Sandwiched between Guduvanchery and Vandalur, Urapakkam is located on the GST Road (NH47). There are about 370+ residential properties, most of them are ready-to-occupy apartments and are occupied by families. There are umpteen apartments in the area that are constructed by reputed builders. The price range of apartments for sale in Urapakkam starts from 25L and goes up to 60L. The average apartment sq.ft. price in Urapakkam was Rs. 4000 in the H1 of 2019, within the H2 of 2019, the area has seen a price appreciation to Rs. 4450. This indicates the rapid growth of Urapakkam as one of the affordable places for residential apartments in Chennai.
Almost three-quarters of the inventory sold in Urapakkam is to first time home buyers. There are several reasons as to why new home buyers prefer to invest in Urapakkam, here are 10 of them.
#1. Location advantage
Urapakkam is conveniently located on the NH32, which connects Chennai on one side and the rest of South India on the other. Vandalur is only 2 km away from Urapakkam, moreover, Mahindra world city, Maraimalai Nagar industrial estate, SEZ, MEPZ and many other IT hubs are in the vicinity. It is no doubt that this suburb has started becoming a residential real estate hotspot; one main reason is its nearness to GST road, ECR, OMR, Sriperumbudur. Also, this makes it a perfect spot for the people who work in and around the area.
In the last 5 years, Urapakkam has seen a huge influx of people from all over the city. One reason being the closeness to the IT corridors the other reason would be that Urapakkam is connected to all the major areas of the city via road and rail. It is connected to the IT SEZ through the GST road. People travelling to the IT spots of OMR can also easily connect through this road. Urapakkam is also connected to the Chennai international airport through the NH32 which connects to the GST road. For most people who travel to other places for work closeness to the airport is a must. You can reach the airport within 30 to 40 minutes if you take the GST road from Urapakkam.
#3. Physical & Social infrastructure
Urapakkam is seeing a stable growth in the increase of public transportation. There is the Urapakkam railway station which connects to Tambaram, from there you can reach all of Chennai. You can also take the bus from Urapakkam to all the major areas in the surrounding. The roads in Urapakkam is also well maintained as it is a host to several residential communities. Many other initiatives for the proper maintenance of the streets are underway and expected to come to action soon.
Usually, when families buy a home to reside in a particular area it is ideal that they look for a place that has good social infrastructure such as schools, colleges, hospitals, recreational centres. This is also one of the main reasons for new home buyers to choose Urapakkam because it’s surrounded by all the necessary amenities required for kids and senior citizens as well.
#4. The growth rate of rental income in the area
Almost 20% of the people residing in Urapakkam are rental residents. People who come from other parts of the country to Chennai, mostly work in the IT sector. Due to the closeness of various IT companies, people prefer to rent homes in Urapakkam. If you are investing in flats in Urapakkam you can expect a steady rental income. The following chart will help you understand the current rental rates in Urapakkam.
#5. Price appreciation
There is a steady growth in the prices of properties in Urapakkam in the last 5 years. The current apartment prices in Urapakkam is Rs. 4550 per sq.ft approximately. With the projections by experts, it is expected to grow in the coming years.
Average price in Urapakkam is Rs. 4550-5500 per sq.ft. depending upon the area within Urapakkam. The maximum price in the area is itself affordable than any of the other residential apartments in Chennai, with the same advantages. That is why it is the most preferred by the people who wish to buy their new home at an affordable cost.
#7. Water in Urapakkam
Water supply, both bore and metro water, is one of the major issues in the city. Water supply in Urapakkam is seamless, to the home buyer’s advantage, and most of the areas have sweet groundwater within 25ft of depth. Good water supply is one of the reasons for the increase in commercial real estate in the area.
#8. Peaceful lifestyle for a family
As mentioned above, due to the affordable rates and fast growth of Urapakkam, there is a huge increase in the number of families buying their new home here. Apartments with multiple amenities provide a peaceful community lifestyle; this is also one thing people of Chennai look for in their new home.
#9. Green surroundings
The environment in Urapakkam is serene because of the lush greenery surrounding the area. 2 km from Urapakkam you can reach the Vandalur zoo which is filled with trees and is a huge fresh air provider to the areas around.
#10. Next mofussil bus terminus in Urapakkam
This bus terminus is a huge project that is underway in the Urapakkam-Vandalur area. It is an Rs. 394 crore project spread across a built-up area of 6.4 lakh sq.ft. and is expected to be completed by the end of 2020. This bus terminal will be a gateway to the southern parts of Tamil Nadu. When this project is being completed, the surrounding areas will surely see a huge appreciation in the property value.
So, if you are ready to buy a new home then there are several apartments for sale in Urapakkam that will be your best investment option. Choose Urapakkam, and enjoy the lifestyle and property appreciation that comes along.