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Velachery: A Developed Real Estate Haven

Velachery, previously known as ‘Vedasreni’ meaning ‘abode of vedas’, is a residential area in south Chennai and is a prime locality for commercial and residential real estate demands.

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Velachery: A Developed Real Estate Haven

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  1. Velachery: A Developed Real Estate Haven BY Thomas Andrew

  2. Chennai is enjoying its status of being the fourth largest metropolitan city in India; And, the way IT companies are emerging in Chennai; it is obvious that the real estate market is not far behind. Since most of the IT companies are setting up their operations on the OMR (Old Mahabalipuram Road), Velachery is becoming known as the best residential investment hub. Velachery, previously known as ‘Vedasreni’ meaning ‘abode of vedas’, is a residential area in south Chennai and is a prime locality for commercial and residential real estate demands. Perungudi,Tambaram, Adyar Medavakkam Adambakkam TaramaniThiruvanmiyur Velachery

  3. Velachery is well-connected to all parts of the city through its extensive transport network system. The main means of transport are the train, bus and share auto. The Mass Rapid Transport System (MRTS) originates at Velachery, passes through all the major locations of Chennai and ends at Chennai Beach. Velachery is a junction that connects to three arterial roads: Velachery Main Road that connects to south Chennaiand Mount Road. Taramani Link Road connects to MGR Salai, which in turn connects to the OMR Velachery Bypass Road connects to Guindy in the north-east. Apart from this, Velachery is included in the proposed Monorail plan connecting Velachery to Vandalur. Having such wide-spread connectivity and close proximity to the IT corridor of OMR, Sholinganallur and the SEZs in Medavakkam, Velachery is rapidly becoming a popular destination to invest in apartments in Velachery.

  4. Velachery is proud to have some of the best and reputed schools in its surroundings: PonVidyashram, DAV Matriculation School, Sunshine Chennai Senior Secondary, Sri SankaraVidyalya, and Gurunanak Matric Higher Secondary School among others. Good colleges here include the GurunanakCollege, Jerusalem College of Engineering, Perumal Engineering College, and Balaji Dental College and Hospital. Leading hospitals are Kamakshi Memorial Hospital in Pallikaranai, Xcellent Care Hospital, KS Hospital and Appasamy Krishna Hospital. There is also a rapid growth of commercial real estate. A number of new commercial projects are ongoing in this locality as the area offers commercial spaces for malls, showrooms and good retail shops. Phoenix Mall is the largest mall in Chennai. The Grand Mall is under construction and will be open soon.

  5. The prime reason for flourishing real estate is the proximity to IT companies like TCS, Sutherland Technologies, ZOHO, Allsec Technologies and to the OMR, which is the gateway for the IT world. There are already a good number of builders in Velachery who have made a prominent niche for themselves. The housing area comprises of flats, township and Villas in Velachery with state-of-the-art amenities and facilities like club house, gymnasium, 24-hour power backup, security, intercom, community hall, and much more. The average price for a flat for sale in Velachery is Rs 7200 per square foot and rent may cost around Rs 19 per square foot. Residential houses may cost approximately Rs 7261 per square foot. In the last few years, the real estate market has swiftly been appreciated in Velachery; and there is scope for even more upswing in the near future. Ref: http://www.baanyuan.info/velachery-a-developed-real-estate-haven/

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