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You are here: Home Property News >> Chennai Smart city tag may help Ponneri realty

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Smart city tag may help Ponneri realty

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editor | August 13, 2014 @ 01:08 PM

Article
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CHennai real estate Tamil Nadu SIPCOT smart cities
SIDCO 400 ft ORR CREEAA

5
Recom m end

Tw eet

budget 2014 arun jaitley ponneri industrial corridor

Em aar MGF receiv es OC for

Em erald Hills

In the Union Budget 2014-15, Ponneri is one of the

three smart cities envisaged under the ChennaiBangalore Industrial Corridor. Due to which there is
renewed interest in this area of North Chennai.

Worli em erges as new

luxury destination in
Mum bai

Check out a range of properties in Ponneri!

As of now, Ponneri has residential plots starting at Rs
1.5 lakh with a size of 650 sq ft. Prices of these plots
go up to Rs 25 lakh for a freehold, south-facing plot
of over 2,000 sq ft. The apartment culture has not
yet taken over Ponneri, unlike the peripheral areas in
South Chennai like Sriperumbudur. One can come
across independent houses and a large number of
plots, which are preferred in this area, says G
Sreekrishnan, former secretary of Chennai Real
Estate Agents Association (CREAA) and proprietor,
Sreeguru Realtors.

Mum baikars, dont expect

relief in 2 01 0-1 4 property
tax

Pan India Real Est at e News

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im plications when y ou sell a
house

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of the hour in Chennai
The glass house

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bullish on Indian real estate

Does the tag of Smart City make

Ponneri a desirable address? While opinions differ, all of them seem to agree that Ponneris potential
for investment needs to be explored. Sreekrishnan says, North Chennai, despite enviable
connectivity, has not progressed much. Except for industrial expansion, the residential sector has not
grown much as only the labour segment lives here. Ever since the finance minister announced
plans for smart cities, there has been a visible momentum within the local property market.
Although most of the enquiries are from investors, residential inquires have also picked up.

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The tag of a Smart City may work wonders in the long term. While industries throng to Ponneri, it
may open up job prospects and simultaneous housing demand for many
The 400-ft Outer Ring Road construction connecting Nemilichery to Minjur has recently
received a green signal. Along with the first phase that linked Vandalur to Nemilichery, on
completion phase two would ensure connectivity to NH-4, NH-5, NH-45 and NH-205 facilitating
trade and transport
Affordable land costs could also be a determinant. Compared to most localities within Chennai
city limits, Ponneri is inexpensive. Compared to industrial land prices in areas like Sriperumbudur
which is at a similar distance, in South Chennai you would find large sized plots almost for half the
price in Ponneri, says Amarinder Kumar, owner, Mainland Properties
Ponneris potential as a tourism destination also means that the locality awaits a push towards
development. The locality is also an easier route for pilgrims going to Tirupati from Chennai. Among
other attractions, Ponneri boasts proximity to Lake Pulicad and Murugan temple
Apart from the local work hubs in Ponneri, Gummidipundi SIPCOT and SIDCO Industrial Parks,
barely 11 km from Ponneri is also a growth corridor in terms of the job market. State run bus
services ensure frequent public transport. Small businesses also thrive and non-local businessmen
have migrated to Ponneri due to affordable land costs

What needs a face lift?

While enthusiasts may hail the agenda of smart cities, trend watchers like Sreekrishnan and Kumar
are awaiting a clear picture. While it is clear that Ponneri is to be developed as a smart city, most
realtors are awaiting land acquisition. In the mean time, home buyers want a clear picture of the
primary market so they can start investing, says Sreekrishnan.
EXPAND

Social infrastructure requires a thorough makeover. For hospitals, most residents in Ponneri travel
to Red Hills, almost 12 km from Ponneri. Although a few schools dot this area, the social fabric is
not appealing, informs Kumar.

While the Japanese International Cooperation Agency works on the master plan of developing the
smart city over 3000 hectares, other small to midsized industries are gradually making their
presence felt in Ponneri. Realtors are of the opinion that so far this untouched land bank, despite
ample potential, has been ignored as a growth corridor. Consequently, the residential segment hasnt
developed much.
With the primary market looking up post budget in Ponneri, can we expect this area to emerge as a
desirable address? Time will tell.
Sneha Sharon Mammen, Magicbricks.com Bureau

Must Reads

Sneha is a real estate market research enthusiast and is currently part of the content and research
team of Times of Indias property wing- Magicbricks

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