Nestled within the bustling metropolis of Chennai, Perungudi stands tall, offering a perfect blend of connectivity and quality living. This vibrant locality boasts both commercial properties and serene residential pockets, making it an ideal destination for various lifestyle preferences. With serene beaches nearby, Perungudi offers an ideal environment for those seeking relaxation and recreational areas to call home.

Property Rates and Rental Market

According to a research, the average residential price in Perungudi as of Q1 2024-end stood at Rs 8,816 per sq ft. This represents a significant increase from approximately Rs 6,796 per sq ft in Q1 2016, marking a 30 percent rise over the last eight years. The new supply added in Perungudi reflects a balanced mix, with at least 58 percent in the mid and premium segment priced between Rs 40 lakh and Rs 1.5 crore. The remaining inventory falls in the ultra-luxury category, priced from Rs 2.5 crore onwards.

The rental market has also seen substantial growth. As of Q1 2024, the average residential rental price for a standard two-BHK apartment of 1,000 sq ft is approximately Rs 24,000 per month. This is a significant increase from the average rental price of Rs 18,000 per month in the same period in 2018, showing over 33 percent growth between Q1 2018 and Q1 2024. Sanjay Chugh, the city head of Chennai for Anarock Group, notes that while apartments remain the dominant choice, independent houses also hold a significant presence, catering to varied preferences. Families cherish leisurely evenings by Perungudi Lake, while professionals savor coffee breaks amid thriving tech parks. Residents enjoy easy access to an array of amenities, including shops, eateries, and entertainment venues.

Catalyzed by the presence of IT parks and educational institutions, Perungudi hosts numerous co-living and paying guest facilities for men and women. A Shankar, India head of government advisory and solutions at JLL India, explains that the cost for these facilities typically ranges between Rs 5,000 per month per bed, including food, and Rs 16,000 per month per bed, depending on the type of room. The demand for flexible office spaces, commercial complexes, and commercial land has increased as more businesses and IT companies have set up operations in the area. The rental value of grade A office spaces ranges from Rs 75 to Rs 90 per sq ft per month.

Locality and Neighbourhood

Perungudi is surrounded by other prominent areas such as Velachery, Guindy, Taramani, Madipakkam, Nanganallur, Adyar, and Thiruvanmiyur, making it one of Chennai’s bustling localities. This strategic location enhances its appeal as a prime real estate hub, offering seamless connectivity and a rich array of amenities.

Connectivity

Perungudi’s strategic location is one of its USPs, with excellent rail and road connectivity providing seamless access within and beyond Chennai. The locality’s accessibility is enhanced by the presence of key transport arteries such as the Taramani Link Road and the Rajiv Gandhi IT Expressway (Old Mahabalipuram Road). These thoroughfares provide convenient access to major employment hubs, business districts, and educational institutions within Chennai. Additionally, Perungudi benefits from proximity to the Taramani suburban railway station, Perungudi suburban railway station, and Velachery railway station, offering robust rail connectivity. The ongoing construction of Phase 2 of the Chennai Metro also includes plans for a station in Perungudi, further boosting its connectivity.

Social Infrastructure

Perungudi boasts a well-developed social infrastructure, featuring numerous acclaimed educational institutes, top-notch healthcare facilities ranging from specialized treatments to everyday healthcare needs, local markets and grocery stores, restaurants, and entertainment facilities. Preetham Mehra, senior executive director at CBRE India, highlights the comprehensive amenities that make Perungudi a desirable place to live and invest in.

In summary, Perungudi is a prime example of Chennai real estate's dynamic potential. Its strategic location, robust infrastructure, and quality of life make it an attractive destination for both residential and commercial investments. Whether you are looking for a serene home or a lucrative investment opportunity, Perungudi offers an ideal blend of both. With continuous development and growing demand, this locality stands out as a promising real estate hotspot in Chennai. Explore the opportunities in Perungudi and be a part of its growth story today.

Investing in Perungudi means not just owning a piece of property but securing a future in one of Chennai's most promising localities. Contact us to learn more about available properties and make your investment in Perungudi today.