel real estate growth in the area in the coming years.
Source – Deccan Chronicle
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