Chennai has been witnessing a rapid development in the past, the contributing factors being infrastructural and real estate development. This exponential growth in the recent past and has attracted many immigrants from across the country for educational and career opportunities.
A large number of immigrants have impacted the real estate business of Chennai majorly. This has surprisingly benefited not only the heart of the city but has extended its impact to the Suburbs.
Areas such as Porur has proven to be a good investment for real estate developers considering the tectonic shift in the SEZ’s. Porur is located 18KMs away from Chennai; a part of the Thiruvallur district. Porur falls under the Southern part of the city; which was previously predominantly a residential area. The sudden change in landscape has made of the most developed commercial zone, which hosts large-scale IT companies in its area.
Porur enjoyed uninterrupted development despite the recent floods and the cyclone. There was minimal to no damage done to the real estate business in this area. Porur continues to flourish and emerge as the new hub for IT sector.
The emergence of three new SEZ’s namely TCG IT Park, Jayanth Tech IT Park and DLF IT Park has now made Porur the new real estate destination. Working professionals look forward to investing in houses that are in closer proximity to their workplaces. Making Porur an ideal destination to start their new lives.
Chennai continues to be an expensive city to buy or rent a house in. The emergence of Porur as the new IT hub it has opened doors to real estate players to plan out affordable residential projects.
Owning a house in Porur comes at an affordable rate as the government is concentrating on making Porur a flourished IT hub similar to OMR. There are other influencing factors such as well-connected roadways and railways to the city, adequate amenities and schools and colleges at closer proximity are a few to mention.
This area is a gold mine for people looking to invest in real estate as looking at its present scenario it has scope for great ROI in mere future.
Let’s look at the promising features that promote Porur as an emerging affordable real estate destination.
Both public and private sector have taken initiative to improve the quality of life existing Porur citizens while inviting several others to benefit from the amenities.
With Porur flyover coming to life, many traffic woes will be put to rest. This 475-meter long bridge is crucial for the development of this area as it acts as a connecting link between Porur and Ponamallee high road. Apart from road connectivity, Porur is proposed to be connected by a monorail project that has commenced its construction. Making this IT corridor a sought after destination.
Porur marks as one of the best properties in the peripherals of the city. It is the campus to multiple esteemed colleges such as Ramachandra Medical College and Meenakshi Amma Dental College that attracts students from across the country. A slew of housing complexes can be spotted in close proximity to these colleges indicating an affordable abode for the students.
Porur also enjoys the status of being a newly found prime area that offers unpolluted climate, ample ground water, and uncongested roads. All this while offering well developed social and residential spaces.
Porur has evolved today as a sweet spot for investment. This area houses a majority of working class people enjoying amenities at their disposal. There is a range of projects that suit every budget typically ranging from 20-40 lakhs to high-end projects worth 1Cr. With investments on a rise in this area, it is still one of the most affordable residential areas that offers a plethora of benefits.