With the growing property price within the city limits pushing individuals to hunt for better economical alternatives – peripherals and suburbs are cited to be ideal destinations. And one such suburban locality that is bustling with a lot of construction activity is Porur. Located on the south western side of Chennai city, this neighbourhood is cited to be one of the fastest growing suburban localities thanks to the developing infrastructure and seamless connectivity. The presence of many small and medium scale industries along with many SEZs (Special Economic Zones) have lured many potential home buyers to invest in Porur’s realty market. Reputed local and national real estate developers are now cashing on the growing demand and are creating a number of flats in Porur.
Being a major transit point, the vicinity enjoys great connectivity. Arterial roads like Arcot Road and Mount Poonamallee Road help ease access to areas like Nungambakkam, Guindy and Vadapalani. A number of private and state owned buses that lead to Bangalore pass through the Porur Junction. The presence of many bus stations in sub localities like Lakshmi Nagar and Shakti Nagar has converted these sleepy neighbourhoods into catchment areas that is home to a number of residential projects. Porur properties for sale are now being purchased by real estate developers in large parcels so they could build extraordinary living places.
Apart from localites, the realty market of this neighbourhood is driven by employees working in the nearby SEZs and other IT parks. Close proximity to IT hubs like OMR (Old Mahabalipuram Road) has also attracted many working professionals to invest in Porur. With the real estate market scenario catering to the working professionals, builders are now creating a number of 1 bhk flats in Chennai. Smaller homes that spread over 600 square feet are estimated to hover anywhere between Rs 15 lakhs and 25 lakhs. The existence of many educational institutions and reputed healthcare units has attracted many families and retired personnel. To ensure the cosmopolitan crowd is entertained, the builders are now walking that extra mile and are offering world class facilities.
Despite the area being a hit amongst many working professionals thanks to the varied residential options, home buyers are now postponing their home buying decision due to the multistorey building that had collapsed recently. With the neighbourhood’s soil not being too suitable for high rise apartments, property seekers are now moving towards investing in residential lands and villas. In the past tow years, capital values of residential plots have appreciated over 23%. According to the current market trends, Porur properties for sale are estimated to fall under the price band of Rs 30,000 and Rs 37,500 per square yard.
The developing industrial and commercial belt is luring a number of real estate developers to enter the market. And with the vicinity providing an array of residential options the real estate sector of Porur is all set to flourish. The developing infrastructure and the presence of standard social environment has made this locality an ideal destination for the cosmopolitan crowd.
Sulabha Kulkarni is a freelance writer and an avid blogger, following the real estate sector and apartments in Greater Noida closely for many years. Her areas of expertise are finance and real estate sector in India.