A rapidly developing suburb of Chennai, Perumbakkam is known for its close proximity to the IT corridors in OMR and Sholinganallur. It is bordered by Medavakkam in the North, Semmencherry in the South, Sholinganallur to the East and Sithalapakkam to the West. If there had been no IT companies near this locality, then for sure the real estate here would have not had so much of demand that it has now. To put it in other words, the real estate in Perumbakkam is mainly driven by the IT corridors near it and by the professional population working in this IT hub. Several new residential projects are popping up across Peumbakkam with a considerable uptick in demand. While many of the professional population have already flocked the area to buy homes, there are still a few who are in dilemma whether they should invest in Perumbakkam or not. Here are some of the reasons that will make your investment in Perumbakkam worthy.
Proximity to IT corridors
Located a few kilometres away from Sholinganallur and OMR, Perumbakkam makes an ideal living place for all those who have their workplace in this IT corridor. With most of the IT companies having this campus either in Sholinganallur or OMR, the professional people working here is more than 2 lakhs. With an availability of large parcels of land, Perumbakkam can easily cater to all the real estate requirements of people working in the IT corridors. No matter how late you wake up, having a home at Perumbakkam, you can reach your workplace on time as it is very close.
Usually when an area is near to IT corridors, its real estate value is usually very high and the property prices are also bound to increase. But this is not a case with Perumbakkam as it offers various residential projects at affordable prices. It is closely located to Medavakkam were the capital values of the homes have reached more than Rs. 4500. People who cannot afford to buy a flat in Chennai Medavakkam, are shifting their preferences toward Perumbakkam due to affordable housing projects. The capital values of flats in Perumbakkam ranges from Rs. 4500 for apartments near the main road and Rs. 3800 to Rs. 4200 for apartments that are little away from the main road.
It connects to Sholinganallur an OMR through the ECR Link road. It is also connected to Tambaram via Velachery – Tambaram Road. You have frequent public MTC buses and share autos travelling through this location. You will also find autos here any time.
There are certain factors that still keep people from investing in Perumbakkam such as traffic congestion, lack of good ground water, and lack of proper entertainment and shopping centres. But to overcome these disadvantages, it offers affordable apartments with all amenities and good return of interest and that too in a serene and green environment.
There are several new residential projects in Perumbakkam from reputed builders such as Casa Grande Cherry Pic, KG Good Fortune, Radiance Mercury, Urban Tree Oxygen, Plaza Pristine Acres Phase 2, StepStones Akshara, Casa Grande Avalon, Embassy Residency and much more.