The recent announcement by Tamil Nadu Chief Minister J Jayalalithaa that a new Mofussil bus stand would be set up at suburban Vandalur to reduce the increasing congestion at the Koyambedu Mofussil Bus Terminus (CMBT), may escalate the property prices in the adjoining areas of the proposed new bus terminus.
“We had seen the same situation a few years ago when the chief minister announced setting up of Koyambedu inter-state bus terminus. Plots adjoining the area such as Virugambakkam, Vadapalani, Choolaimedu and Saligramam sold like hot cakes and property prices went through the roof once the work began. The real estate prices in the area are still on the higher side compared to other adjoining areas. The same situation will now be witnessed in Vandalur also in a few days,” says Suresh Kumar, a property consultant near Tambaram.
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