Properties in Porur gains Momentum

Properties in Porur gains Momentum among Chennai’s Homebuyers

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Located in South-west of the Chennai, Porur is one of the prime suburbs which is gaining traction amongst many homebuyers of the city. Reason for this, a well-developed infrastructure, good and sound connectivity and presence of many IT hubs and Chemical industries nearby that makes this area a hot real estate investment destination.

Porur is surrounded by other developed areas like Alapakkam, Moulivakkam, Meenakshi Nagar, Mangadu, etc. The area enjoys smooth connectivity via a flourishing road network. Arcot Road, Mount-Poonamalle Road is some of the important roads that pass through this region. One can easily take state-run buses for other cities like Bengaluru and Kanchipuram from these roads.

Porur is also home to leading schools, shopping malls, hospitals, entertainment, etc. Some of them include the Institute of Public Health Madhanandapuram Govt. School, St. Mary’s Matriculation Higher Secondary School, etc. The area is popular for the presence of renowned Ramachandra Medical College.

Presence of many chemical industries, manufacturing plants, and IT hubs like YCG IT Park, IT Park, and Jayanth Tech Park also calls upon homebuyers to invest in a residential unit here. Leading companies present in these parks are IBM, Mphasis, iGate, Cognizant, etc.

Due to sound infrastructure, Porur in recent times has attracted many leading developers to develop their housing projects here. The demand from the buyer’s side has also increased at a steep rate. Even the rental market has also thrived with various options present for tenants.

At present, the average property price in Porur is Rs 5,770 per sqft. However, it hovers between Rs 4,573/ sqft to a maximum of Rs 6,966 per sqft. One can easily find a 1 BHK residential unit within Rs 35 lakh, while a 2 BHK is available in the range of 40-80 lakhs depending on the size, facilities, and configuration. Some of the leading developers present in Porur are SPR, Primex, Prince Developers, etc.

In the past few years, Porur has seen a steep rise in the property price. With the pace of development, these rates will increase at a faster rate, suggest experts.