Poonamallee Road, popularly referred to as the western gateway to enter Chennai city, is now attracting massive IT development. Many realtors are turning towards this arterial road to construct office spaces for IT firms, slowly transforming it into the city’s second IT highway.
One of the major contributors for this is the upcoming Kuthambakkam Bus Terminus, which will be spread across 25 acres of land, near Thirumazhisai. With an aim to achieve twin objectives, the terminus will help ease traffic congestion in Koyambedu along with providing much-needed public transport respite to nearly 40,000 people working in the industrial hub, including SIPCOT.
Another contributing factor will be the completion of the much awaited Greenfield Airport, Chennai’s second airport, proposed to handle 40 million passengers annually. A whopping 4,500 acres is allocated for the completion of the project, most likely to be located in Parandur.
There are plans of converting a 15-acre plot in Poonamallee into an IT special economic zone spread across 1.3 million square feet, which was once put aside for the development of a residential-cum-mall complex. The whole plan shifted when the state government announced the construction of a metro rail corridor that connects Poonamallee with the rest of the city. Many developers who had applied for residential project approvals withdrew with an aim to build office space that houses IT companies.
Since the metro rail connectivity along Mount-Poonamallee Road is also one the main attractions of the locality, it has sparked a lot of real estate interest along the road. However, real estate that was once conceptualized to be residential buildings, are now converting into multi-storeyed buildings that accommodate IT company offices.
The advent of the metro rail line is sure to make Poonamallee more accessible to city residents, thus elevating its commercial potential. Currently, three IT parks offering 3.5 million square foot office space are already under construction, spreading across a 15 km stretch between St Thomas Mount and Poonamallee.
Once the connectivity via metro rail improves, along with the completion of the upcoming Greenfield Airport and Kuthambakkam Bus Stand, there are more chances of projects to come up in Poonamallee and beyond. In addition to office space development, there is also rising demand for residential projects that support and cater to these large IT parks. Those looking to invest or shift to this burgeoning neighbourhood can also find a wide range of residential plots at Casagrand Uptown – an integrated township spread across 30 acres of lush green land, located at Thandalam, Poonamallee. It has been designed for comfortable living in a serene and pollution-free environment for those looking for some respite from the city’s usual hustle.
Slowly but surely, Poonamallee is becoming the preferred location for setting up software companies, IT parks, colleges and educational institutions as well. Thanks to the accessibility and opportunities it will soon offer, it can become the next educational and employment hub, the next OMR.