Padur, a locality situated along the Old Mahabalipuram Road in Chennai is witnessing several new residential project launches. The locality is getting increasingly popular amongst the IT professionals due to its affordable property values and easy connectivity.
Buoyed by healthy residential demand, the locality is serving as a preferred location for residential development due to availability of land parcels. A Jagdish, a city-based realtor of Ananthi Realty Services says, “There are close to 10 developers who have their projects under-construction in Padur. With almost 4,500-5,000 housing units being constructed, the location is majorly tapped by the IT professionals working in nearby locations. About 7 out of 10 homebuyers in Padur are IT professionals.”
Presently, developers such as MMRF Realty and Infrastructure, XS Real, TVH Builders, Jain Housing and Constructions, Nahar Foundations Pvt Ltd and Shri Janani Homes Pvt Ltd among others are coming up with projects here. While a few of these are expected to hand over possession within a few months, others have slated their project deliveries by 2015 and 2016.
There are projects in all sorts of budget ranges, suiting homebuyers with different affluence levels. For instance, the projects by XS Real offer small sized 2 and 3BHK apartments within Rs 36-50 lakh, the project by TVH Builders offers medium sized 2 and 3BHK units within Rs 46-60 lakh, the project by Jain Housing and Constructions offers apartments in a price bracket of Rs 45-70 lakh and the project by MMRF Realty and Infrastructure offers only villas priced between Rs 1.3-1.5 crore. With property values ranging between Rs 3,500-4,300 per sq ft, Padur offers properties in various budget categories.
A user on Magicbricks and a resident of the locality says, “Padur is resided by both middle-income and high-income homebuyers. Surrounded by IT hubs and educational institutions, Padur attracts homebuyers from all spheres and is majorly preferred for its easy connectivity to other parts of the city.”
While it is conveniently accessible from Sholinganallur, Siruseri IT Park and Kelambakkam via the OMR, it is connected to Urapakkam and Tambaram via the Vandalur-Kelambakkam Road.
“Padur is gradually growing as a high-end location. Other than being well-connected via road networks and public transport, the locality is plush with ultra-modern infrastructures such as hospitals, educational institutions and entertainment centres,” says Giridaran K of VIP Housing and Properties, a city based realtor.
Chettinad Hospital, one of the major healthcare facilities in Chennai is situated in Padur. Apart from that, there are several engineering colleges, schools and restaurants which brace the livability of the area.
Source: Times of India Chennai