Sriperumbudur has been in the news lately. The property market of this locality was already doing good business and now with the Central government pushing for the Rs 20,000 crore airport at Sriperumbudur, it has been estimated that the real estate of chennai domain will soon face significant demand.
Located on the south-west part of Chennai, Sriperumbudur owes its residential growth to the well developed civic infrastructure and good connectivity. Developers investing in the area are Assets Developers, Propshell Business Solutions Pvt Ltd, ETA Star Developers, True Value Homes and Amarprakash Developers Private Limited, among others. Residential plots are available in plenty. The capital value of these range between Rs 2-18 lakh plus. The other residential options include multi-storey apartments and villas. The capital value of the first option is between Rs 15-63 lakh while the capital value of the latter is between Rs 18-73 lakh. The average rental value varies between Rs 9,000 to Rs 15,000 per month.
The demand for residences in Sriperumbudur is slowly picking up. Both capital and rental values have seen appreciation in the last couple of months. Close proximity to the IT Park/SEZ, commercial shops, hotel business centres, industrial buildings, commercial showrooms and hotel sites have led to the increase in demand. Initially the locals preferred to build individual houses only, however, with the development of employment and recreation opportunities, there has been an influx of people from outside the state who opt for apartments instead.
Many upcoming projects are offering a host of amenities such as 24×7 security, water storage, rain water harvesting, car parking and vastu compliant structures.
Sriperumbudur is primarily an industrial area. Big industry names such as Samsung, Dell, Saint-Gobain, Hyundai, Nokia, Hindustan Motors, Ford, Nissan and BMW have already set their base in this area.
Important roads connecting Sriperumbudur to the rest of Chennai are Singaperumalkoil- Sriperumbudur-Thiruvallur-Redhills Road, NH4 and Tambaram-Mudichur- Sriperumbudur Road. Popular modes of transport include buses and taxis.
Sriperumbudur is growing at a fast rate due to the emergence of multi-national companies in the vicinity. Since, this area is expected to keep growing the values of properties in chennai are also expected to appreciate, making it an attractive investment.”
Courtesy :Real Estate News and Trends in India
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