The rise of Perumbakkam - Flats in Perumbakkam

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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Real estate booms in West Chennai

Higher price appreciation attributed to variety of factors including good connectivity

A combination of factors — primarily, easy access to different modes of transport and proximity to job-generating industrial clusters — has resulted in areas in West Chennai city limits as well as pockets in the western suburbs attracting the attention of developers, including national players.
Apart from areas along Mount – Poonamallee Road – the corridor that originates from Guindy – which is going to be a multi-modal transport hub, villages tucked away from it are witnessing the construction of high rise projects. A recent study by Proptiger, a real estate advisory firm, showed that West Chennai witnessed an annual price appreciation higher than even Central Chennai.

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Source : The Hindu

Saradeuz - Flats in Perumbakkam - OMR and Sholinganallur