Buying apartments in OMR is one of the smartest moves that you can actually make. There is rampant demand for housing solutions along this stretch called the Old Mahabalipuram Road or Rajiv Gandhi Salai. IT development fueled the real estate progress and demand in this stretch, particularly between Siruseri to the Madhya Kailash Junction and this has continued in recent times. The OMR is also called Chennai’s IT corridor. There are several residential projects in the area and demand is high since employees at companies like Cognizant, TCS and HCL are keen on buying property in this stretch near their workplaces.
Finding apartments in OMR is not difficult since supply levels have kept pace with demand largely in the area. Additionally, over pricing and saturation are a thing of the past in the area since prices have stabilized somewhat. Several mid range and luxury apartment projects are being constructed in this stretch which are priced between INR 40 lakhs to INR 1 crore. OMR is steadily transforming into a high end market with several buyers snapping up luxury apartments in the location. One of the biggest developments along this corridor is the proposed township of 1500 acres for Japanese investors in Thiruporur which will further boost overall IT progress and employment in the region. This will also lead to an appreciation in prices and will also boost demand hugely.
The Government has prioritized sewage and water connections and civic infrastructure is relatively good along this stretch. There are several major developments in the stretch including the Financial City at Sholinganallur, TCS’ biggest Asian building at Siruseri SIPCOT, railway link between Taramani-Cuddalore through Pondya, Mamallapuram and Thiruporur and the Sports City at Thiruporur and Kalavakkam. A new bypass between Siruseri and beyond the Kelambakkam Junction is a major connectivity driver in the stretch. OMR is billed to be the very crux of Chennai city within the next 10 years. There are several flyovers along the stretch to decongest traffic and boost connectivity as well. There are several integrated gated residential townships being built in the region which will also boost overall development in the next few years.
There are several reputed educational institutions in the area including the PSBB Millennium School, Abacus Montessori School, Padma Seshadri School, Delhi Public School and the DAV CBSE School among others. Buyers are also attracted by the fact that sea facing apartments can still be bought in OMR, something which is next to impossible in most other parts of the city.