Chennai's new growth engine
Maraimalai Nagar, Sriperumbudur and now Oragadam. The first two are industrial zones that developed into self-contained areas with residential spaces, educational institutions, hospitals and other social infrastructural facilities. Now there are distinct signs that the third will also go the same way.
Oragadam, one of the biggest automobile hubs in South Asia, is evolving into a multi-faceted industrial zone. The Oragadam SIPCOT area contains a diversity of industries, including engineering, bio-tech, IT and electronics units. The cream of technology majors have set up shop: Renault Nissan, Daimler AG, Komatsu, Allison Transmission, Unipres, NSK ABC, Mega Tech, Delphi TVS, Seco Komos, Momentive, Johnson Lifts, JCBL Marbles, GKN Driveline and Tenneco.
Besides the SIPCOT zone, industrial units proliferate in other parts of Oragadam too.
“Three lakh people are expected to work in the industrial units at Oragadam in three years' time,” says P. Suresh, managing director, Arun Excello.
Expecting the demand for housing to go up, builders are making a beeline to this suburb, located south-west of Chennai.
A sign of this growing interest is three humungous townships. Hirco Palace Gardens is set on 369 acres of land, with 10,000 dwelling units planned. The first phase of this massive project is almost complete.
The Inno Group has announced Inno GeoCity, which offers 4,000 houses (independent and semi-independent) in an 131-acre township. Temple Green Heights, a 100-acre township by Arun Excello, will provide 2,600 houses.
Collectively, these three projects are aimed at the working population. The projects fit into a broad category; they have something for every purse. With flats offered at Rs. 3,400 per sq.ft., Hirco's township falls in the premium segment. It is clearly aimed at the middle-level to the top executive. With basic prices of Rs. 2,399 per sq.ft and Rs. 1,750 per sq.ft., Temple Green Heights and Inno GeoCity fit into the definition of affordable housing.
The social infrastructural facilities offered by these projects include schools and health care facilities. End users form a majority of buyers in these projects.
Advantages
Builders says buyers' decision has been motivated by the obvious advantages of living close to their workplaces and having a diversity of social infrastructure within easy reach. And, the charm of living in less crowded suburbs.
“As Oragadam is connected by a matrix of wide roads to other happening towns, residents have easy access to facilities that lie beyond. For example, residents of Oragadam can draw on the resources in Sriperumbudur, which has many educational institutions,” says Kalyan Jayaprakash, director, Inno GeoCity.
Four-lane and six-lane State Highways provide multiple entry points to Oragadam via flourishing towns (Padappai, Sriperumbudur, Walajahbad and Singaperumal Koil).
In industrial circles, Sriperumbudur and Oragadam are spoken of as twin towns. Together, these two towns account for an FDI of $16 billion. Some believe Oragadam is poised to become an industrial superpower in that area.
“Being connected to Oragadam will be the prime driver of development in many of the neighbouring areas. Oragadam will become the central point of a massive industrial revolution. It will impact development of areas within a 15 to 20 km radius,” says V. Suresh, principal executive officer, Hirco. “Oragadam shall be the catalyst of growth in the region.”
PRINCE FREDERICK
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