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All the Rave

Perumbakkam as an area has been discussed many times, but the exact reason as to why the people and apartment builders in Chennai are flocking to buy homes here is still not clearly explained. This week we will see about those reasons which give a strategic edge to Perumbakkam over other areas.


There are many affordable flats and luxury flats in Chennai which are built to cater to different segments in the city. Perumbakkam is one area which caters to all segments of buyers. In the last few months the demand in this area has increased considerably and its proximity to OMR is the biggest reason behind the high sales. Closeness to OMR also brings about the closeness to IT firms which also increases the residential demand in areas like Perumbakkam and Medavakkam. There are many schools, colleges and hospitals coming up in this area which has also hugely attracted the builders to promote flats in Perumbakkam.


Almost all builders provide essential infrastructure within their project and as customers prefer homes located close to their workplace, it is a win-win situation. The rental advantage is also good in this area as the builders try giving rental assurance for the homes in Perumbakkam. Almost 90 per cent of the projects in this micro market cater to the affordable and mid housing segment and 5 per cent to the high-income group segment. Not only first time home buyers but also second time investors eye this due to the good rental advantage. Some people are even willing to pay a bit extra to buy houses in areas like Perumbakkam rather than in the city as the builders are providing all amenities such as a gym, swimming pool, club house, and supermarket. These amenities are no longer reckoned as a luxury but as a necessity.


If you are looking to invest in a property with good returns, rental assurances, great amenities and other infrastructures then surely Perumbakkam is the place you should be looking at.

 

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Newsletter - Feb 17