GST Road, on the other hand, has SEZ developments such as Mahindra, L&T , Shriram, etc, along with multiple industrial units being set up in the vicinity. This consequently allows for mixed developments to be witnessed along the stretch which caters to a larger strata of society . Presently, Rajiv Gandhi Salai is faced with an oversupply situation with vacancy levels greater than 45% while GST doesnt suffer from that problem. Physical infrastructure is strong in both the locations with the recent upgradation of roads, although connectivity in GST is stronger owing to the Southern Railway line and its proximity to the airport. As State-run buses use the East Coast Road instead of Rajiv Gandhi Salai, lack of public transport continues to plague most stretches of the latter. GST Road also boasts of stronger social infrastructure such as schools, higher education institutions, retail space, hospitals , etc, in comparison with Rajiv Gandhi Salai. However, social infrastructure in Rajiv Gandhi Salai is presently being established and as time progresses, is expected to strengthen further with more schools, hospitals, entertainment and retail centres. Both locations over the long term have the capability to be self-sustaining micro markets in Chennai, although the pace of the growth may vary.
With the recent completion of the fourlane GST Road, additional infrastructure (such as rail and road over-bridges ) is expected in the near future. In the present scenario, GST has an advantage as compared to Rajiv Gandhi Salai in terms of wholistic sustainable growth coupled with the presence of manufacturing and IT companies. Further, the development in this region is more spread out as compared to Rajiv Gandhi Salai as the latter is developed only on either side on the corridor. That said, Rajiv Gandhi Salai has the potential to develop and may emerge as a hotspot , depending on the pace of infrastructure developments in the region.
Rental values for a 1,000 sqft apartment
GST Road – As can be seen in the tabulated column, one can expect to receive a rent anywhere between Rs6,500 to Rs10,000 for low-end apartments; Rs12,000 to Rs20,000 for middle-end apartments and Rs18,000 to Rs35,000 for luxury apartments. The hiked rentals result in the good connectivity of this road to the city, thanks to the suburban trains. Its proximity to the airport also plays a huge part in the spiked rental value of apartments here.
Rajiv Gandhi Salai – Quality amenities in apartments play a pivotal role in perking up the rentals in this stretch. Often, the location of the apartment and its proximity to the city are factors that decide the value of the rent. Residents of this stretch are mostly BPO (Business Process Outsourcing) employees, essentially bachelors and spinsters on a transferable job. Students from across the country studying in colleges along this stretch also hold a share of the resident profile as do corporate guests. The lack of public transport on this stretch is also a major cause of worry for potential investors who wish to rent out their apartments. It is all these factors that reduce the rental value of an apartment on this stretch, in comparison with that on GST Road. As the arterial highway connecting Tamil Nadu’s capital Chennai to the southern regions of the state, the Grand Southern Trunk Road — or GST Road as it is popularly known, was a silent witness to zipping buses and trucks, carrying loads of people and goods for years. While Standard Motors, located on the southern outskirts of the city, had long stopped rolling out automobiles, the Madras Export Processing Zone (MEPZ), tucked a few km into the city on the stretch, was less glamorous to attract attention. In the mid-to-late 90s, when Ford and Visteon, along with a few auto component units set up base on the stretch, GST Road figured on...