The rise of the IT corridor has played a significant role in transforming Chennai’s real estate landscape. With the concentration of major technology parks and multinational companies along Old Mahabalipuram Road (OMR), areas that were once considered suburban or underdeveloped have seen substantial growth in property values over the past two decades. The shift is not sudden but has been shaped by a series of steady developments tied closely to employment opportunities, infrastructure upgrades, and changing housing preferences.
Development of the IT Corridor
The IT corridor, also known as OMR, was initially developed as a designated zone for information technology and related industries. Starting from Madhya Kailash and stretching through Sholinganallur, Navalur, and further to Siruseri, this stretch gradually became a preferred location for corporate offices. Companies such as TCS, Infosys, Cognizant, and Wipro established large campuses, creating thousands of jobs in the process.
This commercial development led to an increased demand for residential properties nearby. Employees wanted to live close to their workplaces to avoid long commutes, and this drove up both the demand and the value of housing along the corridor.
Shift in Demand for Housing
Areas along the IT corridor began to see a transformation in their housing profiles. From stand-alone houses and small apartment blocks, the landscape shifted to multi-storey apartment complexes and gated communities. Developers began launching large-scale residential projects to meet the needs of the growing working population.
Sholinganallur, for instance, has turned into a hub with mid-segment and premium apartments. Further down OMR, localities such as Navalur, Semmancheri, and Siruseri have also gained popularity. These areas, previously considered remote, are now viewed as prime residential zones due to their proximity to employment centers.
Impact on Property Values
The impact on property values has been significant. Over the past 10–15 years, land prices along OMR have seen a sharp increase. Apartments that were once priced modestly are now quoted at much higher rates. Even rental values have appreciated due to the constant influx of professionals working in nearby IT parks.
As infrastructure improved and civic amenities followed the development wave, real estate along the corridor gained long-term stability. The widening of roads, construction of flyovers, and better connectivity to the city center contributed to the higher valuation of these localities.
Connectivity and Infrastructure
One of the critical factors contributing to the corridor’s growth has been its improving connectivity. The introduction of dedicated bus lanes, plans for Metro Rail extension, and increased public transport options have added to the appeal of OMR as a residential destination. The availability of schools, hospitals, shopping centers, and entertainment venues has further supported residential demand.
While certain stretches still face traffic congestion during peak hours, the ongoing infrastructure developments are expected to ease these concerns over time.
Rise of Social Infrastructure
With the growth of residential demand, social infrastructure has also expanded. Leading schools, colleges, and healthcare institutions have opened branches along OMR to cater to the growing population. Shopping malls, supermarkets, restaurants, and entertainment centers have followed, making these areas self-sufficient.
The presence of these facilities not only improves the quality of life but also plays a key role in maintaining high property values. Buyers and renters often prefer locations where essential services are readily accessible, and OMR is beginning to meet those expectations more consistently.
Investor and End-User Interest
The growth of the IT corridor has attracted both investors and end-users. Investors see long-term appreciation potential in properties close to IT hubs, while end-users prioritize convenience and access to employment. This combined interest has kept transaction volumes steady and has provided consistent appreciation over the years.
In particular, 2 and 3 BHK apartments have seen the most demand, with developers focusing on delivering homes that meet the requirements of young professionals and growing families.
Changing Perceptions of Peripheral Areas
Before the development of the IT corridor, many areas along OMR were not considered for serious property investment. But with steady job creation and better infrastructure, perceptions have changed. Locations such as Thoraipakkam, Perungudi, and Karapakkam have transformed from relatively low-demand zones into areas with high residential interest.
While central Chennai continues to retain its value due to its legacy status and commercial importance, the IT corridor has opened up fresh avenues for homebuyers and investors. Properties in Chennai have expanded beyond their traditional zones, with OMR becoming a major growth axis.
Conclusion
The IT corridor has been a defining factor in the transformation of Chennai’s property landscape. By creating job opportunities, supporting infrastructure growth, and altering residential patterns, it has shifted the focus of both buyers and developers to areas that once held little attention. As a result, property values along this corridor have seen consistent appreciation, supported by strong demand and improving amenities. For those evaluating long-term value and practical benefits, the IT corridor remains a key area of interest among Properties in Chennai.
