Pallikaranai property market: An overview


Pallikaranai, located very close to the industrial zones and IT hubs of Chennai, is one of the rapidly developing areas of the city. The area has good civic infrastructure and is well-connected to other parts of the city

Pallikaranai is a residential area located in the southern suburbs of Chennai. Nearby Pallikaranai localities include many famous areas of the city such as Velachery, Medavakkam, Kovilambakkam, Karapakkam, Perungudi, etc. A variety of projects are available in the area, in the affordable and luxury segments. There are a lot of reputed builders in the area, like Puravankara, Nahar Foundation and Paramount, who are working on different projects in Pallikaranai. Some of the premier projects in Pallikaranai include Nahar Tuquoise, Chettinadd Housing Enclave, PET Thangam Flats, Puravankara Windermere, etc.

 

The area lies very close to the IT hubs of Chennai. As a result, there has been a surge in the demand for residential apartments in Pallikaranai. Although prices of the flats in Pallikaranai are increasing, affordable housing options for the mid and the junior-level executives of the various companies, can also be found here.

 

Pallikaranai has been recently brought under the purview of the City Corporation of Chennai and the plans have been drawn up for a number of infrastructure projects. The civic amenities have also improved here. The industrial and IT sectors’ growth, have boosted the development of the retail and hospitality sector in this area, as well. Further, Pallikaranai has a number of lakes and water bodies and also a wetland swamp which is a rich source of biodiversity. The National Institute of Ocean Technology is also located in the area.

 

Connectivity with nearby Pallikaranai localities

  • There are a few major roads which run through the area, i.e., the Pallavaram-Thuraipakkam Main Road, Inner Ring Road and Velachery Main Road.
  • The area has an extensive bus service and the Adambakkam Bus Stand, Guindy Bus Stand and Chrompet Bus Stand lie in close vicinity.
  • There are railway stations at Tambaram and Guindy and both the railway stations are approximately 13 and 9 kilometres (respectively) from Pallikaranai.
  • The Alandur Metro Station and St Thomas Mount Metro Station also lie in close vicinity.
  • The international airport is nearby, as well.

 

Employment hubs near Pallikaranai

  • The MPL Towers is located at a distance of approximately 2.5 kilometres.
  • Bahwan Cybertek IT Park is located approximately 5 kilometres from the area.
  • ASV Suntech Park and Prince Info City are also approximately 6 kilometres away only.
  • Shapoorji Pallonji Infocity is located approximately 7 kilometres away from the area.

 

Schools in Pallikaranai and other social amenities

Pallikaranai offers very good social infrastructure to its residents. Some of the reputed schools in Pallikaranai include the Sivashakthi Matriculation School, New Prince Matriculation Higher Secondary School, Abacus Montessori School, etc. Some of the leading hospitals in Pallikaranai include the Dr Kamakshi Memorial Hospital, BM Hospital, Velachery KS Hospital, etc. The shopping needs of the residents are catered to by malls in Pallikaranai, such as the Phoenix Market City, Vantage Plaza, DLF Mall, etc.

 

Price trends in Pallikaranai

  • Price appreciation—Around 20% in the last one year.
  • Current property rates—Rs 4,500-Rs 9,750 per sq ft.

 

Reasons to invest in Pallikaranai

Pallikaranai lies very close to the IT and industrial zones of Chennai. Also, Chennai City Corporation has recently taken over the administration of the area. Consequently, the scope of development of infrastructure facilities in the region, is good. Further, considering the price trends in Pallikaranai and the rising demand, the locality will definitely prove to be a good investment region in future. The region is likely to witness excellent appreciation of property rates, owing to a number of projects which are being developed.

See properties in Pallikaranai

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