Why properties in Porur are in demand

The real estate sector is Chennai has never really seen the bad days witnessed in the northern markets of the country. The economic slowdown and high inflation did have an effect on the market, but not to the extent that it slumped. The city is considered to be one of the most liveable cities in the country and the real estate here is driven primarily by end users rather than investors. This fact has actually proved to be very beneficial to the realty sector of the city. Since the market is primarily driven by end users, this market is relatively free from speculation which has kept it relatively stable. 

Pockets of growth have been found in northern and western parts of the city. The more well established micro markets in the city which are located in the southern part of Chennai are either saturated or nearing saturation. The number of properties which are available here are also very limited and can be bought by only the affluent folks. The situation is the exact opposite in the northern and western parts of the city were the property rates are much more affordable and there is decent availability of land as well. 

Porur is a micro market which is located in the western part of the city. The area is considered to be one of the most sought after real estate destinations in the city. Multiple factors have worked in the favour of this micro market. The area enjoys great connectivity with the rest of the city. Some of the major roads in Chennai are either passing through this locality or are located in close proximity to it. Major connectors such as the Chennai Bypass Road, the Arcot Road, and National Highway 4 pass through here. The Poonamalle High Road is located in close proximity to the micro market. Apartments in Chennai which are located here tend to be popular among buyers because of the connectivity factor. 

The going rate for apartments in Chennai which are located here are priced at INR 4500 per square feet on average. An individual house for sale in Porur is priced at INR 5200 per square feet on average. There is maximum demand for 2 BHKs in this locality. The unit size which is most preferred here falls between 700 and 1200 square feet. This shows that small to medium sized flats are catching the buyers’ attention as far as this micro market is concerned. The most preferred budget range for flats here falls between INR 30 to 50 lakhs. 

Another reason why a property such as a plot or an individual house for sale in chennai is popular is because of the presence of the Information Technology sector here. There are about three IT parks in this micro market which house many well-known companies. The presence of the Ramchandra Medical College has led to the increase in demand for rental properties here. Areas which surround this micro market have also enjoyed real estate appreciation.

Top reasons to invest in properties in Pallavaram

Investing in the real estate market in Chennai has always been a safe bet. The realty sector here remains fairly untouched by speculation which is very rife in the northern markets of the Delhi National Capital Region or even Mumbai. The real estate slowdown which plagued the entire country did not give the city a skip though the market here was shielded to a certain extent from its impact. 
The areas of growth are located in the northern part of the city and along the Grand Southern Trunk Road. With the saturation of the markets in the southern and central parts of the city the focus is moving towards other parts of Chennai. 

The markets along the GST Road have been making real estate waves for some time now. The GST Road is an arterial road which is well connected to most parts of Chennai. The area has emerged as the manufacturing hub of the city and has a fair smattering of Special Economic Zones as well. Some of the markets which fall along this stretch are: Guindy, Alandur, Meenambakkam, Tirusulam, Pallavaram, Chromepet, Tambaram, Perungalathur, Vandalur, Urapakkam, Guduvancheri, Potheri and Kattangulathur. Areas such as Vandalur, Guduvancheri and Kattangulathur are quickly catching the fancy of buyers. 

Some of the more established markets in this stretch are Tambaram, Guindy, Chromepet and Pallavaram. Pallavaram is located at about 17 km from city and is a part of the Kanchipuram district. The area has been in existence for Paleolithic Age and is a place of historically significance. 

In modern times, the real estate of this micro market has been in demand. The going rate presently for apartments for sale in Pallavaram has been averaging at INR 4900 per square feet. This price bracket puts properties located in this micro market in the affordable range. The asking price for apartments for sale in Pallavaram shot up to INR 7000 per square feet on average in the third quarter of 2013. But since then the prices have fallen and have been ranging between INR 4500 and 4900 per square feet on average in the following quarters. 

The area is not only well connected to the micro markets along the GST Road, it is also well connected to the micro markets along the Old Mahabalipuram Road. This fact has contributed to the rise of real estate demand in this area as the OMR belt houses some of the most important Information Technology and Information Technology Enabled Services companies. This is one of the reasons why properties such as plots for sale in Pallavaram are popular among property seekers. 

There is maximum demand for small sized 2 BHK flats in this area. The budget range which most buyers seem to want to spend here falls between INR 30 to 40 lakhs. There is some presence of social infrastructure here. The area though not without its fair share of problems is predicted to do well once some infrastructural changes which are planned here taken shape. Hence investing in properties such as flats and apartments for sale in chennai might just fetch higher returns in the future.


Sulabha is a real estate expert and consultant from NCR. She deals with analyzing trends in the market of residential apartments in noida and commercial properties in Greater Noida