How has Perumbakkam evolved over the last decade in Chennai?

Real estate in Chennai represents a big market in India. Commercial, Residential and Retail Real Estate have been burgeoning and Chennai is ranked top on the list of Real Estate destinations demonstrating great potential today and tomorrow. While many regions in Chennai are progressing rapidly, Perumbakkam seem to outdo the performance of other properties in other regions. Connectivity, affordability, proximity and ROI are the main drivers of Real Estate growth and demand of the flats for sale in Perumbakkam. Each of these factors play an important role in driving progress of Real Estate market in Chennai.

Evolution of Perumbakkam

Perumbakkam has in the recent years seen an upsurge in the number of residential projects, particularly flats. But this was not the case even a decade ago. Vast expanses of agricultural land lined Perumbakkam and the nearby regions. The region was dotted with sparse civilization and little or no sign of development. But today, this is the same region that promises exceptional returns on your Real Estate investment. Flats for sale in Perumbakkam, today are hot properties that attract investor attention from not just the residents and occupants of the city but also by NRI population and expatriates. Perumbakkam’s proximity to SEZ and the IT corridor is perhaps the biggest reasons for the region to enjoy the Real Estate status it is enjoying today.

Rentals in Perumbakkam vs. OMR

Rental demands have always been high in the OMR belt owing to the rapid demand for housing. With increased demands, rentals have also dramatically catapulted to new highs. While many professionals resort to OMR region for residing, there is a greater number of IT and manufacturing professionals that prefer Perumbakkam, Medavakkam, Vengaivasal....etc, that do not compromise on proximity but are relatively more affordable than OMR. So, while they enjoy the benefits of proximity, they don’t really pay exorbitant rentals.        

                                          

Properties in OMR

Purchase of Properties in Perumbakkam vs. OMR

Flats in Perumbakkam are not just ideal as rental properties but also are perfect for purchase. Buying a property in the OMR may be near impossible for many buyers. However Perumbakkam can offer nearly the same amenities and advantages at much lesser property purchase costs. Hence, the flats for sale in Perumbakkam enjoy more demand and requirements amongst the Real Estate investing community in Chennai. 

Where You should be Investing in the Next Five Years in Chennai?

Investing in residential spaces is no simple ordeal. They are for most investors, life altering decisions since a lot of money is at stake. However, a rightly chosen home can bring in exponential returns and immense satisfaction. There are many factors that go into the decision of purchasing a new or proposed property. Location plays a big role in choosing a property of your choice. The current market trends in Chennai draw favorable conclusions on specific pockets. Flats for sale in Chennai suburbs fall under such a category. Today, prospective buyers are in the lookout for up-market apartments and homes in suburban regions not only because of existing favorable reasons but also because of high ROI properties here promise.

Perumbakkam is one of those suburbs in Chennai where you should be investing in the next five years to reap large returns. There are a number of reasons why Perumbakkam is expected to rule the Real Estate roost. Here are some significant factors contributing to a purchase choice.

• Perumbakkam enjoys unparalleled location advantage. Perumbakkam is well connected to the two IT corridors, OMR as well as Sholinganallur through ECR Link Road. Enhanced connectivity between Perumbakkam and Siruseri establishes quick and easy commute to Siruseri IT Park. The setting up of Financial City in the vicinity multiplies location advantage in Perumbakkam. And because of these reasons, majority of flats for sale in Perumbakkam are bought by IT population.

• Perumbakkam offers a balance of all kinds of homes and properties. There are these large up-market apartments preferred by those with deep pockets and also the smaller homes that are afforded by the middle income groups of people. 

• Relatively reasonable land prices in Perumbakkam fuel the construction of villa projects since the area has an abundance of land that can be utilized for development of residential and commercial Real Estate.

A 3BHK Model Flat in Perumbakkam

All these reasons and more make Perumbakkam a favorable destination for Real Estate investment in Chennai. This is one region that you should consider investing in within the next five years to take home big returns on your investment.

Social infrastructure is being strengthened in suburbs of Chennai as the areas like Perumbakkam gears itself for a realty boom. As the flats for sale in Chennai suburban regions  are rapidly booked for delivery, the areas are also fast observing construction of hospitals, educational institutions and shopping malls to make life as close to the Central Business District as possible.

                                                                                                            
                                                                                                        

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The Pleasing Characteristics of Perumbakkam from Real Estate Perspective

Chennai Real Estate favors certain pockets of the city a lot more than it does with the others. Perumbakkam represent a classic example of such preference, particularly with residential flats. A few years ago, Perumbakkam was relatively unheard of in the Real Estate circle. The region had vast expanses of agricultural land with very little development to talk about. But, today the landscape of Perumbakkam is almost entirely different. Perumbakkam represents a contemporary place in Chennai lined by multinational business, retail centers, also the infrastructural development and modern high rises. It is no wonder why regions like Perumbakkam feature in the most sought after destinations for Real Estate investment in Chennai.

Some distinct reasons 

• Perumbakkam is well connected to every important region of the city. Even if you have been a Central Business District (CBD) dweller, Perumbakkam connects you well to the CBD through a good transportation system.  

• Proximity to OMR invites interests of IT public that prefer to cut down their commute time to and from work. Professionals working in Sholinganallur, GST Road and ECR find Perumbakkam an ideal suburb for living in.

• There are a number of Real Estate options in Perumbakkam, residential sector in particular. One can choose from the abundance of living options, either the flats or the villas, over and above many other residential localities of Chennai.

• Perumbakkam is only on the brink of development and hence Real Estate here is still more less priced when compared to most other areas of Chennai. Pricing advantage in Perumbakkam gets eyeballs especially because returns on investment are expected to be exceptionally high.

• Many parts of Chennai, some even in the CBD, face the dearth of pure drinking water. Perumbakkam has a large water source and hence it is never a problem here. 

• Perumbakkam is no exception to social infrastructure you can find in any other part of Chennai including the CBD. Today, Perumbakkam has a number of educational institutions, entertainment avenues, malls, retail centers and hospitals and other medical facilities besides a lot more.

Podar Jumbo Kids- A Kids Institute

• The flats for sale in Perumbakkam have a greater number of basic and urban amenities especially because large pockets of land facilitate the construction of self-sufficient paradises of living.

• Nearly every premium builders in Chennai has shifted focus to Perumbakkam thereby accelerating the Real Estate development rapidly.   

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Real Estate Builders in Chennai

Perumbakkam proves to be a Big Name for Real Estate Investment in Chennai

Real Estate experts vote South Chennai as the hot and best destinations of investment on Real estate in Chennai. Flats for sale in Chennai are good investment choices while they observe more demand in certain parts of the city than other locations. South Chennai as studies show is a good place for property investment because there is substantial infrastructural development and abundant commercial and retail activities that cater to urban living. GST Road, Tambaram, Medavakkam, Perumbakkam and OMR make hotbeds for Real estate investment. There are ace and premium Real estate projects in south Chennai that observe rapid bookings as soon as they are launched. Among them, Perumbakkam is a fine location that includes high and low priced flats surrounded by modern commercial centers, malls, luxurious restaurants and recreation complexes.

The Real Estate Scenario in Chennai

Real estate in Chennai shares space with those of Bangalore, Delhi and Mumbai to occupy the top investment choices when it comes to realty hot choices of the Asia-Pacific region. Although, a general economic recession poses challenges and risks in the Indian realty market, heavy interests on high returns is

Courtesy: Bloomberg TV India

one of the primary reasons why demand for housing is not meeting its saturation in Chennai. There are specific locations in the city that are consistently observing high demand and increasing prices. Flats for sale in Perumbakkam fall under this category of locations that are up-market today and expected to be enhanced in their market value in the years to come as well.

Perumbakkam rules the roost 

Perumbakkam is a rapidly developing suburb. Located just a few kilometers away from OMR, Perumbakkam is situated in close proximity to the IT corridor. Bound by Sholinganallur, Medavakkam, Chemmencheri and Sithalapakkam; Perumbakkam has more than a few reasons to be considered favorably for investment on Real estate in Chennai. 

Residents of this locality work at the IT corridor and hence staying at Perumbakkam gives them the location and commute advantage. Chennai airport is only 15 kms away from Perumbakkam. Hence, the region is also home to a large percentage of migrating professionals, NRIs and expatriates visiting from other countries. Flats for sale in Perumbakkam are today modern homes that are spacious, Eco-friendly, complete with modern amenities and guarantees high returns on investment. 

Perumbakkam is a fine choice of location for Real estate investment; It is proving by the day that the locality is considered one of the finest locations of investment on Real estate in Chennai.

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Builders in Chennai

An Overview of Properties in Perumbakkam, Chennai

Do Apartments available for sale in Chennai Suburbs worth the Investment?

Most investors seek important destinations for investing their money. Real estate in Chennai is a significant medium for receiving large returns on investment especially when the choice of location is made with some diligence. In this case, apartments for sale in Medavakkam and Perumbakkam, Chennai are emerging as a hub for Real estate Investment. Chennai has been witnessing exceptional Real estate growth over the last two decades. While the Central Business District (CBD) has always been the primary center of attraction for both Commercial and Residential Real estate investment; there were other regions that gradually but firmly established their presence in the market. 

OMR and ECR were the forerunners of Real estate progress in Chennai. They were the first regions in the suburban market to observe massive focus from an otherwise conventional mindset of residents in Chennai. Today, these regions witness maximum prices that can be compared to the CBD of the city.

Gradually, as industries made their advent in Chennai; other locations like Sriperumbudur, Grand Southern Trunk(GST) Road, Medavakkam, Tambaram and Perumbakkam also rapidly followed suit in terms of Real estate development. Several Realty reports have identified Medavakkam and Perumbakkam to be the nest destinations of Real estate boom after OMR and ECR. There are substantial reasons that support this forecast.

1. Location advantage

Medavakkam and Perumbakkam are located close to each other and together they are located in close proximity to the important neighborhoods of Chennai namely Tambaram, Sholinganallur, GST Road and more importantly the IT/ITES corridor of Chennai, OMR and ECR. 

2. Connectivity

Connectivity is an important factor that drives decision making when it comes to seeking property either for purchase or rentals. When a location is well connected to other parts of the city through several mediums of transport and speed and convenience play big roles, those locations yield big return on investment. Apartments for sale in Medavakkam and Perumbakkam, Chennai qualify under this category.

3. Price

Real estate Investors across all sections of the society consider price as one of the important factors that drive a decision making process. Apartments for sale in Medavakkam and Perumbakkam, in Chennai are relatively more affordable than the properties in CBD or other parts of the city. However, they are expected to yield more returns and better capital appreciation in the years to come. Therefore investing in properties here is a wise investment choice.

4. Facilities                                                       

The modern man is a slave of lifestyle. He prefers to lead a life of high standards, live in large homes made of reputed builders and stay in places filled with urban amenities within the premises and in the surrounding areas. Therefore, besides location and price, amenities have changed the way people consider Real estate investment. Properties with swimming pool, tennis courts, fitness center, clubs have become fundamental options and amenities such as and preferably international schools, medical centers and retail centers further the value of the property. The elite and a significant part of the middle income groups prefer such properties today and this number is only increasing. Hence, such properties are great investment options today and  the future.

Chennai Lifestyle reflection on a mini public transport

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Builders in OMR

          

Why and Where you should Invest on Flats in Chennai?

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

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Builders in OMR

Perumbakkam attracts Investors with Location advantage

Flats for sale in Perumbakkam are growing in numbers for reasons and location is perhaps the number one in the list. Here is why Perumbakkam enjoys a favorable location. 

• Perumbakkam is not too far away from the omnipotent OMR (2 kms) that is home to the IT/ITES corridor of the city.

• Perumbakkam is bound by popular neighborhoods and other important areas of Chennai namely Sholinganallur, Medavakkam and Sithalapakkam. 

• Perumbakkam is also connected to Tambaram and hence in early March this year, the region recorded an amazing 21 percent increase in property value. 

• The much awaited project of ELCOT SEZ is expected to at least double the realty prices of Perumbakkam in the next five years. 

Apartments for sale in Perumbakkam thus experience star status owing to the location and amenities they bring along. 

Flats in Perumbakkam have begun to take over the up-market trend like other thriving locations of Chennai. And an increasing number of premium builders are also creating landmark properties combining the best of architectural standards, aesthetic appeal and functional excellence in the homes and commercial buildings here. Perumbakkam and the adjoining Vengaivasal are further expanding the city’s geography to accommodate the realty demands of the city’s population. As realty prices in the city skyrocket and spaces plunge, the population of Chennai is persuaded to seek suburban markets where both elements are not a concern as yet. And in order to cater to the growing demand of the residents in such localities, the area becomes equipped for overall development.

Highlights of Perumbakkam 

source: 99acres.com

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Builders in OMR

Why is Perumbakkam a preferred destination for Real Estate investment?

Perumbakkam is one of the fastest growing areas in Chennai. Flats for sale in Perumbakkam are increasing rapidly and demonstrate the developments the region is experiencing. Located in close proximity to Tambaram, Perumbakkam has all the luxuries when it comes to connectivity, commercial growth, international facilities and contemporary homes and apartments.

Perumbakkam is also closer to Pallikaranai, Sholinganallur, Sembakkam, Vengaivasal, Keelkattalai, OMR and several other significant areas of Chennai. Flats in Perumbakkam observe higher demand because of proximity to OMR that is home to the city’s IT/IT Enabled Services corridor. Resident and migrant population of Chennai work in the IT corridor that houses numerous major multinationals. These companies

generate employment opportunities in the thousands. Therefore, increased employment has furthered the population of the city. The existing and new population demands contemporary housing either for rentals or for purchase.

Flats near OMR are therefore witnessing highest demand in the city. Interestingly, infrastructural developments are also at a rapid pace because of the vicinity to the international airport. Further, the construction of the city’s biggest infrastructural project, the Metro on Grand Southern Trunk road is again not too far away from Perumbakkam. With all these developments underway, it is no wonder that the area is likely to multiply in terms of growth and capital appreciation in the future. Numerous investors have shifted focus from other parts of Chennai to Perumbakkam and Medavakkam considering the rental and appreciation prospects the area is likely to offer shortly.

Author Name: Daisy Pete
Article Source: www.goarticles.com