AREA FOCUS - EXPANDING HORIZONS

Alwarthirunagar, located between Valasaravakkam and Virugambakkam, is a quieter locality with developed social infrastructure and amenities

Our city has been see ing a new wave of activities with respect to real-estate development and redevelopment.And in this process of expansion, offshoots of prominent areas are emerging that are accommodating Chennai's expanding contours. Various areas of west Chennai witnessed steady growth in the last few years, some of which include Padi, Maduravoyal, Mogappair, Anna Nagar and Vadapalani. Areas around Ashok Nagar and Vadapalani too witnessed a lot of development and Alwarthirunagar is one such area, in close proximity to these areas, that was developed in 1990s. “Although houses came up in the 90s, it developed as a residential catchment only before 16 years,“ says Ananth Vummidi, managing director, BCCL.Located between Valasaravakkam and Virugambakkam, many prefer the area to escape the dense population of the adjoining areas. It also has other advantages.Elaborating on some, A Shankar, national director, head of operations strategic consulting, JLL, India, says, “It is surrounded by dense residential catchment, meaning residents here will have access to all the big facilities that developed parts of the city does. Arcot Road is one of the emerging high streets with several prominent brands.Residents here have access to all these developments. Also, it is in close proximity to the IT hub at Porur.“

Buyers interested in settling at a calmer place and yet within the city can look at Alwarthirunagar as a possible locaiton. S Sumathy, marketing manager at StepsStone confirms this, “Areas around Alwarthirunagar include Vadapalani, Valasaravakkam, Virugambakkam, Ashok Nagar, KK Nagar and Porur. All these areas are well-developed, but they also see a lot of clutter in terms of space. But this place is seeing a balanced and planned growth. This is perhaps the reason why there is demand for homes here. This demand has fuelled realtors to develop projects in this locality.“

Though it is a late entrant to the list of neighbourhoods in west Chennai, the social infrastructure in the area is also quite sound. It has reputed English convent schools, private speciality hospitals and clinics, super market chains among other things.“Malls like Forum Vijaya Mall, the third largest mall in Chennai, is very close to the area, which takes care of entertainment needs for its residents,“ says Shankar. The connectivity to the locality is also good.“There is a bus depot for the area, from where buses connect to various parts of south Chennai. Ashok Nagar, the closest metro station, connects Alandur and Koyambedu,“ says Vummidi. He adds that vast green cover around it a unique locality to invest in, and suggests that it can be made into eco-park.

The price of residential units at Alwarthirunagar ranges from `8,000 to 11,500 per sq ft depending on the type, amenities and specifications provided. Shankar informs, “The rental prices for the budget apartments range from `8-12 per sq ft whereas the high-end projects offer a rental range of `15 20 per sq ft. The supply of organised commercial space is low. The quoted rentals vary from `38 -44 per sq ft.“