Flats for sale in Perumbakkam offering more than just a residence

Perumbakkan is witnessing a steady rise in real estate is the nearby Rajiv Gandhi Salai, also popularly called the Old Mahabalipuram Road (OMR) or IT Corridor. The road originates from the Madhya Kailash temple and ultimately ends up merging with East Coast Road. The road’s development has been magnificent with the six lane project, service lanes and beautiful surrounding landscapes. The IT corridor is a big potential employment region and thus the employees of those companies find solace in the flats in Perumbakkam. Being situated close to the OMR, it is a popular residential locality.

OMR is home to a large number of IT companies and along with it comes the rising demand for homes. Regions such as Perumbakkam and Medavakkam offer good employment opportunities and the IT sector benefits from growth in residential and commercial real estate in such areas. The region is also witnessing a spurt in growth of social services, schools and colleges, hospitals and clinics. Developers are going on strong with aggressive development of the region due to the rise in demand. To cater to the growing demand in residential flats in the region, we see the spurt in flats in Perumbakkam.

Most developers are coming up with other services in and around the apartment buildings as most residents and office goers prefer these facilities as close as possible. The facilities can be grocery stores, medical stores, gym, etc. This meant a win-win situation for both developers and residents of the region. A major segment of the projects in this market cater to the affordable and middle housing segment; while only about five percent goes towards development for the high-income segment group. There is also a significant demand from second-time buyers for flats in Perumbakkam.

However, developers have started coming up with luxury projects in anticipation of growing demand from high income group.It's a growing trend, as buyers and investors are increasing the budget for flats outside the city. Thus luxury projects are seen to provide a vast number of nearby services such as grocery shops, medicine shops, swimming pool, club house, gym, supermarket, washing services, etc. These are increasing the value of real estate and flats in the region. Rental cost of flats for sale in Perumbakkam ranges from Rs. 10000 to even 100000 depending on the value added services.

The flats are highly favoured and recommended while the prices are stable and reasonable considering the location. Although the region still lacks from certain infrastructural facilities such as sewage treatment facilities, the location of the region and its proximity to the IT corridor will help develop all those infrastructures very soon. This anticipation is increasing the demand and value of real estate in the region. It is expected to see better roads, flyovers, public transportation facilities, water lines, etc. Commercial development will also follow the spurt in the demand for flats for sale in Perumbakkam.

Vinita Shah is a property developer in Chennai that loves to travel and explore various places. Also found of real estate, She is currently at Chennai looking for Apartments for Sale in Chennai.