CHENNAI: If you are looking to buy property in the budget range of Rs 60-70 lakh, Perungudi can be the end of your search as the locality offers a number of housing options. With factors like well-built social infrastructure, proximity to IT companies and seamless connectivity, Perungudi comes across as an ideal destination for an end-user. Here’s why:
Strategically located on the Old Mahabalipuram Road (OMR), Perungudi enjoys smooth connectivity to the major IT hubs of the city. While Thiruvanmiyur and Velachery are just 4-km away, Sholinganallur can be reached in fifteen minutes via the OMR.
“The connectivity through the Suburban Railway Network and the Metropolitan Transport Corporation (MTC) is acting like a catalyst and attracting investment in the area. These transport modes connect Perungudi to the nearby commercial destinations including places such as Saidapet and Tambaram,” informs Abdul Khader of AK Real Estate.
TR Hari of Bhoomi Estates says, “In addition to being preferred for its proximity to IT locations, Perungudi is in demand due to its affordable values when compared to the neighbouring Thiruvanmiyur.” Currently, an apartment of 1170 sq ft in Thiruvanmayur is available in the price band of Rs 1.20-2 crore. However, an apartment of the same size in Perungudi is easily available within a range of Rs 60-70 lakh.
Thus, the mid-level IT professionals working in Thiruvanmiyur and Velachery prefer Perungudi as a residential option since it suits their budget.
The robust social and physical infrastructure has also helped Perungudi’s real estate market to grow. The locality boasts of all amenities required by an end-user such as hospitals, schools, restaurants and entertainment zones. The locality continues to rule the roost for rental accommodation as well. At present, a 2BHK is available for Rs 13,500-15,000 and a 3BHK for Rs 15,000-20,000 per month.
Addressing the only sore point in the locality, the Chennai Corporation has recently announced the shifting of the accumulated mounds of waste from Perungudi to the Pallikaranai Marsh.
According to the MagicBricks.com data, single floor apartments are available in larger numbers in comparison to multi-storey apartments. Giving his insights on this, Pandu Rangan, a real estate consultant says, “As compared to multi-storey apartments, the cost of maintenance for builder floors is less. While the maintenance charges for builder floors are just Rs 500 per month, for multi-storey apartments one has to easily shell out Rs 1,500 and above per month.”
Due to these factors, Perungudi has witnessed an increase in supply of residential units. There are many projects that are under construction and will be ready-for-possession in the next two years.