Enhanced Connectivity Boosts Iyyapanthangal's Real Estate Growth
Iyyapanthangal in Chennai has emerged as one of the most desirable destinations in the city, thanks to the ongoing infrastructure development in the area. This growth has significantly improved connectivity, making it a prime location for real estate.
Connectivity is a key consideration for home buyers. Once they are assured that a residential property is situated in an area with excellent connectivity, their confidence is bolstered, leading to swift purchases. This trend is currently noticeable in Iyyapanthangal.
Location and Connectivity
Iyyapanthangal, situated in the Sriperumbudur Taluk of Kancheepuram district, has made its mark on Chennai's real estate landscape. This is primarily due to its enhanced connectivity and infrastructure development.
The area enjoys superior connectivity, situated between the Bangalore Highway and the Grand South Trunk Road, providing convenient access for residents.
Impact on Property Prices
Connectivity and infrastructure improvements have a substantial impact on property prices, causing them to rise daily. The average capital value for properties in Iyyapanthangal ranges from Rs. 4000 to Rs. 6000 per sq. ft. Additionally, rental rates in the area are also increasing.
Buyer Preferences and Market Demand
According to Mr. M R Sriram, Managing Director of Royal Splendour, a majority of buyers (approximately 70%) prefer 2 BHK apartments in the area.
Strategic Location and Demand
Iyyapanthangal’s proximity to the Sriperumbudur industrial belt and DLF SEZ has driven demand, especially among professionals working in these areas. Currently, there are only a few ready-to-move-in residential apartments available, which has further escalated the property demand.
Attraction for End-Users
End-users are attracted to the location's well-developed social and physical infrastructure, including good schools, professional and higher educational institutions, hospitals, and healthcare facilities. The construction of quality roads has also played a vital role in Iyyapanthangal’s growth, making it an attractive development site for many real estate developers in the area.