WHAT MAKES ORAGADAM RANK HIGH ON COMMERCIAL INVESTMENT?

As we are all aware, for several years now, Chennai’s peripheral areas have emerged as India’s top real estate investment hub – reason being – the availability of space and the low rentals. Subsequently, the demand for commercial and residential spaces in these areas has been on the rise. Now with the Centre taking an increased interest in these areas has decided to have an airport in Sriperumbudur and this project would begin in early March of 2021. The cost of this project is an estimated 15,000 crores! TOI reports that the land has been chosen and has been frozen for acquisition.

This brings two prominent areas back into focus as the best locations for commercial real estate development and Oragadam and Sriperumbudur have emerged as the winners in the real estate game.

Commercial land in Oragadam

In this article we are going to focus on Oragadam and showcase this destination while bringing you all the details as to how this zone has quickly become a much- sought- after commercial real estate destination. Oragadam becomes a happening place and a first choice for commercial real estate because of its location, growth factors and accessibility.

This article would help you in making an informed decision about making an investment in this zone.

IT, Electronic and Automotive Hub

Chennai has been ranked as one of the prominent IT hubs in the country and its economy has grown at an exponential rate. The main reason for Oragadam emerging as one of the best locations for commercial investment is, Chennai emerging as a major IT hub, an electronics manufacturing hub and an automotive hub as well.

With the growth in infrastructure and connectivity Oragadam is seen to be the much sought after location for companies investing in India building manufacturing units for automotive, electronics industry and IT parks.

Requirement for larger areas uncluttered by civilization

With the emergence of the Airport there will be opportunity for foreign direct investment in India along with the need for large spaces and greater square feet area for construction of manufacturing spaces which are uncluttered by civilization. The airport which would be situated in Sriperumbudur would be in close proximity to Oragadam and hence would be the most feasible option for IT parks, manufacturing centers for automotive industry and electronics manufacturing hubs.

Chennai’s energetic and effervescent economic base supported by the Chennai Port:

Chennai with its vibrant economic base is supported by all industries and sectors including automobile, software, hardware, healthcare etc. The city is also supported by the port which allows for a diverse economy creating many job opportunities. The growth of manufacturing and IT hubs on the outskirts of Chennai along with electronics manufacturing will be amply supported by these factors and the presence of the Chennai Port will be seen as the greatest advantage for foreign investors setting up factories and manufacturing units in Chennai.

Many corporations plan to expand their operations within India and chief among them is Daimler India Commercial Vehicles which has signed an MOU with the government of Tamil Nadu on March 28, 2020 which would cover Rs.2.277 crore of new investment. The investment made is to expand its production in Oragadam in Chennai and this would also mean greater commercial real estate being put to use. This investment alone would mean an increase in jobs and also increased requirement for housing and other commercial buildings required in the area.

With the airport coming up and with the presence of the port in Chennai we expect 100s of global conglomerates investing in commercial real estate in Oragadam.