Pallavaram property market: An overview

Pallavaram is one of the oldest neighbourhoods in Chennai and is located in the southern part of the city. Both,the Mughals andthe British, had their cantonments in Pallavaram. An aerodrome was also made by the British in the area. The Pallavaram hill is made up of Charnockite Rock, which is believed to have healing properties. Nearby Pallavaram localities include Chromepet, Tambaram, Chitlapakkam, Thiruneermalai, etc.

 

Being one of the oldest parts of the city, it is one of the premier residential areas as far as Pallavaram real estate is concerned. Beautifully planned and landscaped, the area has well-developed social amenities and is home to a cosmopolitan population. Due to the advent of various IT majors and other multinational corporations, Chennai has been witnessing a rapid influx of working population from outside. As a result,there has been a surge in the demand for residential apartments in Pallavaram, which is an important suburb of Chennai.

 

There are a number of noted projects, which have come up in the area like Navin Housing Hillview Avenue, Confident Ruby, Navin Housing Skanda, Royal Splendour Aspire, etc. Builders in Pallavaram include famed developers like the Navin Housing, Mantri Group, Olympia Group and Steps Stone Group, who are working on some major projects in Pallavaram.

 

Connectivity with nearby Pallavaram localities

• Chennai Bypass Expressway, Kundrathur Road, Grand Southern Trunk Road and Outer Ring Road, are some of the prominent roads which run though the area.
• The area has an extensive bus service and the Pallavaram Bus Stand and TambaramBus Stand lie in close vicinity.
• The area also has its own suburban railway station. Apart from that, there is a railway station at Tambaram,which is approximately 7 kilometres away from Pallavaram.
• The International Airport Metro Station,St Thomas MountMetro Stationand AlandurMetro Station also lie in close vicinity.
• The International Airport is only about 3-4 kilometres away from the area.

 

Employment hubs near Pallavaram

• The Olympia Tech Park, Ekkaduthangaland MPL Silicon Towers,are located approximately at a distance of about 8-9 kilometres from the area.
• The Chennai Trade Centre, SIDCO Industrial Estate and Guindy, are approximately 10 kilometres away from the area.

 

Schools in Pallavaram and other social amenities

Pallavaram offers very good social infrastructure to its residents. Some of the reputed schools in Pallavaram include the Loyola Matriculation Higher Secondary School, Lalaji Memorial Omega International School, ChellammalVidyalaya Senior Secondary School,etc. Some of the leading hospitals in Pallavaram include the Chennai Krishna Hospital, BM Hospital, Hindu Mission Health Services,etc. The shopping needs of the residents are catered by malls in Pallavaram such as the Chandra Metro Mall, Phoenix Market City, Matrix Mall, etc.

 

Price trends in Pallavaram

• Price appreciation—Around 20% in the last one year.
• Current property rates—Rs 4,312-Rs 6,703 per sq ft.

 

Reasons to invest in Pallavaram

Pallavaram possesses many gated communities and luxury apartments. It offers excellent connectivity and social infrastructure and these are the major reasons for its growth. Thus, there is no denying that Pallavaram is certainly a good place to live in Chennai. Further, considering the price trends in Pallavaramand the rising demand, the locality will definitely prove to be a good investment region in future. The area will only grow further, with a number of projects being developed. This is likely to fuel excellent appreciation of property rates in the area.

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