If you think that Mall culture is new to the Chennai city, then you might be wrong. The city may perhaps be one of the oldest to have brought in the mall culture with Spencer Plaza in Mount Road. But the world never stopped experimenting and contemporary malls do not just represent convenience and comfort but also affluence and luxury. Today, Chennai is inundated by malls of all kinds in every prominent part of the city. As the population moves to peripheral regions, the need for development of malls in those regions also increases tremendously. Perumbakkam, one such kind of region, is a Real Estate investor’s paradise. Flats for sale in Perumbakkam are on a high as they are close to a number of malls, serving as recreation destinations, thereby influencing the modern lifestyle of the urban population.
Entry of Major Multinational Retail Players in Chennai
Although Chennai is seeing an inflow of several modern and beautifully architected malls; a number of multinational retailers are making their way into the city and these developments are proposed in the second half of 2014. The investment scenario in 2013 may not have been so conducive to the entry of these major players but 2014 demonstrates to be a more open stage for them to make their advent. A fresh supply of retail space can be seen in different pockets of Chennai that includes suburbs such as Perumbakkam. In a day and age where weekends are dominated by visits to a mall, the retail spaces are caching in on the presence of residential communities in and around their premises. Hence, most malls are located in residential localities that show great potential of development.
Mall Culture and Real Estate
As mall culture occupies a significant position in the lives of city people, both the CBD and suburban markets have fair share of malls and retail spaces where people can shop, buy, eat and enjoy. Today, flats for sale in Perumbakkam have even accelerated in their momentum mainly because being enhanced by the construction of shopping malls in and around the region. Malls like The Laurel Mall and Gold Souk Grande Mall in GST Road, MARG Junction and Coramandel Plaza Mall in OMR are some of the retail spaces that are located in and near Perumbakkam. Chennai by itself has seen a deluge of malls in the last 5 years and their development has been massive. The growth of malls is indicative of the kind of development a city is witnessing or expected to go through.
- Sumangali Homes
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