Located just 2 km from OMR, flats for sale in Perumbakkam and Medavakkam, Chennai have gained attention and exponential capital appreciation in a very short span of time because of their proximity to the IT corridor. Tambaram and Sholinganallur are other important neighborhoods of Perumbakkam. A mammoth rise of 21 percent is expected in the price of properties this increase will get double fold in the next five years. There are reasons on Perumbakkam, witnessing high demand and supply for real estate and these include the following.
1. Close proximity to the IT and ITES corridor renders Perumbakkam its maximum share of benefits. This is because a large percentage of population working in the IT companies of OMR and ECR find it difficult to pay exorbitant rentals or property prices in OMR and ECR and instead prefer flats for sale in Perumbakkam and Medavakkam that are relatively more affordable and also do not compromise on travel convenience.
2. The Government policy of Premium FSI that came into act in 2010 permitted creation of larger buildings. The current demand from real estate investors is large homes and properties so that there is maintenance of high lifestyle standards and greater spaces for the entire family to live luxuriously. Also, bigger spaces allow for the creation of several amenities that smaller homes cannot even dream of.
3. Relative affordability is a concept that interests Real Estate investors of Chennai. While it is difficult to think of investing in Real estate in most metros owing to ridiculously high prices; some regions in Chennai and more importantly, Perumbakkam and Medavakkam are more relatively more affordable enabling even the middle income groups of the society to find their choice of property here.
4. Excellent connectivity to every important destination of Chennai has enabled investors to favorably consider the Real estate growth prospects in these regions today. Unusually high travel time, inconveniences during travel and lack of public transport are not some of the problems that characterize Medavakkam and Perumbakkam.
5. Good roads are constructed in Perumbakkam and Medavakkam regions thereby gearing the area for exceptional infrastructural development. Progress in infrastructure is one of the primary drivers in determining a city’s growth and development metrics.
Flats for sale in Perumbakkam and Medavakkam thus have instant appeal, relative affordability, bigger homes and exceptional connectivity making them instant hit amongst Real Estate investors.
The IT Highway, OMR
Builders in OMR
No comments:
Post a Comment