The Times of India-OMR’s real estate evolution: From IT hub to affordable luxury villa destination
From tech parks to luxury living, Old Mahabalipuram Road (OMR) is redefining Chennai's real estate landscape. Once known for its glass-and-steel IT offices, the corridor is now witnessing a surge in villa communities, offering the ECR lifestyle at more affordable prices and drawing homebuyers away from the city's traditional coastal luxury belt. However, both prime stretches face infrastructure challenges.
Chennai's housing demand is distributed as follows: South Chennai – 60%, West Chennai – 30%, and the Central Business District & North Chennai – 10%. Plotted developments and villas hold a 30% market share of the city's residential segment, explained Sanjay Chugh, Director, Anarock.
