Sriperumbudur in Chennai: A growing real estate destination
Chennai- Located at south-west of the city of Chennai, Sriperumbudur is primarily an industrial area. The area is witnessing huge investments due to infrastructure growth, proximity to Chennai port, establishment of STPIs and SEZs and availability of good manpower.
Industrial development
Companies which have turned this Chennai suburban town into a large scale industrial hub are Hyundai, Saint-Gobain Nokia, Ford, Hindustan Motors, Mitsubishi, BMW, Nissan etc. The corridor often witnesses news for some industrial projects. Companies like Sanmina-SCI, Flextronics, Foxconn, Jabil, Dell and Samsung have also invested in Sriperumbudur.
Location advantages and connectivity
Sriperumbudur is located 40 km from the capital city. It is strategically positioned on Chennai-Bangalore highway and offers all facilities and good connectivity. It was once an area that lacked connectivity, but now rapid industrialization, advanced connectivity and large-scale real estate developments have eliminated commuting troubles.
It connects to the rest of the city through Sriperumbudur-Thiruvallur-Redhills Road, NH4 and Tambaram-Mudichur- Sriperumbudur Road. Nearest Railway station Vandaloor Railway Station (15 km) while the city is getting second airport in Sripembudur. The greenfield Airport would come up on 4,800 acres of land and is expected to comepleted in 2016-17.
Pubilc transport
Popular modes of transport are taxi and bus. Nearest bus stand is Sriperumbudur bus stand.
Social Infrastructure
Nearby reputed schools are C.S.I. High School, Cambridge Matriculation School, St. Joseph’s Residential School, St. Annes High School etc. Nearest Malls are Chandra Metro mall (28 Km), Skywalk (34 km), Ramee Mall (36 km) etc.
Real Estate
The area has gained importance due to well developed civic infrastructure and good connectivity. The industrial and commercial activities gave rise to real estate development in the region. The residential demand in Sriperumbudur is picking pace and is expected to rise with the proposed Airport.
The industrial corridor between Sriperumbudur and Oragadam is reporting development of residential and commercial projects. The region houses self sufficient gated communites, integrated townships. The region also features international schools and educational institutions.
It houses more than 100 residential projects offering plots, apartments and villas. Some of the latest projects in Sriperumbudur are Spectrum Enclave, Marg Brindavan, Spectrum Villa, Casa Grande Futura, Mahidhara Central, Le Chalet etc.
Gaint developers like My Assets Developers, Propshell Business Solutions Pvt Ltd, ETA Star Developers, Amarprakash Developers Private Limited etc are investing in the area. Developers are now also offering numerous amenities like car parking , 24×7 security, water storage, rain water harvesting and vastu compliant structures.
Price Trend
As per commonfloor data, the price per sq f. was at Rs 2564 in Oct- Dec 2012 quarter and then price appreciated to Rs 2650 in the next quarter of Jan-Mar 2013.
The area offer plots in plenty in a price band of Rs 2 lakh to Rs 19 lakh plus. Other residential options include multi-storey apartments and villas with capital value of Rs 15-63 lakh and Rs 18 -Rs 74 lakh respectively. The average rental value varies between Rs 9000 to Rs 15500 per month. In past two months, the area has reported appreciation in both capital and rental values.
The real estate market of Sriperumbudur is already witnessing growth with the proposed Airport adding more value to it. It is estimated that property prices will shoot in coming quarters with significant demand making it an attractive investment option.
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