Chennai charts out low-cost housing plans

The state government in Tamil Nadu has decided to build affordable housing units commanding a price tag of Rs. 30 lakh along Vandalur-Kelambakkam Avadi-Poonamallee highways leading to the city. These areas, branching out of major roads linking two national highways on the periphery of Chennai, are emerging as destinations for affordable housing projects. Areas located around 40km from the city are best suited, say market watchers. While presence of employment hubs in the industrial and information technology sector is contributing to the traction in the southern periphery, rail and road connectivity, ample educational institutions and healthcare facilities are a major advantage on the western fringes, chief operating officer, strategic consulting, India and Sri Lanka at Jones Lang LaSalle, said, explaining that Chennai, has four major regions which could house such projects. The southern suburbs have the highest number of residential stock followed by southwest and west comprising areas including Paruthipattu, Ayanambakkam, Thiruverkadu and Kundrathur. Though the north too has demand, the supply is low because of the presence of industries and port related activities. He said adding that the demand for budget homes in the 1 BHK and 2 BHK (bed, hall and kitchen) categories costing between Rs 12 lakh and Rs 30 lakh, he added.