Real estate developers eye ORR as potential area to absorb growth

Chennai:
Real estate developers have now set their eyes on Outer Ring Road (ORR) after Chennai Metropolitan Development Authority is planning a grid of roads along ORR to develop it as a potential area to absorb the future growth of the city.

As the first phase of Outer Ring Road project between Vandalur to Nemilicherry has been completed and CMDA Authority has already accorded permission for developments along the Mudichur and Palanthandalam villages, real estate developers now want to cash in on it.

Speaking to Express marketing manager of L C S Citymakers Sasirekha said that the outer Ring Road has huge potential for future growth.

Interestingly, LCS Citymakers is looking at long-term possible investments in the 62.3 km long outer ring road which connects NH 45 (GST Road) at Vandalur, NH 4 (GWT Road) at Nazarathpet, NH 205 (CTH Road) at Nemilicherry(Thiruninravur), NH 5 (GNT Road) at Nallur and TPP road at Minjur.

“We are looking at the Vandalur-OMR stretch because this could turn out to be possible investment for future,” she said. Even Amarprakash Builders and Developers are looking at investing in the Outer Ring Road stretch.

CMDA sources said that the area plans unit of Chennai Metropolitan development authority is currently receiving planning permission applications for large-scale developments along the Outer Ring Road.

Although no concrete figures are available but development projects like building a rail link in the 60 km stretch besides the construction of a Rs 376 crore bus terminal in Vandalur has raised the stakes for development in this stretch.
CMDA sources said that action has been initiated to work out the grid of roads for the area adjoining ORR in the stretch between Vandalur and Palanthandalam. CMDA sources said that the proposed road network suggested for Mudichur and Palanthandalam has already been approved during the authority meeting.
 The local bodies in the two villages have been given the sanction to accord planning permission to the development projects in these two villages.
Currently, CMDA is preparing detailed development plans which would focus on the grid of roads aiming at good connectivity to outer ring road, inter linkages and future requirements of physical and social infrastructure.