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Bangalore-Chennai Expressway: Impact on Real Estate

Bangalore-Chennai Expressway: Impact on Real Estate

Chennai is the capital of Tamil Nadu and is the gateway to South India. Along with IT and ITEs companies, Chennai is also home to a lot of manufacturing units and business centres. Bangalore is the IT capital of South India and is home to some of the largest and respected firms in the world.

Thus, these 2 cities are some of the largest residential hubs and are key centres of economic activity in the country. The Bangalore–Chennai expressway is proposed to connect these 2 cities and reduce the travel time by road to just a few hours. This project is one of the key milestone projects for the country and is a big boost to South India in general. So, what are the main features of this project and what will be the impact on real estate?

For a start, the project is expected to cost over Rs 17,000/- crores, and the project is expected to pass through 3 states of Tamil Nadu, Andhra and Karnataka. It will span roughly 72 kilometres in Karnataka, 85 kilometres in Andhra Pradesh, and 106 kilometres in Tamil Nadu. The Hoskote and Narasapura Industrial Area in Karnataka will be connected to Sriperumbadur near Chennai in Tamil Nadu, and along the way, Chitoor in Andhra will also be connected. It will be a 4 lane expressway and is being built by the NHAI (National Highways Authority of India). There are also plans to extend this expressway till Kochi for additional benefit.

While this is the first greenfield project in South India, the best thing is that all land acquisition is complete, and approvals have been received from various authorities as well. Work is moving on at an excellent pace, and by March 2023, the project is expected to be completed. From the project management perspective, private contractors have been employed. The project is divided into 3 phases and 10 packages. Each lane will be about 3.75 m wide, which is about 0.25 m wider than the existing expressways in India. There will be over 50 underpasses and more than 15 flyovers along the route. The maximum speed allowed will be 120 km per hour and enhanced traffic safety devices will be used throughout to ensure safe travel.

Impact on Real Estate

Next is the analysis on the impact of real estate.

There are already many leading industrial units and commercial warehouses along the present Bangalore–Chennai highway route. With this expressway springing up, the potential and new projects are definite to spring up more. Further, since people will be needed everywhere, along with commercial development, there will be residential development also. Thus, this is the right time to invest in plots in places like Sunguvarchatram, Walajabad and Kanchipuram. There is already the Chennai–Bangalore industrial corridor and this project is expected to boost this further.

There will be speedy movement of traffic and goods between Chennai and Bangalore. Another important advantage of Chennai is the port and coast. This geographical advantage will help position as an export hub and provide improved economic outlook.

Thus, there is going to be definite appreciation in real estate in all the nearby and related areas. Already, there has been an appreciation of about 5 percent in the real estate cost and value per square feet. As the project marches towards completion, this is only expected to increase more and more.

About Wisdom Properties

If you are looking for plots in Oragadam, plots in Chennai, DTCP approved Plots in Guduvanchery, Plots/Land for sale in Chennai or property for sale in Maraimalai nagar, plots for sale in Sunguvarchatiram or any place close to the Bangalore–Chennai expressway like Kanchipuram, then Wisdom Properties is the best real estate company in Chennai company to approach.

They have a wide portfolio of properties like plots, residential villas, plots for commercial purposes, villas, farmlands etc,. The properties come with clear title deeds and Wisdom Properties has an excellent reputation. Hence, getting a loan is also quite easy provided the buyer satisfies the criterion. For more details, contact Wisdom Properties at info@wisdomproperties.com or +91 93606 93606 or just walk into our office at No.1, 5th Cross Street, New colony, Chrompet, Chennai - 600 044, Tamil Nadu, India.

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