Traditionally North Chennai is one of the under developed pockets of Chennai. Though it has very good industrial units like Chennai Petroleum Corporation Limited, various Container Freight Stations which handle import and export of goods through harbor, it did not new job opportunities in IT/ITES like other parts of city.
While all developments are happening in south or west side of Chennai, north Chennai witnesses very less action. However in the recent budget the finance has offered something for the north Chennai people to rejoice. Apart from budget announcement there is few development news also for Chennai north. Let us see how the face of north Chennai will change once all the announcements are implemented.
Announcements will Impact Chennai North
- Ponneri has been chosen as one of the smart cities to be developed across India.
- Ennore has been identified as hub for Chennai Bangalore Industrial corridor
- Chennai Bangalore Freight Corridor
Ponneri to become Smart City
“The development of Ponneri as a smart city will ensure equitable distribution of urban growth,” said Hidehiro Ishiura, director-general of the Japan External Trade Organisation. Once it becomes smart city, it is expected to create a minimum of 5,00,000 jobs in five years.
Ennore to become hub for Chennai Bangalore Industrial Corridor
Japanese automobile manufacturing companies like Toyota, Mitsubushi, Isuzu, Nissan and Toshiba have been using Chennai Port for importing automobile components through containers for their factories located in Chennai. Japanese company Metal One (Mitshubishi group) is importing steel coils used for automobile through Chennai Port in the break bulk form. Around 240 Japanese companies have developed businesses in and around Chennai in the last decade.
Several Japanese companies have also shown interest in enhancing their use of the Ennore Port. At present,Nissan Motors India and Toyota are the major Japanese Companies using the Ennore Port facilities for their export. Nissan Motors has exported about 3 lakhs cars while Toyota has so far exported 42,000 cars from Ennore Port.
Road connectivity is a big problem. We, along with the business community, welcome any new development or investment in the infrastructure sector. Foreign investors and a major supply chain depend on connectivity for transport of their goods. Hence, it should not be ignored.
Chennai Bangalore Freight Corridor
Chennai Bangalore Freight Corridor is expected to pass through north of Chennai and ennore has been selected as hub for this corridor. Shinya Ejima, chief representative of JICA the agency was waiting for a shortlist of projects that would form part of Chennai-Bangalore Industrial Corridor (CBIC) from the Indian government. 26 bid projects were already identified by the agency.
The master planning for CBIC is being done for 2030. In addition, JICA is identifying certain urgently required infra projects. These include construction of peripheral ring road between the two cities and up gradation of cargo handling at Chennai and Ennore ports including access to them. States of Tamil Nadu and Karnataka have many transportation projects on the shelf.
All these developments are expected to create more employment opportunities in this pocket which will also increase apartment prices in these locations. If you too, dreamt of owning a spacious home at a price that doesn’t strain your budget, welcome to North Chennai Real Estate.
While maximum real estate demand of 32 per cent was witnessed for the Rs 20-40 lakh category, demand for the Rs 60-100 lakh category led its supply by 8 per cent with 19 per cent demand and 11 per cent supply. Demand at 16 per cent and supply at 17 per cent for the Rs 1 crore and above category was almost synonymous. This means that while affordable properties were the most sought after, high-end properties are also popular. However, luxury is more in terms of space than amenities.
Areas such as Perambur, Avadi, Mogappair, Gummidipundi, Korattur, Ayanavaram, Arumbakkam Tiruvottiyur and Ennore have plots, builder floors or villas. “Small time business men and investors prefer North Chennai.