Is it a good idea to buy an apartment in OMR

Buying a property is a significant investment, with returns that depend on various factors, including the property itself and its location. One thing you can be sure of is that buying a property in Chennai is likely to bring in good profits. As a smart investor, the money you make depends on how well you research and find the right property. And if you're looking to start your search, checking out OMR is a good idea since it's emerged as a popular real estate market in the city thanks to its fast growth and development.

When it comes to investing in an apartment, choosing the right location is crucial. The Old Mahabalipuram Road (OMR), also known as Rajiv Gandhi Salai, is a highly sought-after residential area in Chennai. Stretching from Madhya Kailash in Adyar to Mahabalipuram, OMR has transformed into a bustling IT hub, attracting many potential homebuyers. Let's take a closer look at why buying an apartment in OMR might be a smart move.

1. IT Hub and Employment Opportunities

Once an outskirt of Chennai and difficult to access, OMR has now become synonymous with Chennai's IT-boom. It has evolved from a simple road to a vibrant IT hub. This transformation began in the early 2000s when the Tamil Nadu government recognized OMR's potential as an IT hotspot. The development of the first IT parks, including Tidel Park, changed the fate of this simple road and transformed it into an IT hotspot in Chennai.

Over the years, many multinational tech companies like TCS, Infosys, and Wipro established their presence on OMR and attracted a range of other IT firms which led to the rapid growth of this region. The availability of land and government support led to the expansion of IT parks and SEZs, solidifying OMR's reputation as a top IT destination. The setup of IT parks like SIPCOT IT Park and ELCOT SEZ, has increased OMR's capacity to host more companies and provide employment opportunities.

The increase in professionals moving to the area caused a boom in the housing and commercial real estate market, completely changing the quiet and undeveloped area into a busy city street.

2. Connectivity and Infrastructure

One of the primary reasons for the popularity of OMR is its excellent connectivity. It is well-linked to key areas of Chennai such as the airport, railway stations, and bus terminals. The region is constantly expanding with new projects aimed at improving transportation and reducing traffic congestion, making commuting easy and efficient for residents. Here is the overview of connectivity in OMR,

Bus Connectivity:

➛ OMR is well-connected by public buses operated by the Metropolitan Transport Corporation

➛ These buses provide frequent services to neighborhoods along OMR, including Taramani, Thoraipakkam, Sholinganallur, and Kelambakkam.

➛ The Tambaram–Velachery–OMR IT Corridor (TVK) bus route is especially popular among IT professionals.

Road Connectivity:

➛ The OMR is a vital road that links different key areas in Chennai, running parallel to the coastline and serving as a strategic route.

➛ It connects with other significant roads like GST Road, ECR, and Velachery Main Road, making it easy.

Future Developments:

➛ OMR is continually evolving, with several infrastructure projects underway to further enhance connectivity.

➛ The proposed Phase 2 of the Chennai Metro will extend the Blue Line to Siruseri SIPCOT along OMR.

➛ Additionally, the OMR–ECR Link Road is being developed to provide an alternative route connecting OMR with ECR.

3. Healthcare Facilities

You might know that Chennai is the 'Healthcare Capital of India,' and most of the reputable hospitals are located in OMR. When deciding on a place to live, it's important to consider the availability of healthcare facilities nearby. OMR is fortunate to have top hospitals like Apollo Speciality Hospitals, Chettinad Health City Gem Hospital and Global Health City, which offer high-quality medical services to ensure residents have access to quality care when necessary.

4. Educational Institutions

Having reputable Schools and Colleges in the area makes OMR a great choice for families looking to relocate. Indeed, it is one of the significant aspects to consider while buying property. Institutions like Sishya OMR, Gateway International School, and Hindustan International School offer top-notch education. And with colleges like SSN Engineering College, Hindustan University, and St. Joseph’s College of Engineering, there are plenty of options for those seeking higher education.

5. Investment Potential

OMR is considered a high-growth area with significant investment potential. In the last 2 decades, the transformation it has undergone is beyond imagination and continues to develop. Factors contributing to this include:

➛ Property values have shown consistent appreciation due to demand from IT professionals and ongoing infrastructure projects.

➛ High rental demand from the working population ensures attractive rental yields for investors. And apartments are their first preference.

➛ Upcoming projects like the second phase of the Metro Rail and new IT parks are expected to further boost real estate values.

6. Lifestyle amenities

OMR in Chennai is really lively and happening. It has a lot to offer with plenty of shopping malls, restaurants, and entertainment choices. Places like Vivira Mall, Marina Mall, and Mayajaal have a wide range of shopping, dining, and entertainment options. There are also movie theaters, theme parks, and beaches nearby for fun and relaxation.

Conclusion

Overall, buying an apartment in OMR is a smart choice. With its excellent transportation, robust infrastructure, numerous job opportunities, high-quality schools and healthcare, and vibrant environment, there are plenty of reasons to invest in this area. The steady increase in property values and upcoming developments only add to OMR's appeal for real estate investment. So, start your investment in an apartment in OMR today, and you can be sure that the returns will be high.

If you struggle to find such apartments, check out flats for sale in OMR. These verified listings will help you find the perfect apartment.