2 Acres of land (Nanchai) on Outer Ring Road of Chennai, India, is for immediate sale.
What is ORR?
CMDA is planning the development of Outer Ring Road (ORR) along the periphery of Chennai Metropolitan Area (CMA) with the objective of relieving the congestion within the city and also for catalysing the even dispersal of urban growth.
ORR connects NH45 at Vandalur, NH4 at Nazarathpet, NH 205 at Nemilichery, NH5 at Nallur and TPP road at Minjur and is of length 62.0 km. The configuration of the alignment comprises of dual system of both road and rail corridor in a width of 72m. 50m. wide portion of land is reserved for future developments. The estimated project cost is about Rs.1081.40 crores.
Land Acquisition has been taken up in two phases. The first phase of land Acquisition from NH 45 to NH 205 for a length of 29.2 km. covering 29 villages has been completed and possession taken over by CMDA. The second phase of acquisition from NH 205 to TPP Road covering 27 villages is under progress.
The Government in G.O.Ms.No.200, Highways & Minor Ports (HF2) Dept., dt.08.10.09 have approved the revised administrative sanction for the implementation of the first phase of the ORR from NH 45 (Vandalur) to NH 205 (Nemilichery) for a distance of about 30 km, facilitating six lane traffic at a cost of Rs.1081.40 cr. under BOT-Annuity basis. The Tamil Nadu Road Development Company (TNRDC) has been appointed as the Managing Associate for the project to monitor and co-ordinate the implementation of the project on behalf of Government of Tamil Nadu. The work has been awarded to M/s GMR Chennai Outer Ring Road Private Ltd., for executing the project in two and half years. Execution of the project had since commenced.
Where is this land located?
It is near Veerapuram in Moorai Village; Veerapuram is about 5 KM from Avadi Railway Station; Avadi ia well developed suburban area in North - West Cehnnai. It falls in Segment 3 – CTH Road (Nemilicherry) to GNT Road, (Nallur) Length – 18.8 km. Please get more details at
http://www.cmdachennai.gov.in/outerringroad-profile.html
It is very near to Vel-Tech Engineering College.
Investment & Return
It will require Rs 8 crores of investment for outright purchase of freehold land of 2 acres. The ORR is expected to be completed in 2 years. On completion, the investment may yield about 400-800% return.
The land is suitable for Mall, Office complex, Godown, Higher Education, Research Instuitions, Hotel, Kalyana Mandapam,etc.
Contact:
loganathan.pattabi@gmail.com or 9445394113
