Chennai's IT Corridor Expansion: How Tech Growth Fuels Housing Demand
Chennai's Old Mahabalipuram Road (OMR) – the city's IT backbone is seeing a big change. This 45-kilometer stretch, once a quiet suburban route, now hosts tech giants, SEZs, and many residential projects. Let's see how this tech boom changes housing.
Key Drivers of Housing Demand
1. Proximity to IT Hubs
OMR is home to Tidel Park, DLF IT Park, and SIPCOT IT Park – places where many professionals work. People want to live close to these places to save time on their commutes, leading to demand for apartments and gated communities.
2. Infrastructure Overhaul
- Metro Expansion: New metro lines between Taramani and Siruseri SIPCOT (2025–2028) will enhance connectivity.
- Road Upgrades: Flyovers, widening roads, and better access to Chennai International Airport improve liveability.
3. Rental and Investment Appeal
Areas like Thoraipakkam and Sholinganallur see rising rentals due to their closeness to IT parks. Investors target Perumbakkam and Navalur for high ROI, taking advantage of expected metro-linked growth.
Market Trends: Prices and Developer Projects
Residential prices along OMR have gone up by 8–12% annually due to limited supply and growing demand. Developers like TVS Emerald and DLF are launching premium projects with amenities like pools, gyms, and smart home features.
| Area | Price Trend | Key Developments |
|---|---|---|
| Sholinganallur | +10% YoY | Mixed-use townships near SIPCOT |
| Perumbakkam | +9% YoY | Affordable housing clusters |
Future Hotspots to Watch
- Navalur: Becoming a mid-tier hotspot with affordable housing and planned infrastructure upgradation.
- Siruseri SIPCOT: Expected demand surge after metro Phase II completion.
- Karapakkam: Balancing affordability with proximity to IT hubs.
Challenges in Balance
Despite growth, OMR faces:
- Infrastructure Overload: Narrow roads and flooding issues in the monsoons.
- Regulatory Gaps: Violations in building codes and CMDA compliance uncovered in 2,513-building inspections.
Residents are urging the Tamil Nadu government to address these gaps, emphasizing sustainable urban planning.
The Road Ahead
OMR’s growth depends on balancing development with infrastructure. Upcoming areas like Perumbakkam and Karapakkam will benefit from metro connectivity, while established hubs like Sholinganallur will remain prime investment zones. As Chennai’s tech sector grows, OMR will likely solidify its role as India’s southern real estate powerhouse.