Perungalathur

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Average Buy Price 4,650 /sq ft Properties for Sale
Average Rent for 2 BHK 8,480 /month Properties for Rent

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About Perungalathur

 

Perungalathur, situated in the south-western part of Chennai, is located on the NH-45, between the areas of Tambaram and Vandalur. The demand for real estate in this locality is inching towards a new high, thanks to smooth connectivity, well-developed infrastructure, and unbridled industrial growth.

 

The erstwhile agricultural land is fast yielding space to the blooming construction industry, and this area will very soon transform into a concrete jungle, with several developers setting up residential projects here. Of these, the most prominent are SSM Builders, Shri Lakshmi Builders, Devi Builders, Jain Housing and Construction Ltd., and Shri Raghavendra Foundation Private Ltd. This has significantly fuelled the housing demand among home-seekers.

 

Perungalathur serves as a green lung to the otherwise polluted metropolitan that is Chennai city. It is a quiet and peaceful locality, complete with banana, coconut, palm, and neem trees. The area houses two lakes, adding to the tranquil atmosphere. Vandalur Hill lies to the south-east of this area, and provides a picturesque view to residents and passers-by alike.

 

This locality has a stable and well-established social infrastructure, with many schools, colleges, hospitals, and banks dotting the area. Perungalathur has Government Higher Secondary School within its vicinity, along with schools like St. John’s, Ebenezer Matriculation School, and Srimathi Sundaravalli Memorial School (SSM). Some of Chennai’s most renowned colleges are located nearby, namely, Madras Christian College (MCC), Crescent Engineering College, and SRM University.

 

With respect to medical care, there are a number of hospitals, both government and private, in the neighbourhood. Perungalathur houses a Primary Health Centre (PHC), along with a couple of private nursing homes and clinics.

 

Connectivity and Transit Points

 

The budding suburb of Perungalathur is blessed with an advantageous location and excellent accessibility. This is further propelled by an efficient transit system, which has increased this locality’s connectivity to prime areas in Chennai.

 

The important Grand Southern Trunk (GST) Road, also known as NH-45, runs through this suburb, connecting it to important districts in Tamil Nadu, such as Dindigul, Theni, and Trichy, as well as the neighbouring localities of Tambaram and Vandalur.

 

The Perungalathur bus stop sees local MTC buses plying from the area to most parts of the city. This bus stop is the hub for most of the tourist bus operators that travel intra-state and inter-state. All MTC buses heading towards Vandalur pass through Perungalathur.

 

Chennai’s Central Railway Station lies approximately 40km away. Residents, however, need not worry about travelling such a great distance to catch a train. Perungalathur houses its own railway station, and many major trains either start from, or halt, here.

 

Chennai International Airport is located 14km away. Other common forms of public transportation include auto-rickshaws and share-autos, which ply locally. Taxi (both AC and Non-AC) services are available in the area, taking commuters to different parts of the city.

 

Major Landmarks

 

●       Perungalathur Lake

●       Vedanta Desika Srinivasa Perumal Temple

●       Lakshmi Narayana Temple

●       Madras Christian College (MCC)

●       The Pentecostal Mission

●       Srinivasa Perumal Temple

●       CSI Church

●       Infant Jesus Shrine

●       Sai Baba Temple

 

Factors for Growth in the Past

 

Perungalathur was reclaimed by Chennai Corporation, and was transformed from an agricultural tract to a thriving neighbourhood. Its proximity to NH-45, as well as the commercially important areas of Velachery, Thiruvanmiyur, and the OMR, have acted as a catalyst to its growth.

 

Perungalathur used to house the Standard Motors factory, which was famous for producing India’s first luxury car, the Rover. During that period, the first branch of Indian Overseas Bank was established for disbursement of salaries to the factory’s employees. This led to monetary upliftment, and thus the residents’ renewed spending capacity fuelled further development.

 

Residential Market Analysis

 

Expanding infrastructure in terms of improved road and rail connectivity has led to a spurt in real estate in Perungalathur. Encompassed within this locality is an equal number of houses and apartments, truly capturing the area’s diversity. The real estate market has witnessed an astounding 20 per cent appreciation in property value over the last two years.

 

The sale price for residential plots in Perungalathur fall within the range of Rs 22,000-27,500 per sq. yd. A typical 2 BHK unit may cost anywhere between Rs 28 - 45 lakh, with 3 BHK units costing around Rs 55 - 90 lakh, at Rs 3,600 - 3,900 per sq. ft.

 

Leasing out a 2BHK may cost tenants anywhere between Rs 6,500 - 15,000 per month, while rent for a 3 BHK unit may cost anywhere between Rs 12,000 - 50,000 per month, at Rs 23 per sq. ft.

 

Major Challenges

 

The interior by-lanes of Perungalathur are muddy and poorly laid. This makes it difficult for motorists to travel. During the monsoons, these dirt roads become mushy and turn into a breeding ground for mosquitoes, which serve as a perennial problem to the residents of this locality. The by-lanes lack streetlights as well, rendering the interiors of this locality a little dangerous at night.

 

Factors for Growth in the Future

 

The locality of Perungalathur shows great potential for growth in the future. There are a number of infrastructural projects that are currently underway. The government has sanctioned the construction of the ambitious Chennai Monorail project, and Perungalathur will serve as a station. NHAI, along with Southern Railways, are planning on constructing road overbridges and pedestrian crosses across the platforms of Perungalathur Railway Station, making commuting between the two easier.

 

Also in the pipeline is the development of the SEZ by Shriram Properties Limited in joint venture with SUN-Apollo. Titled ‘The Gateway’, it will comprise an IT SEZ, a retail mall, a multiplex, and serviced apartments. This enormous undertaking will surely boost the property values of the Perungalathur

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