The Significance of Kilambakkam Bus Terminus on the South Chennai Real Estate Market in 2023

 

• The Kilambakkam Bus Terminus in South Chennai has experienced remarkable development in recent years, primarily due to the transformation of the Old Mahabalipuram Road (OMR) and East Coast Road (ECR) into thriving IT hubs.
• The excellent infrastructure and strategic location of South Chennai make it an ideal choice for IT-ITeS, automobile, and manufacturing industries.
• Nearly 40% of the newly launched apartments in the city can be attributed to South Chennai's contribution.
• The substantial presence of numerous IT establishments, manufacturing units, inter-hubs, and special economic zones has played a pivotal role in driving the remarkable growth in southern Chennai.
• In recent years, South Chennai has witnessed an unprecedented surge in the construction of apartment complexes, establishing a record for the highest number of residential developments in the region.
• South Chennai has witnessed a significant surge in new launches, with the highest number of new properties being introduced in the area. Additionally, the housing sales in this region have experienced a year-on-year increase of 8%.
• The highest number of sales in plots occurs in South Chennai.
• Over the past three years, the South has experienced the highest number of launches and sales, accounting for a remarkable 66% of all housing sales.
• Over the past three years, the southern region has witnessed the highest number of property launches and sales, accounting for a significant 66% of all housing sales.
• The rapid expansion of infrastructure and connectivity in the region is anticipated to enhance the demand for real estate.

The Significance of Addressing Future Survival Demands

• South Chennai offers a distinct advantage as numerous suburbs in the area are strategically positioned along the IT corridors and industrial zones. This advantageous location ensures excellent coverage and accessibility. Furthermore, a significant concentration of IT industries can be found in South Chennai, solidifying its status as the city's IT hub.
• The completion of the Kilambakkam bus terminus project will have a significant impact on the transportation services in the area, greatly enhancing accessibility for all types of transport.
• The areas in close proximity, namely Vandalur, Tambaram, Guduvanchery, and Maraimalai Nagar, will greatly benefit from the services provided by CMBT (Chennai Mofussil Bus Terminus). These areas will experience significant advantages due to the accessibility and convenience offered by the CMBT services.
• The southern suburbs of Chennai, including Tambaram, Perumbakkam, Sholinganallur, Injambakkam, Thoraipakkam, Velachery, Guduvanchery, Pallikaranai, and Adayar, have experienced significant growth in the residential market. This can be attributed to the rise in commercial activity in these areas, making them highly sought-after residential destinations.
• This enhanced connectivity will prove highly advantageous for swift transportation within Chennai City, as well as facilitating seamless travel between various parts of Tamil Nadu and other cities.
• The housing market in south Chennai is experiencing significant expansion due to the arrival of numerous IT and financial services companies, as well as multinational corporations (MNCs).
• The proposed plan includes determining the optimal total number of buses, their coverage area, and frequency for efficient transportation.
• The exceptional connectivity will prove invaluable in accelerating the development and fostering the business expansion of this region.

Exploring the Features of the New CMBT: An Overview of the CMBT Bus Terminal

• Introducing the Impressive Kilambakkam Bus Terminus: A Comparison to Koyambedu
• The forthcoming Kilambakkam Bus Terminus, also known as the Mofussil Bus Terminus, spans an expansive 88.25 acres, making it ten times larger than the Koyambedu Bus Terminus. Conveniently located between Vandalur and Urapakkam, this ambitious project comes with a price tag of Rs. 394 crores.
• One of the standout features of the Kilambakkam Bus Terminus is its well-designed parking facility, capable of accommodating 350 buses simultaneously. Furthermore, a dedicated 9.9-acre area is specifically allocated for parking MTC Buses, while an additional 2 acres are set aside for motorcycles and bikes.
• In addition to its impressive infrastructure, the Kilambakkam Bus Terminus offers a range of amenities. These include ATM centers, medical shops, two restaurants, malls, and a total of 49 shops for various commercial activities. Moreover, a notable highlight of the project is the planned convention center, intended for displaying renowned goods from every district in Tamil Nadu.
• With its extensive size, thoughtful planning, and diverse facilities, the Kilambakkam Bus Terminus promises to be a remarkable addition to the transportation infrastructure in the region.

The Significance of Enhanced Area Connectivity: A Catalyst for Development

• The Upcoming CMBT at Kilambakkam Bus Terminus: Enhancing Connectivity and Commutation
• The forthcoming Kilambakkam bus terminus, known as CMBT, is set to revolutionize transportation in Chennai. Covering significant destinations within the city and providing services to various states in Tamil Nadu and other parts of India, it will play a pivotal role in the area's overall development.
• By 2025, the completion of the metro phase II project will establish seamless connectivity between the airport and Kilambakkam bus terminus, further facilitating travel for commuters.
• Additionally, the ongoing conversion project of the 2-lane to 4-lane GST-OMR road is scheduled for completion in 2022. This development will enhance the routine bus services, including those to Pondicherry and OMR, along this stretch.
• The Perungalathur flyover, anticipated to be ready in 2022, will provide improved accessibility in the vicinity.
• Furthermore, the proximity of the Outer Ring Road, Maraimalainagar Road, GST Road, and Maduravoyal-Tambaram bypass road will significantly enhance connectivity and mass transportation between these areas, benefiting people from all walks of life.
• In 2025, the completion of the monorail project connecting Vandalur, Puzhal, and Velachery will further enhance the coverage and accessibility offered by CMBT, thereby supporting various businesses and transportation needs in and around the region.
• This service will prove particularly beneficial for IT and business professionals residing in Guduvanchery, Maraimalai Nagar, and Tambaram, providing them with efficient and convenient transportation options.

Advantages of the Upcoming CMBT Bus Terminus: Favorable Factors Boosting Connectivity and Development

• Advantages of the Area: Enhanced Infrastructure and Connectivity
• The area benefits from its strategic location, boasting improved infrastructure and exceptional connectivity. The presence of nearby metro stations ensures seamless commuting between different modes of transportation, facilitating convenient travel for commuters.
• Moreover, the region offers excellent social infrastructure and well-connected internal roads that connect to surrounding areas. This ensures easy access to various amenities and services. Additionally, the area provides a delightful shopping experience with a diverse range of shops and malls.
• The educational needs of students are well-catered to with numerous esteemed CBSE schools, government schools, and professional/arts colleges in the vicinity. Recognizing the future demand, several CBSE schools have already begun establishing branches in the developing inner areas.
• Residents can rest assured about healthcare services, as the area boasts several renowned hospitals and healthcare centers, ensuring prompt emergency assistance.
• Convenience is further enhanced by the presence of reputable banks and ATM centers, facilitating hassle-free financial transactions.
• The area offers excellent connectivity to nearby malls and entertainment facilities, providing ample recreational options.
• With the presence of IT industries, automobile industries, and other sectors, as well as proximity to employment centers, the region is a promising hub for job opportunities.
• Ongoing developments in nearby developing and suburban areas indicate continuous social and physical infrastructure growth in the future.
• Investing in the area holds the potential for high-value appreciation over time, while also offering quick liquidation options.
• Furthermore, the region provides budgetary options that cater to individuals across all income brackets, ensuring a wide selection of plots to choose from.

The Impact of an Eco-Friendly Environment

• The allure of clean air and natural splendor entices many to opt for a joyous and healthy lifestyle.
• The presence of expansive open spaces adorned with numerous trees, lakes, and gentle mountains ensures an abundance of fresh, unpolluted air to breathe.
• Water, being an essential requirement for daily life, holds utmost importance.
• The existence of lakes and the availability of ample water in the vicinity bring joy to people, as they choose plots in this area to escape water scarcity concerns.

Unprecedented Growth Potential in the Real Estate Sector

• The substantial rise in population and the escalating demand for residential spaces will drive significant growth in the real estate industry.
• Construction activities will gain momentum as they commence the development of apartments and individual houses in various locations within this area.
• The availability of multiple plots in different sizes and locations empowers individuals to select the most suitable option for their future needs.
• Favorable square footage rates provide flexibility for people to choose between individual plots or apartments based on their expansion plans.
• Today, individuals are increasingly recognizing the importance of balancing present requirements with future expectations.
• As the central areas of Chennai reach saturation, new developments are emerging in developing and suburban regions.
• Existing Companies with expansion possibilities

1. Zoho company
2. Mahendra Ford company
3. Cognizant company
4. TCS Company
5. Intimate fashions
6. Infosys company

Upcoming New Companies / Projects

• Capita Land India, a company headquartered in Singapore, is set to launch the "Pallavaram Tech Park."
• The Tidco - Financial Tech City initiative will feature international banks and stock exchange centers.
• The availability of spacious areas at competitive prices is attracting a multitude of IT and various other industries and offices to establish their operations.
• Enhanced connectivity and transportation options are making it easier for developers to persuade buyers to choose plots for sale.

Conclusion

South Chennai emerges as a thriving real estate destination, propelled by its strategic bus stand location, which paves the way for the swift growth of new areas. With the inclusion of essential amenities such as schools, colleges, hospitals, and civic facilities, these areas become highly appealing to prospective homebuyers. This well-developing region promises to fulfill the diverse needs of future generations, establishing itself as an ideal location. The real estate market in Chennai witness’s substantial growth, fueled by expansive development and thriving commercial activities. Recognizing the advantages of the area, the top builders in Guduvanchery have a profound understanding of the location and its potential.

Discover the Impact of Kilambakkam Bus Terminus with Chennai's Best Plot Developer - Wisdom Properties

For comprehensive information on the impact of the Kilambakkam Bus Terminus and its influence on the real estate landscape, it is highly recommended to get in touch with Wisdom Properties. As one of the best plot developers in Chennai, Wisdom Properties possesses extensive knowledge and expertise in the local market. With their deep understanding of the area, they can provide valuable insights into the advantages and opportunities presented by the Kilambakkam Bus Terminus. Whether it's understanding the potential for property appreciation, exploring investment prospects, or identifying the most promising development projects, Wisdom Properties is well-equipped to guide individuals and investors towards making informed decisions.

As the leading plot developer in Chennai, Wisdom Properties offers unparalleled services and expertise in the real estate sector. Their years of experience, coupled with their commitment to excellence, have established them as a trusted name in the industry. With a focus on delivering the best plot development projects in Chennai, they ensure that their offerings align with the evolving needs and preferences of homebuyers and investors. By partnering with Wisdom Properties, individuals can tap into their extensive network, receive personalized assistance, and gain access to the finest plots available in Chennai.