Porur: Emerging real estate destination
Chennai- Porur is a popular and is one of the fastest growing suburbs of Chennai. It is emerging as a major realty destination along western region. It was included in the Chennai Corporation in 2011.
Good connectivity
Porur offers good connectivity to Valsaravakkam and Virgumvakkam through 200 ft wide road. It is in close proximity to Guindy and Poonamalee through Mount-Poonamallee Road. The Arcot Road connecting Nungambakkam, Mount-Poonamallee Road and Kundrathur road meet at an important traversing point called as Porur junction. The suburb is also well connected to other parts of the city and other neighboring suburbs.
SEZ and IT parks
Porur will soon become a major IT hub of Chennai next to the OMR. It will house three IT SEZs (Special Economic Zones) namely- DLF IT Park, TCG IT park and Jayanth tech park. There would be around 1,00,000 employees working in the three IT SEZs.
Currently, DLF IT park houses companies like IBM, Logica, Zoho, Mphasis, iGATE, Syntel, Petrofac, Cognizant,Computer Sciences Corporation, etc. TCG IT park has been taken up by HP which would generate 2000 jobs. Jayanth tech park has been taken up by HTML Global Solutions.
Residential development
With three upcoming IT parks and good connectivity, Porur has become one of the most preferred investment destination. Many reputed builders are launching commercial and residential projects in this region.
Many eminent names in the realty constructions are focusing on their latest and upcoming projects in Porur like Sobha serene, VGN Krona Phase II, Sidhart Upscale, Sidharth Canopy, Sidharth Rajgiri, VGN Blooming Gardens, Pavans Enclave, Sreenivas Kudli Apartments, Sri Vallii Foundation Apartments, Ashok Sri Malolan etc.
Property prices
In last twelve months, the property prices in Porur have witnessed an appreciation of up to 15 percent to 20 percent. Properties in the micromarket are available in the price range of Rs 4500 per sq ft to Rs 6000 per sq ft. While rental values for 2 bhk apartments vary between Rs 8000 to Rs 10000 per month. The above capital and rental value differs according to the builder, location and specifications.
Porur flyover
In order to ease traffic flow in Porur, Highways department decided to construct a flyover at the junction of Mount Poonamallee Road and Arcot Salai. In June 2012, after completion of 20 percent of work, it was put on hold due to delay in shifting of the water mains from the Chembarambakkam lake that run beneath the road’s surface. The construction is likely to resume in October 2013.
Experts opine that the suburb will gain more momentum in next quarter. Property prices is expected to grow with more launches.
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