Development is driven by both economic growth and the availability of adequate social infrastructure such as school,shops,malls and cinemas. Something which Bangalore scores better than Chennai.
Generally, before a residential project comes up in a particular location, the social infrastructure around that area has to get developed first. When we compare the development of areas such as Whitefied,Hosur Road to that of OMR or the GST road , it becomes clear that the social infrastructure in Chennai has a long way to go when compared to Bangalore.
The social infrastructure in Bangalore is far superior to Chennai, which has resulted in a better quality of life there. The Garden City has seen well executed township projects with superior amenities and facilities, whereas Chennai is yet to see a well-rounded fully executed township project.
The pace at which the social infrastructure followed the real estate development in the form of schools and retail development is superior in Bangalore. Chennai’s development lacks adequate social infrastructure such as schools, hospitals, malls, restaurants, multiplexes, supermarkets and entertainment choices.
In Chennai, if residential developers want to keep their property offerings affordable, they will have to look at places in suburbs with limited infrastructure to keep costs down. Areas with good infrastructure are in short supply, which has resulted in prices going upwards whereas the pricing remains stable or stagnant in locations which lack first-class social infrastructure. Developers in Bangalore come out with innovative products, which means competition is far more intense than in Chennai.
The immediate need for Chennai is good supply of land like Bangalore, which will help build communities with good social infrastructure and other utilities. If that comes in, innovation in residential products will start setting in since the developers require uniqueness and differentiation to sell their products.