According to the latest plans made by the NHAI, the proposed Bangalore-Chennai Expressway may get an extension till Maduravoyal, Chennai instead of Sriperumbudur. With this proposed extension, now the proposed six-lane expressway will connect directly to the Chennai Port-Maduravoyal Elevated Expressway starting from Hoskote which is currently under construction.
It also said that once the complete work of Bangalore-Chennai Expressway will complete, the traveling time between the two Southern cities will reduce to a large extent thereby decongesting roads and relieving commuters.
“The cost of construction is pegged at approximately INR 3, 000 crore. Vertical development is being stressed on by the NHAI in order to bypass acquisition of land. Tenders will be finalized for both these infrastructural initiatives by the end of 2019 with the awarding of the project expected prior to March 2019.” Report added.
NHAI officials are also expecting that the 6 lanes elevated road running to Maduravoyal from Sriperumbudur from where the expressway was earlier supposed to end, will be going to add feathers in the realty markets of the sleepy suburban areas of Tamil Nadu. With many mega infrastructural developments in the queue, the residential real estate market of Chennai will altogether get a major boost.
Areas near Kelambakkam, Maduravoyal and Kolapakkam are supposed to become a hub of affordable housing units priced between INR 25-40 lakhs as per reports. Apart from this, with the metro project also steaming up, real estate markets around the metro network may also get a boom leading to several residential high-rises being built in these zones.
So with a promising future ahead, Bangalore-Chennai Expressway extension is all to give a boost to the real estate markets in several areas in Chennai adjacent to the expressway.