Connectivity And Proximity To Commercial Hubs Boosts Strong Demand For Rent
In association with Magicbricks, this week Outlook Money carries to you an extensive mix of localities for Residential Realty in Noida, Navi Mumbai, Chennai, and Kolkata that have witnessed a sturdy call for both sale and rent because of dazzling connectivity and proximity to industrial hubs and.
This week, Residential Realty, we focus on Noida Expressway, Kharghar in Navi Mumbai, Kelambakkam in Chennai, and South Kolkata.
Noida Expressway
The Noida Expressway micro-market covers the residential real estate improvement along the Noida-Greater Expressway. This marketplace starts from the Mahamaya flyover inside the north and extends up to Sector hundred and fifty towards the freeway’s southern tip. It encompasses a distance of about 23 km from north to south. There are about 25 residential sectors in this stretch, but not all of these residential sectors have seen development. Further, some of these sectors shape part of the Jaypee Township and its various sub-tasks.
Analysis of consumer property search behavior on Magicbricks indicates that few localities on this micro-marketplace are among Noida’s most admired residential locations.
Apart from residential development, the micro-marketplace has two large business/IT/ITES development clusters. One cluster is closer to the micro-marketplace’s northern tip, even though the other is located toward the primary part. These clusters serve as a critical call for motive force for the residential phase, both in the sale and condominium segments.
This micro-marketplace is also home to schooling institutions. These range from a private college to many pinnacle-rated K-12 faculties that have emerged over the last ten years.
Noida-Greater Noida Expressway is likewise the principal communique axis of the micro-marketplace. It connects it with Sector-18 (Atta Market), which is the primary retail hub of Noida. Two foremost retail malls, DLF Mall of India and Great India Place, are also positioned in Sector-18. In the opposite case, this street connects Noida with Pari Chowk in Greater Noida and leads toward Yamuna Expressway (which connects it with Agra).
Another vital benefit of the Noida-Greater Expressway is its direct connectivity with the Delhi-Noida-Delhi (DND) Expressway. Residents dwelling alongside the Noida Expressway can move to the DND Expressway without navigating through Noida town, cutting down on commuting time. The micro-market has benefited from the recently inaugurated Aqua Line of Noida Metro.
Kharghar is one of the 14 nodes that constitute the city of Navi Mumbai, as per master-making plans and improvement through the City and Industrial Development Corporation (CIDCO). For local governance and network services, the Kharghar bureaucracy is part of Panvel Municipal Corporation.
Kharghar is quite massive in terms of place, but much less than half has real estate development. The balance location is hilly/mountainous and consists of forest land. Real estate development inside the locality includes residential, industrial, retail, and business improvement.
As the region around Vashi and Palm Beach Road began to fill out step by step, the real estate prices in localities in this place also started growing. The common resale charge in Kharghar, as of March 2019, turned into Rs eight 661/ sqft, which is 15% cheaper than the nearest locality of Belapur.
Until now, Kharghar has become the most widespread locality for clients searching for property in Navi Mumbai. Today, it’s the second most searched property by consumers on Magicbricks searching for residential options. The locality offers a combination of under-production and equipped-to-move properties. It is an integrated improvement and has important guide centers like retail, offerings, schools, and clinical centers.
The under-production Phase-1 of Line-1 of the Navi Mumbai Metro will enhance Kharghar’s connectivity. Line 1 is 23. Forty kilometers in duration and consists of three levels. Of these, Phase 1 is beneath creation. This phase is eleven.10 kilometers in duration and has 11 stations. The section starts in CBD Belapur and ends at Pendhar in Taloja. In between, it navigates through the coronary heart of the Kharghar micro-market. Seven of the eleven stations are located within Kharghar, which provides enormous coverage. And this should additionally have a superb effect on the realty sector.
Kelambakkam, Chennai
Kelambakkam is a peripheral locality of Chennai and is situated alongside the Old Mahabalipuram Road (OMR). It often has residential development, and going by the everyday average resale charge, it caters to the mid and lower-mid segments. Residential development inside the locality may be considered an extension of the continuous outward growth of the metropolis alongside all the essential roads radiating out of the city. Kelambakkam forms the southern part of the development, which has improved alongside the OMR from southern suburban localities like Adyar and Palavakkam.
