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Indian Real Estate News : Bangalore
Ponneri - A promising point
Source: The Times of India Sep 13, 2016
Ponneri is an important destination in the property sector with increased employment opportunities around it.

The potential of Ponneri can be gauged from the fact that property prices of the locality have seen a sharp surge indicating. This indicates the fact that an investment here will turn profitable in the months to come. The presence of good infrastructure guarantees consistency with respect to price. Besides prominent work hubs, impending industrial growth and affordable housing projects make a list of positives for the locality.

The first signs of a recovering market are here. Despite the news of Smart Cities doing the rounds, Ponneri in North Chennai saw a dip in prices in the first three months of this year. But for investors looking at this micro market, the good news is that prices did see an increase through Apr-Jun 2016. This has reinstated the faith of the investors in the market.

Ponneri is close to the national highway and the ports of Chennai. But somehow, it has not seen the kind of growth visible in the other parts of the city. With an international school having come up recently in the locality, this area has gained more prominence. Many companies have started looking at Ponneri as a viable location. The best thing about this neighbourhood is its proximity to areas of tourist interest like the Pulicat lake. It also boasts of suburban rail connectivity. Investment may be good if you are looking at a 5-10 year horizon. Many buyers, who have a small budget for investment, have turned to Ponneri. Apart from the local work hubs in Ponneri, Gummidipundi SIPCOT and SIDCO Industrial Parks have made Ponneri a growth corridor in terms of the job market. Small businesses also thrive and businessmen have migrated to Ponneri due to affordable land costs.

The road ahead

Ponneri stands to gain as an industrial node. As of now it has paved the way for small-time businessmen to take up land banks at relatively cheaper prices. Considering that the Chennai-Bengaluru and the Madura-Thootukudi corridors will be on priority, the benefits trickle down to Ponneri.

Although a goal for future, the Integrated Urban Development Mission (IUDM) and the Chennai Mega City Development Mission (CMCDM) would work in sync with the Central government's Smart Cities Programme and Urban Transformation (AMRUT) scheme to upgrade and facelift infrastructure. This will lead to planned development. Reportedly, the Smart City project would be developed on 25,000 acres in three phases as per a senior rep resentative of the Japan International Cooperation Agency.

This node is expected to be developed as a hub for auto and auto components, chemicals and petrochemicals, electronic and optical components. With the advantage of Kattupalli and Kamarajar ports in the vicinity, employment opportunities stand a good chance to attract new settlers. North Chennai was infamous for poor road connectivity, nar row roads and general dislike. However, areas like Perambur in the northern market have at traced a lot of buyers. Similarly, Ponneri too stands a chance to climb up the preference ladder.

As of now, Ponneri may be calling in blue-collar settlers. However, with time and planning, it may match up to say, Peramubur.

In terms of physical infrastructure, the Outer Ring Road (ORR) has been a blessing for many. While South Chennai always topped the charts when it came to buyers' preference, the ORR made North Chennai favourable.

Lower entry costs proved beneficial to small investors while development of a transport network has given a boost to the peripheral areas.

Minjur, Ponneri, Nazarathpet and Poonamallee would soon spring up as popular residential localities because of the ORR. Not only are some of these areas automobile hubs but new logistics labs and warehouses are also coming up in and around the area. "Housing demand will surely go up very soon," says Parathasarthy Murugan, broker, North Chennai Realty.

Post the December floods, buyers need to take cognizance of the fact that they have to make a proper enquiry before investing in a locality. Poor urban planning may lead to destruction of both life and property. Hence before investing, ask the right questions about soil testing, legality of the project and track record of the developer. Do stay away from unstructured sellers who may offer attractive deals to lure you.

Plotted developments in the price range of Rs 2.5-10 lakh or even more depending upon the exact location and size. You could also go in for 1 and 2-BHK units in the price range of Rs 15-50 lakh. Units of 3-BHK are in the range of Rs 30-55 lakh. You may also come across residential houses that are priced slightly higher than the apartments. As of now, this area has registered medium demand and low supply. However, sound planning may be a game changer for Ponneri. An early investor will have the benefit of good returns in the long run. Much will depend on the timeline when the upcoming industries in this part of Chennai will commence operations.

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