In last few years, it has become increasingly obvious that Chennai’s residential real estate market is not just limited to its posh localities. It is, in fact, also expanding to the smaller suburbs which are strategically located and have remarkable facilities.
Kolathur is one such suburb.
It boasts of good amenities and relatively low prices, when compared to southern localities in the city. After Ambattur, Kolathur is the fastest growing locality in north Chennai. It is strategically located- being in close proximity to Anna Nagar, Villivakkam, Puzhal and Madhavaram, . Its neighbors include Vajjiravel Nagar, Perambur, Vinayagapuram, Korattur, Jawahar Nagar, Thiru-vi-ka Nagar, Sakthivel Nagar and Periyar Nagar.
Connectivity is good as the Inner Ring Road passes through Kolathur. Anna Nagar, which is two kilometers away, can be reached in five minutes. A 200 feet road and an Expressway connect Kolathur to south Chennai. The closest railway stations are Villivakkam and Perambur Loco Works, which are a boon to residents of Kolathur flats. Bus stands can be found at every turn; some of them are Vinayagapuram, Kumaran Nagar, Phoompukar Nagar, MMDA and Srinivasa Nagar. Kolathur is close to the Grand National Trunk Road (NH5), which connects it to Kolkata and the Chennai-Hyderabad Highway.
Having well developed social infrastructure, with several schools and banks nearby, has increased the demand for flats in Kolathur. Some of the good schools here are Everwin School (Matriculation and CBSE), St. John School, Don Bosco School and Vivekavanda Vidyalaya. A few reputed banks like Indian Bank, ICICI Bank, State Bank of India, Axis Bank, HDFC and Canara Bank have opened their branches here, and ATMs of all major banks can be found here as well.
For the shopaholics out there, the inauguration of Spectrum Mall- which is just a few kilometers away, will come as good news! S2 Cinema is a major attraction while retail bigwigs include Big Bazaar, Gini and Jony, HP, Pantaloons, Bata, Megamart and Raymond. Foodies can rejoice too, as a number of cuisines are up for grabs, courtesy a plethora of restaurants.
Most importantly, there is no shortage of basic amenities like water, electricity and healthcare in this suburb. Leading healthcare institutes that are located close by include DRJ Hospital, Sri Kumaran Healthcare and the Government Hospital.
Demand for Real Estate
Residential demand is majorly driven by professionals working in various IT parks and companies (India Land IT Park, Tata Consultancy, Ambit IT Park, HCL, etc) in surrounding areas. Another reason for its demand is that it is one of the best residential locations near Ambattur Industrial Estate.
Connectivity to south Chennai is via 200 ft road and the Expressway.
Some of the prominent builders in Kolathur suburb are Le Royale Foundation, Srivarie Foundation, P dot G Constructions and Chandrasekhar Builders. Smaller builders include KS Builders, Masago Constructions, Shyam Foundations and Avenue Home and Relators are popular in this locality. Features like badminton court, gymnasium and swimming pool are generally provided by bigger builders like Sare Homes. A few upcoming projects are Royale Monarch and Leroyale Levesque by Le Royale, Avenue Vasantham, Avenue Shubham, Avenue Navin and Avenue Santhosh by Avenue Home and Relators.
The average price of residential plots in Kolathur is Rs. 37,959 per square feet and flats for sale in Kolathur cost Rs. 4,545 per square feet. The rent rate is approximately Rs. 11 per square feet. As per recent reports, the demand is more for properties in the range of Rs 25-35 lakhs.
Excellent infrastructure, good connectivity, and access to the Grand Trunk Road attract decent investment to this locality. Investment here is generally for end-user and not rental purposes.
Manika Krishnan writes in support of property.sulekha.com, an Online Property Portal catering to all the consumer needs in the Indian real estate domain. It’s a platform for both buyers and sellers to exchange valid information in a quick and effective way. Log on to property.sulekha.com to advertise and also find more information on various properties.