The factors fuelling residential demand in Perumbakkam.
AAt the recently held Real Estate Dialogue (RED) — a panel discussion organised by Magicbricks and CRISIL — developers pointed out that in the last seven months, Perumbakkam has witnessed a steady rise in sales in the residential sector. Emerging as the one of the fastest growing suburbs in the city, Perumbakkam’s proximity to OMR is the biggest reason behind the high sales, says VS Sridhar, Managing Director-Chennai, Cushman & Wakefield. Shushmul Maheshwari, chief executive, RNCOS, says as OMR is home to a large number of IT companies, there is always a demand for homes. “Areas like Perumbakkam and Medavakkam offer employment opportunities and the IT sector benefits residential and commercial real estate in such areas,” he says.
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