Located close to the huge IT hubs in the city, Perumbakkam is a rapidly-growing suburb of Chennai. It is well connected to Chennai’s other parts and has been equipped with all essential civic amenities. This well-organized and properly spread out neighbourhood is one of the fast-developing areas in the city. The steady upsurge in the real estate market and the increasing demand for residential properties have given rise to many attractive residential apartments in Perumbakkam.
Why is Demand for Residential Properties in Perumbakkam Increasing?
The development of the IT corridor, increasing employment opportunities in the vicinity, and fast infrastructure development in the neighbourhood are the major driving factors for the rise of Perumbakkam. Perumbakkam is becoming a trend-setting location in the city when compact and affordable housing is concerned. With ample land available for construction, builders and developers are drawn to this area, making available several affordable apartments for sale in Perumbakkam.
Ready to Occupy Apartments in Perumbakkam
With proximity to the key IT hubs of Sholinganallur and Siruseri, Perumbakkam is fast becoming the premier residential neighbourhood for the modern generation, especially the techies. This southern suburb of Chennai city is situated close to popular areas such as Medavakkam, Sholinganallur, and Chemmancherri.
The ready to occupy apartments in Perumbakkam make this neighbourhood one of the highly-demanded localities today. Apartments are available in a wide range of financial value, starting from affordable housing to luxury apartments. In a suburb like Perumbakkam, 1BHK and 2BHK apartments are mostly preferred by families to live while the 3BHK apartments are preferred by the investors.
Key Contributors to the Rapid Development of Perumbakkam
The following are the chief factors that contribute to the rise in the investment on residential real estate in Perumbakkam:
1. Infrastructure and connectivity
Perumbakkam is surrounded by many residential localities like Sholinganallur in the East (6Km), Chemmencheri in the South (8Km), Medavakkam in the North (5Km) and Sithalapakkam in the West (7Km). Sholinganallur intersects with the OMR road which connects to various parts of Chennai such as Karapakkam, Velachery & Perungudi. Perumbakkam is also connected to Tambaram through the Velachery- Tambaram road. With existing good roads, water lines, and the metro rail project on the cards, this area rightfully boasts of an excellent infrastructure and connectivity. This is one major factor that propels sales of apartments in Perumbakkam.
2. The future potential of the real estate market
Several key suburbs, especially those located along the OMR, have been witnessing high demand for housing properties, specifically the residential apartments in Perumbakkam. The average price of 2BHK apartments in Perumbakkam is around 5,500₹ per sq.ft which was just around 3000₹ per sq.ft five years back. This data shows how quickly the real estate price is increasing in the Perumbakkam location. As a part of the SEZ expansion process & with the entry of many information technologies and automobile design companies in SEZ, we can expect more property rise in Perumbakkam in the coming years.
3. Return on investment
Offering a wide range of home options for investment to buyers, apartments are considered as one of the safest and best bets when it comes to return on investment. Good rental and resale value can be expected from apartments in Perumbakkam because of the amenities they possess such as swimming pool, supermarket, badminton court, skating rink, business centres, and international standard gymnasiums.
4. Social facilities abound
One of the main reasons for the increasing demand for 2BHK apartments for sale in Perumbakkam is that Perumbakkam is home to several acclaimed educational institutions and healthcare facilities. Some of the schools in and around Perumbakkam are Sri Chaitanya school (2.6 Km from Perumbakkam), st.john’s public school (1.8km from Perumbakkam), and NPS International School (2.8 Km from Perumbakkam).
When it comes to Hospitals, we can find several clinics in and around Perumbakkam. But, especially Gleneagles Global Health City, one of the biggest multispeciality hospitals in Chennai is located near Perumbakkam, within 3 Km radius. This hospital can accommodate more than 1000 patients, and it is one of the very few hospitals in Chennai that does heart transplants.
5. Entertainment zones
Perumbakkam is dotted with entertainment zones like movie theatres and weekend destinations. Arvind theatre and AGS theatre are located close to Perumbakkam, within a half an hour drive. One of the most preferred weekend locations of Chennaiates, the ECR is in close distance to Perumbakkam. You can find beaches, resorts, and parks such as Crocodile Park, Muttukadu, Kovalam beach, Green meadows resort, Grande bay resort and Mangrove resort in ECR. All the above-mentioned spots are just less than an hour’s drive from Perumbakkam.
The qualities of Perumbakkam that heightens the demand for affordable apartments in Perumbakkam
Recently having been brought under the limits of the corporation of Chennai, there are quite a few infrastructure projects on the anvil-like metro station, SEZ expansion in and around Perumbakkam. Civic amenities have been improving and the retail and hospitality sectors are witnessing considerable growth in recent years. All these bode well for the overall development of this neighbourhood, making 2BHK apartments in Perumbakkam an affordable and sound financial investment option for the future.
Affordable pricing, convenient and pleasant environment and good connectivity ensure that investing in Perumbakkam enables the user to achieve peaceful living and great financial returns. Apartments are available in a variety of décor and under different budgets that suit the specific financial capacities of the population. Budget apartments like 1 and 2 BHK apartments in Perumbakkam, is naturally a sensible decision to invest.