Perumbakkam property market: An overview

[] Perumbakkam, located very close to the industrial zones and IT hubs, is one of the rapidly-developing areas in Chennai. The area has good civic amenities and is very well-connected to other parts of the city

Perumbakkam is a premier residential area located in the southern suburbs of Chennai. Nearby Perumbakkam localities include many famous areas of the city such as Sholinganallur, Medavakkam, Sithalapakkam, Chemmencheri, etc. A variety of projects are available in the area and range from affordable to luxurious. There are a lot of reputed builders like the Embassy Group, Dugar Group and Casa Grande Group, who are working on their different projects in Perumbakkam. Some of the premier projects in Perumbakkam include Embassy Residency, Nahar Foundations Sugam, Haddy Homes Harmony, etc.

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Sholinganallur which is one of the nearby Perumbakkam localities is one of the IT hubs of Chennai. Many IT majors like Wipro, Cognizant, Tech Mahindra, HCL Technologies, etc., have their office located in the area. As a result, there has been a surge in the demand for residential apartments in Perumbakkam. Although the prices of flats in Perumbakkam are going up at a rapid pace, still, affordable housing to suit the needs of the mid and the junior-level executives of the various companies, can be found here.

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Perumbakkam has been recently brought under the purview of the City Corporation of Chennai and the plans for a number of infrastructure projects have been drawn up. The civic amenities have also improved here. The industrial and IT sectors’ growth, have led to the development of the retail and hospitality sectors, as well.

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Connectivity with nearby Perumbakkam localities

  • There are a few major roads which run through the area, i.e., the East Coast Road, Old Mahabalipuram Road, Velachery-Tambaram Road and Rajiv Gandhi Salai and Kalaingar Karunanidhi Salai.
  • The area has an extensive bus service and the Adyar Bus Stand, Tambaram Bus Stand and Adambakkam Bus Stand lie in close vicinity.
  • There are railway stations at Tambaram and Guindy which are approximately 13 kilometres away from Perumbakkam.
  • The Guindy Metro Station and St Thomas Mount Metro Station also lie in close vicinity.
  • The international airport is nearby Perumbakkam too.

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Employment hubs near Perumbakkam

  • The TEK Meadows and the TECCI Park are approximately 5 kilometres away.
  • Bahwan Cybertek IT Park, Pacifica Tech Park and Alpha City SSPDL are located approximately 8-9 kilometres from the area.
  • ASV Suntech Park and the Prince Info City are also approximately 7 kilometres away.

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Schools in Perumbakkam and other social amenities

Perumbakkam offers very good social infrastructure to its residents. Some of the reputed schools in Perumbakkam include the Modern Senior Secondary School, Chellammal Vidyalaya Senior Secondary School, Abacus Montessori School, etc. Some of the leading hospitals in Perumbakkam include the Global Hospital, Asian Hospital, BM Hospital, etc. The shopping needs of the residents are catered by malls in Perumbakkam such as the Mayajaal Multiplex, Dlf Mall, Phoenix Market City, etc.

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  • Price appreciation—Around 24% in the last one year.
  • Current property rates—Rs 3,400-Rs 5,000 per sq ft.

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Reasons to invest in Perumbakkam

Considering the price trends in Perumbakkam and the rising demand, the locality is touted to become a good investment region in future. There are chances of good appreciation of property rates with a number of projects being developed here. Moreover, the area is located very close to the industrial zones of Chennai and IT/ITeS hub. Thus, the demand for property here will only move northward. What more? The Chennai City Corporation has recently taken over the administration of the area and so, the scope of development of infrastructure facilities is also good here. Considering all these factors, Perumbakkam can be an excellent place for investment.

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Category: Lifestyle

Debora Berti

Università degli Studi di Firenze, IT

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