Metro rail floats tender to build headquarter in Nandanam

Rapidly developing infrastructure plays a pivotal role in the growth of any locality and Nandanam is no different. This area in Chennai is popularly known for its calm and serene environment. A few art colleges here and there have ensured the neighbourhood remains a residential area. However, the locality will receive a major face-lift once the Metro rail project’s headquarters is built here.

A tender has been floated to contractors across to construct a few buildings which will serve as the Metro Rail’s Headquarters. Spread across eight acres of land, the tallest buildings amongst all will comprise of nine floors and the HQ will be officially called as the Metro Bhavan. It will also have many staff quarters. Although the CMRL (Chennai Metro Rail Ltd) currently has an office in Koyambedu, the new HQ will be built near the Nandanam underground station on Anna Salai.

The HQ will be built on the property where the Poultry Research Centre stood before. The tender is likely to be opened in June and the identified contractor is expected to finish the project within 24 months.

While the old prison campus was cited to be the ideal destination, the lack of space persuaded the company to head to Nandanam. And with the area being well connected to other parts of the city, its looks like an ideal destination to have a HQ. The announcement of having a HQ here have enticed many potential homes buyers to invest in properties here. Real estate developers and off shore investors who had stocked up inventories are now offering those flats for sale in Nandanam at a higher price. On an average 3 BHK apartments here are cited to cost INR 14,500 per square feet. But with the demand for homes consistently growing, the prices will soar. Capital values of homes in the past one year itself have appreciated by over 30% and the trend is likely to continue further.

So if you want to make a realty investment that reaps great benefits- investing in a property in Nandanam is the thing to do!

Nidhi C Thacker for IndiaProperty.com

Image: ”Chennai metro during trail run” by VtTN – Own work. Licensed under CC BY-SA 4.0 via Wikimedia Commons – http://commons.wikimedia.org/wiki/File:Chennai_metro_during_trail_run.JPG#/media/File:Chennai_metro_during_trail_run.JPG

By: indiaproperty.com