East Coast Road which is also known as state highway 49 is a two-lane highway which connects Chennai with Cuddalore via Pondicherry. The total length of the road is about 800 km from Chennai to Kanyakumari. However, the areas which fall on this road in Chennai are Thiruvanmiyur, Kottivakkam, Palavakkam, Neelankarai, Injambakkam, Panaiyur, Uthandi, Muttukadu, Kovalam and Vilambur.
This road offers some of the mesmerizing views of Chennai which include temples, museums, and other places of tourist potential that you shouldn’t miss. Because of these scenic destinations, the real estate market of ECR has today become a prime residential destination along a coastline dotted with restaurants, beach resorts, and farmhouses.
According to many real estate experts, “Since the road leads to Mamallapuram and Puducherry, many tourist attractions have come up as well. Its close proximity to OMR, which runs parallel, makes it also a recreation spot apart from residential hub for people who work and living along the IT corridor.”
So let’s understand that why this Road is touted as the growth corridor of Chennai:
The place enjoys good connectivity to the other parts of the area and that’s why it attracts many home buyers and developers to invest in this region. The closest railway station is situated in Velachery. Its proximity to the airport is another reason home-buyers prefer to buy in this locality. So good connectivity to locations where employment opportunities are growing is one of the key factors influencing the real estate market here.
ECR connects Chennai to other key cities such as Cuddalore and Puducherry. Also, it is a vital connecting link for the southern suburbs of Chennai which host many important commercial hubs. Because of all these facilities and well-developed social and physical infrastructure, the area has attracted many home-buyers and investors in the past few years.
Property market and trends
Because of serene surroundings, developers are coming here with a number of high-end villa and apartments with a sea view element. In recent times, the region has seen an influx of people who relocated from hectic city life to tranquil villas and spacious 2-3 BHKs. Gated communities, individual houses, row houses, villas, and duplex homes are among the varied options which a home buyer can avail here easily. Localities such as Neelangarai, Injambakkam, Sholinganallur, and Akkarai are gaining popularity among many property buyers.
Property prices here range between Rs 4,000 and Rs 7,600 per sq ft, whereas rentals are in the range of Rs 15,000 and Rs 25,000 per month. So we can say that it easily fits into the budget of a middle-income group too as well the market is open for High-income group buyers.
The road to future
According to latest reports, the Railway Board has allocated Rs 1200 crore for the 179.28 km railway line, connecting Chennai and other towns around ECR. Because of these features as well as improved and better connectivity and infrastructure, the East Coast Road is being touted as the growth corridor of Chennai.