Residential Realty: Nestled Along Established Job Hubs, These Residential Areas Are In Great Demand

Residential Realty: Nestled Along Established Job Hubs, These Residential Areas Are In Great Demand
Residential Realty: Nestled Along Established Job Hubs, These Residential Areas
20 May 2020

This week Outlook Money’s Residential Realty, in association with Magicbricks, brings to you four such localities - India’s four key residential markets - that are nestled near prominent job hubs and are in huge demand. These localities boast of proximities to IT hubs and prominent commercial hubs with a good network of social amenities.

Sector 137, Noida

Located along the Noida Expressway, Sector 137 is a planned residential sector which is about 12 Km from the Mahamaya Flyover. It enjoys a scenic view with the presence of a 100-meter green belt running along the entire expressway stretch. Sector 137 is home to prominent residential projects from developers such as Paras, Exotica, Logix, Purvanchal, Supertech, Gulshan Homz and Ajnara.

Key Features:

  • The sector boasts proximity to core commercial / institutional sectors such as Sector 135, 136, 128 and 142.

  • Some of the key companies operating within 2-3 km of 137 sector are Genpact, Cognizant, Metlife, Accenture and KPMG.

  • The sector has easy access to several banks, schools, grocery stores, restaurants and hospitals, within a range of 5-7 km.

  • Residential complexes in the sector accommodate various retail stores, grocery shops, restaurants and pharmacies.

  • Delhi Public School, Genesis Global School, Felix Hospital and Jaypee Multispecialty Hospital, are some noteworthy social amenities nearby.

Connectivity: Precisely designed spacious roads and its own metro station on the Aqua line, provides excellent connectivity to Sector 137 with Delhi and other sectors in Noida. The sector is easily accessible from other parts of Noida and Delhi, via the Noida Expressway.

Old Mahabalipuram Road, Chennai

Popularly known as Rajiv Gandhi Salai (SH-49A), Old Mahabalipuram Road (OMR) majorly comprises residential developments in the form of multi-storey apartment complexes. Thiruporur, Senganmal, Padur, Kelambakkam, Navalur, Semmancheri and Sholinganallur are some of the areas which constitute the micro-market of OMR. Prominence of IT parks has made OMR a prime real estate hub for home buyers as well as investors.

Key Features:

  • The entire stretch of OMR houses multiple technology parks such as ELCOT SEZ, TIDEL Park, SIPCOT IT Park, TECCI Park, Pacifica Tech Park, Alpha City SSPDL, etc.

  • These workplaces host offices of various renowned organisations such as Cognizant, TCS, Capgemini, Wipro, HCL, Hexaware, Newgen Software and Nokia.

  • Notable educational institutions in and around OMR are Hindustan International School, Velammal Vidhyashram Padur, Gateway International School and Chettinad Sarvalokaa Education.

  • Reputable healthcare centres include Chettinad Health City, Supreme Speciality Hospitals, Centre for Vision & Eye Surgery and Swaram Hospital & Specialty Clinic.

  • Popular shopping zones in the vicinity are Vivira Mall, The Marina Mall, BMR Mall and OMR Food Street.

Connectivity: OMR is a 45 km long arterial road and the largest IT corridor across the southern suburbs of Chennai. It runs parallel to East Coast Road and seamlessly connects it with several employment hubs along with prominent locations in Chennai. The proposed Metro Corridor 3 (Madhavaram-SIPCOT) of Chennai Metro would also improve connectivity in the long term.

Hinjewadi, Pune

Hinjewadi has emerged as a developing residential area which comprises large township projects. It is an established employment hub in the north-western outskirts of Pune, situated 19 km from the city centre. Conveniently placed on the edge of Mumbai Highway (NH-48), Hinjewadi is closely connected to Wakad, Baner, Tathawade and Balewadi. It is primarily known for Rajiv Gandhi Infotech Park which is spread across all three phases of the locality.

Key Features:

  • Comprising multiple business parks and corporate campuses, the Rajiv Gandhi Infotech Park has offices of major IT/ITeS & BPO companies, along with some automotive and biotechnology units.

  • Infosys, Cognizant, Wipro, Capgemini, TCS, Cognizant and Synechron, are amongst several companies operating in Hinjewadi.

  • Hinjewadi has decent availability of social and retail infrastructure such as Xion Mall, Fountain Market, Vision One Mall and DMart Hinjewadi.

  • Mahindra International School, VIBGYOR High School, Blue Ridge Public School, Ruby Hall Clinic and Lifepoint Multispecialty Hospital. Moreover, a number of residential townships have their own shopping complexes.

Connectivity: Hinjewadi is connected with other areas of Pune through buses operated by Pune Mahanagar Parivahan Mahamandal Limited. Pune Junction Railway Station (20 km) and Pune International Airport (26 km) can be reached within an hour. In addition, the 23.3 km long planned metro Line 3 (Hinjewadi Phase III - Civil Court) is expected to ease connectivity within the city.

Salt Lake City Sector V, Kolkata

Salt Lake Sector V is a developed locality in the north-eastern part of Kolkata. It is majorly a corporate hub which also hosts various multi-storey apartment complexes within its close vicinity. The locality is surrounded by various residential localities of Salt Lake Sector I, II and III.

Key Features:

  • Presence of various business parks is a key driver of residential demand in Sector V.

  • Both, Sector V and the adjacent New Town area, are significant employment hubs in Kolkata, comprising offices of several IT / ITeS companies.

  • The locality is well-equipped with prominent educational institutions, healthcare centres and retail hotspots, in and around the vicinity.

  • Institute of Engineering & Management, International Institute of Hotel management (IIHM), Globsyn Business School, Techno India University are some reputed institutes of higher education in the area.

  • AMRI Hospital, Columbia Asia Hospital and Calcutta Heart Clinic are notable hospitals.

  • Mani Square Mall, Down Town Mall and City Centre Mall are the popular centres for retail therapy.

Salt Lake Sector V is easily accessible via a number of key roads including Eastern Metropolitan Bypass (EM Bypass), Salt Lake Bypass and Biswa Bangla Sarani. Local rail connectivity can also be availed from the nearest Bidhan Nagar Railway Station which is just 6 km from the locality. Moreover, Netaji Subhash Chandra Bose International Airport (15 km) and Sealdah Railway Station (9 km) are also well-connected with the area.