Rentals, real estate prices for commercial spaces on the rise in Valasarawakkam

There seems to be a growing increase in the rentals and real estate prices of properties for commercial purposes in the Arcot Road area between Virugambakkam and Porur.

In the last quarter, prices have held high in the Alwarthirunagar region, especially on roads that are close to the main road that runs through this vast neighbourhood.

Take a road like Gandhi Road which runs bang opposite the Mega Mart store. A sleepy path 2 years ago, the rates for commercial space are high so much so that those seeking even 200 sq ft to open new businesses think twice if their budget is tight.

In many cases, property owners in this rtegion have redeveloped their plots, mostly ordinary houses into 1+1 or 1+2 buildings which can be occupied by stores / clinics/offices.

Some businesspeople here say that more residential plaots in the inner roads that run off Arcot Road will turn into commercial hubs because the area’s business seems to be on a upswing.

The coming of brand stores will further change this game.

KFC, Cafe Coffee Day, Waves, Mega Mart, TVS . . . this list is bound to grow this year.

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This entry was posted on Friday, February 25th, 2011 and is filed under News, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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