Sriperumbudur

 

Famous for being the birthplace of Sri Ramanuja, a significant Hindu Vaishnava saint and philosopher, Sriperumbudur is located around 40 km from heart of Chennai. The region is infamous for the assassination of India’s former and young Prime Minister Rajiv Gandhi. It’s known for being an industrial town, progressing rapidly in industrialisation since the year 2001. Bhoodhapuri is the former name of Sriperumbudur..

 

Once a sleepy Panchayat town, Sriperumbudur is a name to reckon with for its industries. The result of its industrialisation led to the emergence of various multinational companies like BMW, Dell, Ford, Nokia, Nissan, Mitsubishi, Saint-Gobain, Samsung, and Hindustan Motors.

 

The place is also home to various schools, colleges, temples, hospitals, and software companies. Vallakottai Murugan temple is situated 9 km from Sriperumbudur, which is famous for possessing the tallest statue of Lord Murugan in India.

 

In addition, Madras Motor Sports Club is located near Sriperumbudur, which is responsible for organising various racing events like South India Rally and All India Motor Race Meet. This club was licensed for Formula Three races for cars and all types of races for motorcycles. Some of the schools located in the city are Lalaji Memorial Omega International School and Cambridge International School.

 

Key Projects in Sriperumbudur : 

Mother Theresa Nagar Phase II

 

Connectivity and Transit Points

 

Chennai International Airport is at a distance of about 36 km from here while the city central railway station is about 45 km away from Sriperumbudur. The place is about 25 km away from Tambaram.

 

It is very easy to find buses to Sriperumbudur from various cities and towns in and around the city. This is especially true if one has to travel from Chennai to Sriperumbudur.

 

There are town buses you can find inside the city for travel between various areas and to nearby villages. But the preferred option by most is hiring auto-rickshaws.

 

Major Landmarks

 

•          Sri Adiksava Perumal Temple
•          Vallakottai Murugan Temple
•          Rajiv Gandhi Memorial
•          Madras Motor Sports Club
•          Lalaji Memorial Omega International School
•          Hyundai manufacturing plant

 

Factors for Growth in the Past

 

There are multiple factors that contributed to the development of Sriperumbudur in the past. Some of the prime reasons for its past development are its proximity to Chennai International Airport, its strategic location on the Chennai-Bangalore highway, its infrastructure development, its availability of good workforce, and the establishment of software tech parks.

 

Since the year 2001, the region is facing numerous progressive changes. One of the earliest industrial investments by a world-class company came from Hyundai in the year 1999. After that, various leading, world-class companies have established their manufacturing units in Sriperumbudur, triggering the growth of this place.

 

During the year 2008, Sriperumbudur became a special economic zone, which attracted investments over US$2 billion by various companies in the electronic and automotive sectors. A new airport is also planned for the city.

 

Residential & Commercial Market

 

Residential Market Trends

 

Residential market is on an upswing in Sriperumbudur. There are various factors that are attracting investors into the residential market here. Majority of residential projects include layouts and plots, which covers about 73 per cent followed by apartments at about 17 per cent of the residential properties in Sriperumbudur. Individual houses and villas occupy the rest.

 

According to the Jan-Mar quarter of 2014, the average property price is Rs 2,800 per sq. ft. There are about 17 per cent of ongoing residential property constructions in the city.

 

Commercial Market Trends

 

Since the development of various industries and establishment of special economic zones and software technology parks, the commercial market of Sriperumbudur has risen. The average property rate of offices in Sriperumbudur is around Rs 3,800 per sq. ft. and for commercial plots it is Rs 950 per sq. ft.

 

Major Challenges

 

One of the major problems in Sriperumbudur is that both railway station and the airport are located at a long distance. This causes some discomfort for travelers wanting to travel by train or flight to different parts of the country. In addition, the area is still growing and various facilities found in the heart of Chennai are still lacking here. Travel to the center of Chennai is around 60 km, which can get tedious.

 

Factors for Growth in the Future

 

Real estate will be one of the major factors of development for the city in future. In the past decade, the city faced a huge economic growth through industrialisation, which led to the development in infrastructure and workforce. Since the industrialisation of the city has reached stability, the residential market will be on the rise in the future. The area between Sriperumbudur and Oragadam is witnessing a rapid growth of apartments from renowned developers. The real estate prices are estimated to appreciate to a huge number in the future, making it a viable option for the present investment in the locality.