Tucked away on the outskirts of North Chennai is Ponneri, a small town with a population of nearly 6 lakhs. While it may seem like a sleepy little town, Ponneri is set for a radical transformation, with the state government planning a smart city here. We list 5 reasons why Ponneri should be on your investment radar.

1) Say ‘Hello’ To Ponneri Smart City

Ponneri may not have made it to the 100-smart cities list, but the state government has decided to develop it as a smart city in collaboration with the Japan International Cooperation Agency (JICA). Nearly 22,000 acres have been earmarked for an automotive and machinery hub, at a cost of almost 33,000 crores. Experts say this is sure to immensely boost property markets in the region.

2) Investments Are Already Pouring In

Some of the biggest names in India Inc have already setup shop in Ponneri. The Mahindra Group has setup an Rs 400 Crore industrial park in collaboration with Japan’s Sumitomo Corporation. Couple this with JICA’s Smart City Investment and it is easy to see that growth in Ponneri will be going through the roof over the next few years.

3) Job Markets Are Already In Place

Ponneri is also close to the Gummidipundi SIPCOT and SIDCO Industrial Parks, both of which are already employment hotspots. If that wasn’t enough, Ponneri is also close to L&T’s Kattupalli port and Ennore port, making it an attractive hotspot for employees working there. And once the automotive and machinery hubs are setup, more jobs will come flooding in.

4) Infrastructure Is Set For A Big Boost

A lack of proper roads, bridges, and flyovers has been huge minuses for Ponneri in the past. However, this will change once the investments for the smart city come pouring in. Ponneri will then be developed as one of 3 major industrial nodes on the Bengaluru-Chennai Industrial Corridor from Hosekote to Sriperambadur. Work on a metro rail and the outer ring road connecting the port to the Grand Southern Trunk (GST) road is already underway.

5) Ponneri Is Great For Buyers On A Budget

Apartments in Ponneri are selling at an average starting price of Rs 4,300 to 4,800 rupees per sq. feet. You could actually buy a 1,000 sq. feet apartment for under Rs 50 lakhs. Top developers like Prince Foundations, Arihant, Jain Housing, Olympia and Appaswamy Real Estate have already launched products here. Even Mumbai-based developers like Prime Lifespaces have launched projects in Ponneri to capitalize on rising demand.

Reporter: Smitha TK, NDTV
Web Editor: Nikhil Narayan Sivadas, NDTV