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. 

Property sale in Perumbakkam reaches New level

The new interest of the property buyers or Real Estate investors in Chennai is the flats for sale in Perumbakkam. Some years back, Perumbakkam was a no-man’s land with very frugal residential activity in the region, but today, Perumbakkam has emerged as one of the hot spots of Real Estate investment in Chennai. There are a number of reasons that easily make Perumbakkam a favorable investment option.

Price

The middle income and upper middle income segment of Chennai population find it near herculean to invest on properties in the Central Business District of Chennai. Regions such as Valasaravakkam, Tambaram, Perumbakkam..etc are in close proximity to CBD and yet offers relatively more affordable pricing in flats and other Real Estate properties for those community of property buyers.

Location

Perumbakkam enjoys a favorable location in all terms. Bound by OMR, GST Road, Tambaram, Medavakkam and Sholinganallur, Perumbakkam is all set to witness great progress along with these regions.

Infrastructural Progress

OMR’s IT expressway, the Metro Project, new transportation systems and other infrastructural developments tilt favorably towards the flats for sale in Perumbakkam.

Metro Project: Indiavision

Social Infrastructure

The region is today home to a number of avenues catering to the urban community. Perumbakkam has a number of premium educational institutions, several entertainment avenues like malls and best-in-class medical institutions thus creating more reasons for Real Estate growth.

Potential growth

Growth potential of Perumbakkam is quite high. Global property consultant Knight and Frank has researched that Real Estate appreciation is expected to be the highest in Medavakkam in the next five years. Perumbakkam is in the closest vicinity to Medavakkam and hence stands tremendous potential in terms of growth.

Owing to such current and potential demand, a large number of builders in Chennai are constructing landmark properties at Perumbakkam. Homes here are complete with aesthetic appeal, functional competence and best architectural standards. Today, the landscape of the region has changed tremendously. Vacant pieces of land have given way to construction of residential and commercial properties.

Finally, flats for sale in Perumbakkam are today the obvious hot properties promising exceptional ROI in the long run. These factors clearly contribute to the rise in housing demand in this region. Perumbakkam is a prime residential destination of Chennai that is home to a large variety of homes and properties. Studio style apartments, budget and economy flats, townships, opulent homes and spacious apartments are some of the kinds of properties one can choose from at Perumbakkam.

- Sumangali Homes

Builders in Chennai