MGP Shriida

By: MGP in Perumbakkam

Location Advantages:. The MGP Shriida is strategically located with close proximity to schools, colleges, hospitals, shopping malls, grocery stores, restaurants, recreational centres etc. The complete address of MGP Shriida is Plot no. 2 & 3 - Near Anandammal Nagar, Sri Krishna Nagar, VGP Prabhu Nagar, Perumbakkam, Chennai, Tamil Nadu, INDIA..

Construction and Availability Status:. MGP Shriida is currently completed project. For more details, you can also go through updated photo galleries, floor plans, latest offers, street videos, construction videos, reviews and locality info for better understanding of the project. Also, It provides easy connectivity to all other major parts of the city, Chennai.

Units and interiors:. The multi-storied project offers an array of 3 BHK Villas. MGP Shriida comprises of dedicated wardrobe niches in every room, branded bathroom fittings, space efficient kitchen and a large living space. The dimensions of area included in this property vary from 1701- 1701 square feet each. The interiors are beautifully crafted with all modern and trendy fittings which give these Villas, a contemporary look.

MGP Shriida is located in Chennai and comprises of thoughtfully built Residential Villas. The project is located at a prime address in the prime location of Perumbakkam.

Builder Information:. This builder group has earned its name and fame because of timely delivery of world class Residential Villas and quality of material used according to the demands of the customers.

Comforts and Amenities:.

Perumbakkam, which used to be a small village in the outskirts of Chennai, is now turning into a major residential suburb of South Chennai. With the famous Perumbakkam Lake lying within its precincts, the locality’s residents have an excellent source of recreation amidst the periodic hustle-bustle of the locality.

Perumbakkam has also been part of several initiatives. For instance, in the year 2013, a slum clearance drive was undertaken in Perumbakkam under JnNURM’s “Basic Services for the Urban Poor” program. Slums were cleared and new resettlement areas were built, giving the locality a major facelift.

The social infrastructure in this locality is a highlight. Reputed schools and colleges like Kendriya Vidyalaya, Hiranandani Upscale School, Asan Memorial College of Arts, and credible hospitals like Global Health City, Karunya Hospital, and others, have been a huge success in making this locality self-sustaining.

Key Projects in Perumbakkam : 

Connectivity and Transit Points

One of the major plus points in favour of this locality is the easy accessibility to the IT corridors of OMR and Sholinganallur. Both these areas can be reached easily from Perumbakkam via ECR Link Road. One can even head down to Sholinganallur through Medavakkam-Sholinganallur Road. And Tambaram, a major locality in Chennai, is accessible via Velachery-Tambaram Road.

The most popular mode of public transport here are the buses, both private and State-run. The Chennai MTC buses connect Perumbakkam with other localities like Tambaram, Thiruvanmiyur, Adyar, Kovalam, Kilkattalai, T. Nagar, Pallavaram, and Thirupporur. Auto-rickshaws are quite popular, too.

For long distance travel, Velachery Railway Station is in the vicinity. And Chennai International Airport is just 15km away.

Major Landmarks

●     Perumbakkam Lake

●     Advent Church

●     Pathanjali Gardens

●     Bharathi Vidyalayaa Senior Secondary School

●     Marrybrown

Factors for Growth in the Past

The most prominent growth factor for the locality has been the emergence of IT hubs in the surrounding localities of OMR and Sholinganallur. The area quickly rose to become a potential option for the young IT crowd, spurring the residential project development. Once apartments and houses were built, they were sold at cheap prices, attracting more home buyers and kick starting the growth in the commercial sector.

Residential Market Analysis

The residential market in this locality consists mostly of multi-storey apartment buildings, followed by residential plots in Perumbakkam, with the presence of only a few independent houses. The apartment types available vary from 1-3 BHK units, and are available in the price bracket of Rs 4,600-6,400 per sq. ft.

The individual houses available are generally in 3-4 BHK configuration, falling in the price bracket of Rs 6,500-7,000 per sq. ft., while residential plots are available for Rs 3,200-3500 per sq. ft.

Major Challenges

Contamination of groundwater is a major civic challenge. At present, the water is not potable; in fact, the residents don’t even use it for washing and cleaning purposes. It is likely that the water from the lake will become unusable, if the groundwater seeps into the lake and contaminates it.

Being relatively new, Perumbakkam still has a long way to go to build up an adequate urban infrastructure. For instance, the roads need to be repaired, and then maintained well.

Factors for Growth in the Future

The future of Perumbakkam is bright. With the announcement of the ELCOT-SEZ project, investors and buyers alike are hoping for significant returns on investment; and rightfully so, because once this SEZ is active, a capital appreciation of 100 per cent can be expected.

Several IT companies have also expressed their interest in setting up offices in Perumbakkam. These developments coupled with the upcoming metro line along the GST Road will further boost the realty market of this small suburban locality.