Perumbakkaman Ideal Choice For Investors BY Thomas Andrew
About: ď ś Perumbakkam is a fast developing suburb and is located just a few kilometers from the IT corridor OMR. ď ś It is surrounded by Sholinganallur to the east, Medavakkam to the north, Chemmencheri to the south and Sithalapakkam to the west. ď ś The driving factor for constructing Perumbakkam flats and apartment is its closeness to IT corridor.
Connectivity:
Residents of this locality are mostly the people working in IT hubs. The proximity to the two IT corridors, OMR and Sholinganallur through the ECR Link Road has encouraged people to invest here. This locality is well-connected to Tambaram via the Velachery-Tambaram road and to Sholinganallur through the Medavakkam-Sholinganallur road. Perumbakkam is very close to Medavakkam, which is benefitting the area a lot. Investors, who cannot afford to purchase property in Medavakkam, are eyeing for plots and apartments in Perumbakkam. Chennai Airport is just 15 kms from this locality and the nearest rail station is Velachery. MTC buses originating from Tambaram East goes via Perumbakkam to other parts of Chennai. For the relief of commuters, a 60 feet road is proposed from Perumbakkam to Siruseri IT Park, thus boosting the cost of Perumbakkam land for sale even more.
Infrastructure: Perumbakkam Lake is the vital source of drinking water for residents and farmers of this locality. As this area is close to Medavakkam and Pallikaranai. There is no dearth of goods schools, colleges and hospitals. Upcoming schools like Hiranandani Upscale School, BVM Global, Kendriya Vidyalaya, GT Aloha Vidya Mandir, N. S. N. Matriculation Higher Secondary School, Sri Sathya Sai Institute of Educare and Sigma Matriculation School are close to this suburb. Reputed colleges like Asan Memorial College of Arts and Science and Prince Sri Venkateshwara Padmavathi Engineering College are some of the finest institutions in Chennai. When it comes to health care, one can find renowned hospitals such as Kamakshi Memorial Hospital, Global Health City, Karunya Hospital, Balaji Hospital and Balagangadhara Varma Nursing Home.
Proximity to IT corridor is witnessing opening up of various international and Indian restaurants. Some of them worth mentioning are Mary Brown, Milagu Chettinad and AlKhabeer.
Real Estate: Boom of real estate in this suburb is a boon to the people who are looking for flats in OMR stretch but cannot afford it in the neighbouring areas like Velachery and Medavakkam due to the price factor. Builders in Perumbakkam are coming up with wide range of projects to suit different type of investors. Few of the ongoing projects in Perumbakkam are Solaray Apartment by Land Marvel, Naveen Square by Naveen Builders, Srikaras by STepstone Promoters and Malles Aashira by Malles Constructions. Apartment like Malles Ashira are providing wide range of amentias like club house, baby"day care, spa and salon, swimming pool, air-conditioned gymnasium, badminton court, jogging track, among many others.
Price Trends: The average value of flats for sale in Perumbakkam is Rs. 3700 per square feet.
For the people opting houses and flats for rent have to shell out approximately Rs. 12-13 per square feet. Residential plot may cost Rs. 24,500 per square feet.
Since huge numbers of IT companies are operating here, investment here is a great opportunity, as the prices are affordable now.
Analysts say that in the last few months the locality has witnessed a rise of 8% in the property value and seeing the trend it may raise even further.
Ref:http://www.articlesnatch.com/Article/Perumbakkam-An-Ideal-Choice-for-Investors/5644028#.UluJeFu1W_0