New Bus Terminus in Vandalur to Trigger Realty Rush
The recent announcement by Tamil Nadu Chief Minister J Jayalalithaa that a new Mofussil bus stand would be set up at suburban Vandalur to reduce the increasing congestion at the Koyambedu Mofussil Bus Terminus (CMBT), may escalate the property prices in the adjoining areas of the proposed new bus terminus.
“We had seen the same situation a few years ago when the chief minister announced setting up of Koyambedu inter-state bus terminus. Plots adjoining the area such as Virugambakkam, Vadapalani, Choolaimedu and Saligramam sold like hot cakes and property prices went through the roof once the work began. The real estate prices in the area are still on the higher side compared to other adjoining areas. The same situation will now be witnessed in Vandalur also in a few days,” says Suresh Kumar, a property consultant near Tambaram.
The Chennai Mofussil Bus Terminus in Koyambedu, when opened in 2002, was touted as the largest in Asia. Now, the CMDA has identified land for a new terminus in Vandalur that will be more than twice the size of the CMBT to handle south-bound long-distance buses and ease the pressure on the Koyambedu terminus.
Considering the fact that more than 50 per cent of buses from CMBT are operated to southern districts, the government has planned to have a new bus stand near Vandalur railway station, adjacent to the Vandalur-Wallajabad state highway.
The proposed bus terminus in Vandalur will impact the property prices in the adjoining areas such as Kelambakkam, Guduvancherry, Katankulathur, Urapakkam, West Tambaram, Oragadam, which connects the industrial hub and satellite town Sriperumbudur.
“More residential projects by leading builders will be coming up in localities adjacent to Vandalur to cater to the needs of the property investors. People will buy land or home here purely for investment purposes as the infrastructure facilities are far from satisfactory in areas beyond Tambaram, though prices are going up steadily in southern areas till Tindivanam,” says Pankaj Sharma, a developer, who has three mid-sized residential projects, one each in Kelambakkam, Urappakkam and Wallajabad.
As Vandalur is the major junction for ECR, OMR and cross-junction point to GST and bye-pass road towards Maduravoyil, Sriperumbudur, NH-4 etc, investing in the area surrounding Vandalur will be prudent for those expecting handsome short term gain.
“The new bus hub will trigger a real estate ‘price war’ in and around Vandalur and also on GST,” says Hariharan, a property consultant in Vandalur.
“When CMBT happened, Koyambedu was considered as an outskirt. See how it has developed into a major landmark now? Vandalur will face the similar kind of growth and may soon transform into a mini city,” he concludes.
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I am planning to buy plots near vandalur ( Behind Proposed new BUS Terminal) ERANI AMMAN Nagar,
Please advice me CMMDA Approved 92/2003, but still now nobody constructed house?...
I feel any issue over that area?... If yes please reply me ASAP.
yes, i have patta, i applied in jan 2012 and received it
Hi I have a apartment in Urapakkam and we want to sell it but we are in a dilemma if we have to wait for couple of years for the bus terminus to come or sell it now. any inputs??
Hello - Is K.K nagar is under acquisition? I have not recieved any notice about the acquisition. Is anyone aware of the details. Please clarify. Regards, kvs
Hello Kalai,KK Nagar is not marked under acquisition for the upcoming Bus Terminus project. Do not worry !!
I was told to aproach VAO office and they asked me GPA and parent sale deed copy and neighbour patta ref no.I have only my Sale deed copy and EC. Thats why?
ok sure, but reference to what purpose ?
can I have your patta no for reference