Poonamallee

The locality of Poonamallee, not to be confused with Poonamallee High Road, lies in West Chennai. The name Poonamallee can be roughly translated to mean “the place where jasmine grows”. The locality has an equally rich cultural heritage with a number of temples and legends.

The social infrastructure in this area envelops a number of good hospitals, clinics, nursing homes, and doctors’ chambers. Armed with strong healthcare infrastructure and educational institutes, like St. John’s International Residential School, Saveetha Dental College, and SA Engineering College, Poonamallee is all set to become a big realty hub in the future.

Key Projects in Poonamallee : 

Connectivity and Transit Points

One of the winning features of this locality is its smooth transport system. The most popular mode of public transport here are the buses, both State-run and private. Auto-rickshaws are the next most popular mode of travel. The Chennai MTC buses connect Poonamallee with other parts of Chennai, like Anna Square, Vandaloor Zoo, Red Hills, Broadway, T. Nagar, and Tambaram. Chennai Mofussil Bus Terminus (CMBT) is at a distance of just 13 km from Poonamallee.

Although the railway station nearest to Poonamallee is Avadi Railway Station, Chennai Central, which is 24 km away, is the major railway terminus catering to the long distance needs of the residents of this locality. Chennai International Airport is just 19 km away from here.

Major Landmarks

●     Shiva Temple

●     Gokulam Pavillion

●     Bhagavati Theatre

●     ACS General Hospital

●     Three Old Traditional C Churches

Factors for Growth in the Past

Owing to its strong social and physical infrastructure and rich cultural history, this locality has been able to build up a good name for itself in the real estate market. It also owes its success to the presence of the offices of many reputed companies, like Indialand Techpark, Asian Paints, Motorola, Nokia, Samsung, Hyundai, Saint Gobain Glass, and Dell. In addition, the influence of the nearby IT parks and SEZs like DLF and L&T Infotech has also strongly influenced the young IT crowd to settle close by.

The construction and completion of the four-lane state highway was yet another major factor. Being located on one end of the famous Mount Poonamallee High Road, as well as being easily accessible by the NH-4 and the state highway, has also contributed to the locality’s development.

Being close to the prime residential areas of Anna Nagar and Porur has also helped this locality, as the sale and rent prices in Poonamallee were relatively more affordable.

Residential and Commercial Market

Residential Market

The residential market in Poonamallee consists mostly of multi-storey apartments, followed by independent houses and residential plots. The apartment prices fall within the bracket of Rs 3,800-4,300 per sq. ft.

Commercial Market

The commercial market is thriving in Poonamallee. Though not as prolific as the residential one, this market mostly consists of commercial buildings and warehouses. The warehouses are a lot cheaper, falling in the cost bracket of just Rs 1,500-2,000 per sq. ft., whereas the commercial buildings and office spaces are pricier, at Rs 8,000-10,000 per sq. ft.

Major Challenges

Traffic woes! This locality faces the most congested traffic jams in the city, especially the area in front of the bus depot. Add to that the ever-increasing problem of illegal encroachments on the pavements. The pedestrians are stuck between snarling traffic jams on one side and fully occupied pavements on the other.

The drainage system in Poonamallee is also a cause of worry. In some parts of the locality, the big storm water drains lie unfenced and uncovered, posing a big risk to the residents’ health. Especially during rainy season, when the streets are overflowed with drainage water, it’s hard for people to see where these drains start. In fact there have been instances where people have fallen into them.

Factors for Growth in the Future

The locality offers both the investment potential of price appreciation and good connectivity, with ample resources. The market is almost equally end-user and investor driven, with the scale tilting towards the latter.

The overall infrastructure of the locality is constantly on the upswing. For example, once the ORR is fully constructed and accessible from this locality, it is expected to bring a further capital appreciation of almost 100 per cent within the next two years. It’s no wonder that real estate giants like Godrej Properties, Chandru Gardens, Kaalash Foundations, and Roma Housing have launched a number of residential projects in Poonamallee.