Looking for a property for sale in Chennai? Try Perambur

North Chennai often viewed as an under developed part of the city has come a long in terms of real estate. The area is now becoming popular among home buyers as the rates for properties here are still quite reasonable. With improvements being made in infrastructure and easy availability of properties, north Chennai is becoming one of the fastest growing real estate destinations in the city.

Perambur is a locality situated in the northern part of the city. It is surrounded by areas such as Kodungaiyur, Moolakadai, and Vyasarpadi. It also lies very close to Anna Nagar. The area enjoys good connectivity and has three railway stations. The social infrastructure in this locality has also improved vastly. All these factors have increase the demand for a property for sale in Chennai located in this micro market. 2 BHK flats in Perambur are the most sought after apartment configuration as far as property seekers are concerned. This is followed by the 1 and 3 BHKs.

The most popular unit size for apartments here falls between 501 and 750 square feet. This is followed by the 751 and 1000 sqr ft range and the less than 500 square feet range. Home buyers are willing to spend anywhere between INR 30 to 40 lakhs on flats here. This is followed by the INR 20 to 30 lakhs range and the INR 10 to 20 lakhs range. Per square feet buyers are willing to spend anywhere between INR 4501 and 5000 on properties like apartments. This is followed by the INR 4001 to 4500 per sqr ft range and the INR 3001 to 3500 per square feet range.

Properties in this area are still in the affordable category. Villas in Perambur were priced at INR 7800 per square feet on average in the first quarter of 2014. This was a drop of about 5% when compared to the previous quarter when the prices stood at INR 8200 per sq on average. In the second quarter of 2013 the going rate for villas in Perambur stood at INR 9300 per square feet on average. This was a marginal increase of 1% in prices when compared to the previous quarter. In the next quarter the going rate here went up further by 8% and stood at INR 10000 per sqr ft on average.

Apartments located in this micro market were priced at INR 5400 per square feet on average in the first quarter of 2014. This was a drop of about 12% when compared to the previous quarter when the prices stood at INR 6100 per square feet on average. In the second quarter of 2013 the going rate for flats in this micro market stood at INR 6900 per square feet on average. This was an increase of 11% in prices when compared to the previous quarter. In the next quarter the going rate here dropped by 12% and stood at INR 6000 per square feet on average.

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