Sriperumbudur: Gain from investing in land parcels

Located in the southwest part of Chennai, Sriperumbudur is a rapidly growing business destination popularly known as the industrial capital of Tamil Nadu. The locality has a lot of potential for economic expansion, being one of the major industrial, trade and commerce hubs of South India. With an increase in automobile and service sectors along with its strategic location on the Chennai-Bengaluru highway, Sriperumbudur has witnessed an upward trend in demand from industries as well as land investors, as it is home to some of the major automobile industry players who are constantly looking to expand their operations. 

It is a major hotspot for investment in industrial land plots with good access to roads, with leading land aggregators like G Square helping manufacturing players to acquire legally intact contiguous land parcels. The industrial (manufacturing) corridor at NH4 (Chennai-Bengaluru highway), towards the south-west of Chennai comprising Sriperumbudur and Oragadam has hastened the locality's evolution into a highly promising electronics and automotive hub. 

The residential real estate market here is primarily driven by end-users who are attracted by the proximity to the industrial employment generation here from large tech parks, other commercial establishments, hotels, business centres and various other industries. Residential property prices are also range-bound and affordable when compared to the more central areas of Chennai.

Smaller land investors are attracted to Sriperumbudur because of the lower entry points but considerable scope for appreciation. 

Owing to the rapid development of business centres around the area, the locality also benefits from its proximity to the Chennai airport. It is also a popular destination for motor racing events organised by the Madras Motor Sports Club. 

Even though Chennai shared the downward trend in the real estate market seen across the country over the past two-three years, Sriperumbudur continued to show an uptrend with land, office space and residential investors. The average price of residential property in Sriperumbudur ranges between Rs 2,135 and 3,102 sq ft, depending on the location, project’s completion status and available amenities. 
 

Prices of office spaces range from Rs 250 to 450 sq ft and those of industrial land from Rs 250 to 990 sq ft. 

The writer is Managing Director - Chennai, JLL India