The city of Chennai has long been recognized as a hub of culture, trade, and education. Over the past two decades, it has also become a major IT powerhouse in South India. The rapid expansion of the IT corridor along Old Mahabalipuram Road (OMR) and its adjoining regions has reshaped the city’s real estate landscape. As multinational corporations, tech parks, and global startups continue to invest in Chennai’s IT infrastructure, the demand for residential and commercial land has skyrocketed.
In this article, we explore in detail how the growth of the IT corridor has directly contributed to rising land values in Chennai and why this trend is expected to continue.
Chennai’s IT Corridor: A Brief Overview
The IT corridor, primarily along OMR (Old Mahabalipuram Road), extends from Madhya Kailash in Adyar to Siruseri and beyond. This stretch has evolved into a thriving hub for IT and IT-enabled services, attracting top companies like TCS, Infosys, Cognizant, Wipro, HCL, and Accenture. With over 400,000 IT professionals working in this region, the corridor has become one of the fastest-growing real estate zones in Chennai.
Key highlights of Chennai’s IT corridor include:
Siruseri SIPCOT IT Park – One of the largest IT parks in Asia.
Tidel Park – A landmark tech hub that set the stage for Chennai’s IT growth.
Global corporate campuses of multinational giants.
Seamless connectivity through OMR, ECR, and upcoming metro expansions.
Impact of IT Corridor Growth on Residential Land Value
Rising Demand for Housing Near IT Hubs
The presence of large-scale IT companies has attracted a massive workforce to the OMR region. This influx of professionals has triggered high demand for residential land close to workplaces. Areas such as Sholinganallur, Perungudi, Navallur, and Siruseri have seen land prices double or even triple over the past decade.
Emergence of Gated Communities and Township Projects
With increased demand, several real estate developers have launched gated communities, plotted developments, and integrated townships. Land near IT hubs has become a preferred choice for both end-users and investors seeking long-term appreciation.
Affordable vs. Premium Segments
While the core OMR areas have witnessed steep price appreciation, outer stretches like Kelambakkam, Thalambur, and Padur still offer budget-friendly land options. Investors seeking affordable entry points are turning to these regions with expectations of future value appreciation.
Commercial Real Estate and Its Influence on Land Prices
The IT corridor is not just about residential growth—it has also spurred massive commercial real estate expansion.
Tech Parks and Office Spaces: The growth of IT companies has fueled demand for large office campuses, pushing up land prices in commercial zones.
Retail Boom: Shopping complexes, malls, and entertainment hubs have flourished, further increasing land value in surrounding areas.
Co-working and Startups: With Chennai becoming a startup hub, co-working spaces and innovation centers are driving demand for land near strategic business districts.
Infrastructure Development Driving Land Value
Infrastructure is the backbone of real estate growth, and Chennai’s IT corridor is no exception.
OMR Widening & Elevated Corridors: Road infrastructure has been upgraded to handle the rising traffic between Madhya Kailash and Siruseri.
Metro Rail Expansion: The upcoming metro corridors connecting key IT hubs with the rest of Chennai are set to further boost land demand and value.
Social Infrastructure: Schools, hospitals, and lifestyle amenities have mushroomed across OMR, making the region a self-sustained ecosystem.
Connectivity to Airport & City Center: With just a short drive to Chennai International Airport, the IT corridor is well-connected for professionals and global businesses.
Key Investment Hotspots in the IT Corridor
Perungudi & Thoraipakkam
Early beneficiaries of IT growth, these areas have transformed into prime real estate zones with soaring land prices.
Sholinganallur
Known as the IT gateway of Chennai, Sholinganallur is one of the hottest investment zones with both residential and commercial growth.
Navallur & Siruseri
With the SIPCOT IT Park as a growth engine, these areas continue to attract both developers and investors.
Kelambakkam & Padur
Offering relatively affordable land options, these locations are witnessing rapid residential expansion fueled by IT workforce demand.
Long-Term Appreciation Potential
The growth of the IT corridor is not a temporary trend. Several factors ensure sustained appreciation in land value:
Continuous IT investments from global corporations.
Government push for infrastructure development in OMR and surrounding regions.
Rise of hybrid work models requiring both residential and commercial expansion.
Strong rental demand from IT professionals, making land and housing developments lucrative.
Challenges and Considerations for Investors
While the IT corridor offers massive potential, investors should consider:
Regulatory Approvals – Ensuring plots have proper CMDA or DTCP approvals.
Infrastructure Overload – Rapid growth sometimes leads to congestion and infrastructure strain.
Price Volatility – Prime IT hubs may have higher entry costs, requiring careful planning for ROI.
Conclusion
The IT corridor in Chennai has fundamentally transformed the city’s real estate landscape. From Perungudi to Siruseri, every stretch along OMR has witnessed remarkable land value appreciation. Backed by corporate investments, infrastructure upgrades, and strong housing demand, this trend shows no signs of slowing down. For both short-term investors and long-term buyers, the Chennai IT corridor remains one of the most lucrative property markets in India.
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