Chennai: Areas adjacent to the Outer Ring Road (ORR) in Chennai have seen an upward trend in the real estate sector. Property prices on the outer ring road have seen price appreciation of more than 200 per cent in the past three years.Chennai’s overall real estate sector is going through a sluggish phase, and peripheral areas of the city have observed very less absorption in the past few years, but outskirt areas which are located near by the ORR have seen a significant rise in property demand.Development of the ORR has resulted in the real estate boom in outskirt areas of the Chennai. Adjoining areas like Mannivakkam, Padappai, Perungalathur, Kundrathur and Mudichur have observed maximum demand in the real estate market. The ORR first phase connects Vandalur and Nazrethpet areas and these areas are also booming up with good price appreciation.The Government has announced a 65 acre bus terminus which will connect GST Road and the ORR through Vandalur. This infrastructure will further help the ORR abutting areas to get higher price appreciation.Prices in the ORR stretch are even higher than renowned areas like old mahabalipuram road, east coast road and Bangalore highway. Only issue in ORR adjacent areas becoming next hotspots of the city is their lack of infrastructure, but the Government has plan to develop better infrastructure in these areas.Growth of the ORR and its adjacent areas can be attributed to a low base price of properties when it started off. The ORR stretch is now almost complete with the total cost of 1081 crore. займ на карту без отказов круглосуточновзять кредит онлайн