Transformational Impact of the Chennai-Bangalore Expressway: Demand & Rates of the Plots for Sale In Chennai.

Spanning two powerhouse cities, Chennai & Bangalore, and connecting 3 major south Indian states, Tamilnadu, Karnataka & Andhra Pradesh, the soon-to-be-unveiled Chennai-Bangalore Expressway is going to rewrite the price & demand for the plots for sale in Chennai.

NHAI (National Highway Authority of India) is almost nearing completion with this project which is “Set to cut down travel time between Bengaluru and Chennai, from five-six hours to just 2.15 hours, making the journey faster & more efficient. It will also shorten the distance between the cities by 80 km & allow a speed limit of 120 km/hr,” says Anshuman Magazine, chairman & CEO - India, South-East Asia, Middle East and Africa, CBRE.?

Well, this will also bring a significant shift in the demand & price of the commercial, industrial, & residential plots for sale in Chennai. Let us explore through this blog, the positive impact of the Chennai-Bangalore Expressway on the plots available enroute.

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Spur in the rates of plots for sale in Chennai.

The expressway will drive growth for the commercial & residential plots for sale in Chennai, along the corridor. Further, the expressway’s connectivity to the city’s port through the ongoing Chennai Port-Maduravoyal Elevated Expressway will boost Chennai’s appeal as a logistics hub, driving further real estate growth.

Those looking to buy plots in Chennai in the areas alongside the expressway which include industrial hubs like Oragadam, Tambaram, Parandur, Sriperumbudur, & Mappedu will witness a significant hike in the prices of the plots for sale in Chennai. Other notable changes that the expressway will bring about are:

• Office rental rates will go up by 3-5% in the next few quarters in the key localities.
• Beginning from 2018 to Q2 Of 2024, the rates of the plots available in the city’s micro-markets have seen a notable increase.
• Chengalpattu has experienced a 38% hike, with sq ft rates increasing from Rs 3,450 to Rs 4,575 per sq ft.
• Oragadam has a 20& increase with prices increasing from Rs 3,740 to Rs 4,500 per sq ft.
• Sriperumbudur’s rates grew by 26%, from Rs 3,297 to Rs 4,167?per sq ft.?
• Arakkonam saw a 33% hike with prices moving from Rs 3,160 to Rs 4,187 per sq ft.
• Plots available in Kanchipuram increased by 32%, from Rs 2,850 to Rs 3,750 per sq ft.

Related: Explore Elephantine's Fast-selling Community Plots in Thirumullaivoyal

What’s in store for those looking to buy plots in Chennai?

• Improved inter-state and inter-city connectivity for the plots for sale in Chennai.
• Chennai & Bangalore as employment hubs will attract more FDI and Domestic Investment.
• Increased trade activities, distribution networks, & supply chains will boost the local and regional economies & logistics.
• Tremendous growth of supporting infrastructure like roads, hotels, & other amenities along the route.
• Boom in land prices of plots for sale in Chennai along and surrounding the expressway.
• Excellent investment opportunities for buyers looking for commercial/residential plots for sale in Chennai.

Planning to buy plots in Chennai at the prime locations with the best amenities & connectivity, head to Elephantine Enterprises website to partner with one of the top realtors in Chennai with an exclusive range of real estate services, under their umbrella.