Old Mahabalipuram Road, OMR is popularly known as the IT corridor as it houses popular IT hubs and other growing workplaces. One can experience the paradigm of luxury living by investing in OMR. After the establishment of RERA, buyers have an advantage of transparent and clean transactions. If you are looking for a residential locality in Chennai to invest in, the spectacular neighbourhood of should top your list. Here are some convincing reasons as to why OMR is believed to be one of the best choices for investment:
OMR offers a plethora of options for homebuyers from affordable housing projects, budget apartments in Sholinganallur to luxury homes and villas. Read on to know why real estate investors are flocking this quintessential locality to find the home of their dreams.
OMR is a diversified economic and demographic base: It’s anchored by the automobile, software services, hardware manufacturing, healthcare and financial services industries. This vibrant economy creates ample job opportunities and has led to massive real estate development in the city.
IT And ITeS Hub
This area is rapidly converting into employment-generation clusters which are hosting various IT and financial services companies. This contributes to an increased opportunity for rental incomes for families and single occupancies.
Many builders have taken this route by reducing average apartment sizes and thereby bringing down the price. This is very convenient for millenials who are comfortable with the co-living idea.
Most apartment complexes come with plush amenities which makes it very convenient for office goers to not look beyond their township or community for any of their routine needs. The amenities include ATM,gyms, medical and general stores and even shopping malls. This enhances the living experience by making it both comfortable and fun.
OMR has a well-established public transport system. The entire stretch of OMR which includes Madhya Kailash to Navalur has great connectivity to the interiors of the city like Adyar, Guindy, and Saidapet. In addition to that, there is the presence of suburban railway services and bus services that offer effective transportation to every corner of the city.
Serene and affluent living
One part of OMR apart from budget friendly options also allows for serene luxury homes. This part is a perfect place where you can unwind in peace as it has serenading beautiful landscapes that offer breath-taking views.
Appreciation – investment worthy
Due to its infrastructure and its location, OMR has become an attractive investment option for MNCs, home buyers, real estate developers, and investors. Over the past five years, properties in OMR has witnessed the rapid appreciation of about 50 % and 21 % hike in property value.
Well-Developed Physical & Social Infrastructure
The main road is 6-lane and the interior roads are also broad and properly maintained. Driving is a pleasant experience in most parts of interior OMR, where most of the luxury villa projects are located. The social infrastructure is also well-developed, as some of the best hospitals, schools & colleges, shopping malls, etc. are located on OMR
If you are planning to make fresh investments, buying a second home on or near OMR could prove to be your best bet. Market trends show investing in real estate on OMR would help you earn better returns than any other asset class.
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