Thoraipakkam

 

An upcoming residential locality gaining rapid momentum in the real estate market, is the southern suburb of Thoraipakkam, located 14 km from Chennai. The locality is best known for the Thoraipakkam-Pallavaram stretch that harbours large-scale housing development activities. This stretch makes for the connecting link between OMR and GST road. Both roads are known to have supreme growth due to the multitude of industrial and residential projects undertaken in these regions. Consequently, this stretch is also prone to developmental processes, and is overflowing with new housing ventures.

 

According to Recs Group, a Chennai based property advisory, Thoraipakkam-Pallavaram stretch was ranked as the number one locality in Chennai for realty investments, followed by Porur and Thirumudivakkam. The affordable property prices, along with the locality’s proximity to IT hubs, educational, and medical institutions is an added bonus that drives property demand from middle and upper income groups.

 

The micro-market of Thoraipakkam is surrounded by others such as Taramani, Perungudi, Karapakkam, and Sholinganallur. The 200-feet road stretch connects Thoraipakkam with Pallavaram and extends for close to 12 km. This road leads to the GST road on the left and OMR on the right. This stretch has benefitted surrounding localities rich in real estate value such as Chromepet and OMR. As a result, investors and developers are now turning here to enhance the infrastructure development of this area.

 

The locality already has a bountiful presence of infrastructure facilities in the form of commercial, residential, and educational institutions. Ceebros Boulevard, ASV Suntech Park, and Sishya School are examples of well-established institutions in this locality.

 

Key Projects in Thoraipakkam : 

Casa Grande Aldea

BBCL Ashraya

Sidharth County

 

Connectivity and Transit Points

 

Thoraipakkam has a resourceful set of roads situated all around the locality. The 200-feet road to its west connects this locality with Chromepet and OMR, which runs throughout Thoraipakkam, linking it with localities situated in the southern peripheral regions of Chennai. The Thoraipakkam-Pallavaram stretch in itself improves the road connectivity of localities having direct access to it.

 

Taramani Metro Station is the closest to Thoraipakkam, situated 6 km from this locality. Chromepet Railway Station is another prominent station located 12 km from Thoraipakkam and offering electric train services to various parts of Chennai. Chennai International Airport is 15 km from here, just a 30-minute drive away.

 

Public transport services such as buses, autos, and taxis are also commonly used, and provide accessibility to the heart of Chennai, as well as to the localities situated at extreme ends of the city, such as Anna Nagar.

 

Major Landmarks

 

●     ASV Suntech Park

●     Ceebros Boulevard

●     Coconut Grove

●     AKDR Tower

●     M&M Sports Village

●     TVH Park Villa

●     Sishya School OMR

●     St Pauls Church

●     Siva Temple

●     Akshara School

 

Factors for Growth in the Past

 

The geographical position of Thoraipakkam is what initially attracted developers and investors to tap the potential of this locality. Thoraipakkam-Pallavaram Radial Road extending to merge with GST Road, proffers an excellent road system that benefits people travelling on this road.

 

As the Thoraipakkam stretch is a segment of OMR, there is inevitable demand for residential property here, due to the presence of IT/ITeS companies along this highway. Employees working in the region sought homes that are affordable and close to their offices and Thoraipakkam was considered ideal in such cases.

 

The public transportation system in Thoraipakkam has been both rounded and resourceful right from the start. This served as another incentive that drew people to the outskirts of Chennai, as there was easy accessibility to the core of the city with well-established bus and train services.

 

Residential and Commercial Market

 

Residential Market

 

Most of the demand for residential property in Thoraipakkam is for multi-storey apartments and villas. Eminent businesspersons like to purchase independent houses in Thoraipakkam, as it is situated at a convenient distance from their offices.

 

The current prices here range between Rs 5,500 to Rs 6,500 per sq. ft., although property prices are constantly escalating in Thoraiapakkam. Land parcels for the purpose of constructing independent houses, are fetched at Rs 12 crores or less for large plot portions. There has been a marginal appreciation of at least 5% between the last quarter of 2013 and the April-June quarter of 2014.

 

Commercial Market

 

Commercial space trends range from Rs 3,000 per sq. ft. to Rs 1,000 per sq. ft., depending on the type of property and facilities provided. The sale of commercial properties in Thoraipakkam fluctuates between Rs 25 lakhs to 3 crores, based on the size of the property.

 

Major Challenges

 

The residents have recently been complaining about a dearth in the supply of bus services in this locality. Buses R 21 and V 21 connecting Thiruvanmyur to Perungalathur and Guduvancehry to Thiruvanmyur respectively, operate on this stretch but infrequently. Bus routes A 21 and A 21 V that connect Thiruvanmyur to Tambaram and Vandalur Zoo respectively, are more frequent but unreliable, as they are always overcrowded. However, a new bus route has been introduced. B 21 via Velachery links Broadway with Guduvanchery and if the frequency of this bus operation is increased, it would positively influence the residents of the region.

 

Factors for Growth in the Future

 

Depending on a preliminary study, Thoraipakkam is likely to see the development of Bus Rapid Transit System providing connectivity all the way up to Mahabalipuram. As the Thoraipakkam-Pallavaram stretch is the first segment of the 50-km OMR, this locality is sure to benefit from this project.

 

The State government has also allocated Rs 2,600 million for further developing the OMR stretch, as per the second phase of this project. A proposal to widen the road from four lanes to six has been made. Thoraipakkam will gain from this project, as it will directly influence the connectivity and thus, real estate growth of the locality.

 

A plethora of new residential projects in Thoraipakkam such as Casa Grande Palagio, Casa Grande Aldea, Sai Pranav, Harikeerthi, Surya Flat II, Inforich Divinity, and Green Marsh are also coming up in the Thoraipakkam. These residential projects are advanced, consisting of international level amenities. This will only enhance the real estate appeal of this growing locality.