Planning an investment in ECR

East Coast Road (ECR) is a State Highway (49) of Tamil Nadu. It is a two lane scenic highway built along the coast of Bay of Bengal to connect Chennai to Cuddalore via Pondicherry. In recent times it has been extended to connect upto Kanyakumari, the southernmost tip of India. This 800km long road starts in Chennai with the scenic costal view and thus offering properties along it with beautiful bay views. Prior to its completion, the East Coast Road mainly consisted of village roads connecting one fishermen hamlet to another. The vital connecting link then was the Old Mahabalipuram Road (SH-49A) till Mahabalipuram. Pondicherry was reached from Chennai through the still existent and busy route via Tambaram, Tindivanam along NH45. The road was built in 1998 by interlinking and improving a series of small village roads that connected the fishing villages along the east coast. The idea was to create infrastructure, facilitate inter-state connectivity and boost tourist movement. ECR is considered a premium area for residential and commercial set up. Its proximity to the IT corridor of Chennai Old Mahabalipuram Road (OMR) is another reason why this area is getting so much recognition. The ECR starts at Thiruvanmiyur in Chennai and is a part of the Chennai City roads till Uthandi. From Uthandi starts the scenic beach way section starts as a toll road. The State Government is keen on expediting the proposal for four-lane-ing of the East Coast Road (ECR). The East Coast Road (ECR), known as Chennai's entertainment and leisure corridor, has evolved into one of the most sought-after residential localities of late. From being a weekend getaway destination in the previous decade to evolving into a major residential real estate corridor, ECR has seen a slow but steady transformation over the years. ECR’s residential development majorly consists of plots and lands that are purchased by the home-buyer and built to convenience into a luxury independent homes in Chennai . ECR, which was once a prominent weekend home or a guest house destination, is now seeing an influx of people who want to relocate from the busier parts of the city to the villas and high rise apartments here. Earlier, most real estate developers had only focused on sea facing villas showing the proximity to the beach as their primary selling point. But of late, many high-rise apartments are coming along the ECR. Properties in Chennai especially those along the East Coast Road are inviting to settle down there in either high rise apartments or extravagant villas. With the CRZ (Coastal Regulations Zone) now giving a green signal to creating multi-storey apartments in CRZ II regions ECR is witnessing a rise in premium housing options. Rapid developments here is making a hot market for both second time home buyers and off shore investors and with there being a high supply of residential plots, individual investors are now purchasing plots with the aim to sell them later at a higher price. The growing hospitality industry is further fuelling the demand. Hence ECR is an investment in style, which will yield great returns in very short period of time.