The Chennai Metro is playing a key role in the development of the real estate sector. It improves connectivity across different places and converts remote areas into some of the best places to live in Chennai. Since Phase 2 of the metro rail is all set to launch, you can expect the property value to improve with time.

The new phase is also expected to touch Madhavaram in Chennai, which was traditionally a backward area. In this post, we will explore the overview of this expansion. In addition, we will explore how this development can impact the real estate in Madhavaram.

Overview of the extension of Chennai Metro

The impact of Chennai Metro on the real estate begins with the first phase. It now presents 45 km of railway tracks with connections to crucial areas, like Koyambedu, Alandur, etc. Surprisingly, these corridors give thousands of people an easy way to transport themselve around. Now, phase 2 is expected to serve more than that with better connectivity in areas like Madhavaram.

The second phase focuses on building 128 stations, with each spanning around 118 km and passing through residential and peripheral areas. The expansion will cover three corridors:

The development focuses on linking key areas in the city. According to the latest reports, many sections are about to be completed. In addition, the trial runs are conducted on particular routes that reflect the commitment of CMRL to timely execution.

The metro expansion will give you easy access to hospitals, schools, and other commercial areas. Now, the metro stations have become an important criterion for choosing a property for investment or living. Thus, this upcoming expansion is expected to bring defining growth for people looking for apartments for sale in Madhavaram.

Impact of metro expansion on real estate

1. Improved accessibility

The area expansion of Chennai Metro will reshape local mobility. In addition, it will provide you with faster and more efficient transit within the city. Moreover, you will experience shorter commutes in metro-connected areas. Additionally, better metro access will integrate previously underdeveloped areas, boosting Chennai real estate's attractiveness.

2. Increase in property value

Properties, like new apartments in Madhavaram, are experiencing an increase in demand due to their increased connectivity. It will attract both end-users and investors due to the convenience of living near the metro corridors. For example, Kelambakkam, Madhavaram, etc, are experiencing the peak in the property price because they are part of the phase 2 Chennai Metro plan.

3. Urban reactivation

Metro expansion in Chennai will drive urban lives by modernizing infrastructure and boosting economic growth. Redevelopment projects around these stations are developing a well-planned locality with the aim of sustainability. It is improving the overall livability of the city and making it an attractive area for property investment and long-term residency.

4. New residential and commercial hubs

This project is creating a new center to meet residential and commercial needs. Metro connectivity is converting areas into different locality that attracts retail outlets, residential apartments, and office spaces. It is developing a balanced ecosystem for living areas and the workspace.

How metro project attract appreciation in real estate?

The nearest location to the metro directly means increased property value. Thus, purchasing a 2 BHK flats in Madhavaram would be more beneficial. It will provide you with improvement in quality and successful living in cities. Therefore, the expansion has the potential to increase interest in local and international buyers.

It has also led to better-standard housing, gated communities, and similar infrastructure.in addition, metro corridors are the right place for long-term investment income. Moreover, they have better rental returns, which is good for those who want an advantage from the metro connectivity in Chennai.

Nowadays, purchasing metro-connected properties indicates that selecting the best of the whole world. Areas like Tambaram and Kelambakkam will prove perfect for ownership and investments because the impact of the metro in Chennai has slowly been revealed.

Property Appreciation and ROI

Stats from the real estate consultants mention that properties under 500 meters of a metro station in Chennai have improved by 15 to 25 percent faster, compared the similar flats or apartments without metro access over the previous five years. It means that stronger capital pricing and better rental results.

Conclusion

The expansion of Chennai Metro doesn’t only mean that it will make the transport easier. In addition, this will improve the opportunities for people looking to purchase flats in Madhavaram. You will get many benefits by buying your dream property in this region. So, purchase the right property with SilverSky Builders.