View Complete Profile
Perumbakkam is a fast developing suburb and is located just a few kilometers from the IT corridor OMR. The driving factor for Perumbakkam realty is the closeness to the IT corridor. The proximity to the two IT corridors, OMR and Sholinganallur throu...gh the ECR Link Road has encouraged people to invest here. Investors, who cannot afford to purchase property in Medavakkam, are eyeing plots and apartments in Perumbakkam. Proximity to IT corridor is witnessing opening up of various international and Indian restaurants. The boom in real estate in this suburb is a boon to the people who are looking for flats in OMR stretch but cannot afford it in the neighbouring areas like Velachery and Medavakkam due to the price factor. Since many IT companies are operating here, investment here is a great opportunity, as the prices are affordable now. Analysts say that in the last few months the locality wills witness a rise of 8% in property value. . The ROI (Return on Investment) has witnessed an increase of 4 to 11% q-o-q.
Average apartment prices in this locality range from Rs. 3,500/- to 4,200/- per sq. ft. Average land prices are Rs.2,800/- to 6, 000 per sq. ft. The growth rate in this area is 4%. Major builders in this area include: Malles Builders, Pappas Foundation, Sumangali Homes.
Stamp Duty is 7%, Registration Fees is 1%.
vakilsearch.com is India's leading real estate legal solutions provider.
They are the official legal advisory partner of the Confederation of Indian Industry and a legal services affiliate of Sulekha.comRead more