Chennai’s real estate market is witnessing the emergence of several new stars or micro markets which have huge potential in terms of residential real estate growth. Pallavaram has transformed into an attractive realty market in the city and one of the reasons behind this growth is the abundance of employment prospects near this region. Pallavaram is also located near the important Guindy and OMR (Old Mahabalipuram Road) areas. There is major demand for office and commercial spaces nearby while there are improvements in terms of transport facilities and social amenities which have benefited Pallavaram.
There will be continued demand in the commercial space throughout the OMR and nearby locations including Pallavaram from major companies in sectors like engineering, insurance, IT & ITeS, manufacturing and more. The steady improvements in the commercial realty market is leading to a positive effect for the residential sector here which is also witnessing increased demand.
Pallavaram offers comparatively affordable prices of property and decent connectivity options. There is good social and physical infrastructure and the metro railway network connects to several places in nearby areas. Several upcoming infrastructural projects will also benefit the area in the near future such as the extension of the Pallavaram-Thoraipakkam Road up to the East Coast Road or ECR and also the development of the metro network between OMR and Medavakkam.
Pallavaram however needs a major boost in infrastructure in order to fully capitalize on its emerging growth potential. There is great connectivity to Chennai and easy access to the Trichy-Chennai Highway, Outer Ring Road and Pallavaram-Thoraipakkam Radial Road. There are several companies like Atos India Private Limited, Cognizant, TCS, Concentrix and others who are located nearby and offer ample scope of employment.
The Phoenix Mall is only 10 kilometres away from Pallavaram and there are several other shopping centres nearby. The International Airport can be reached within only 20 minutes from the area as well. The entire stretch has several housing options across diverse budgets and this is another factor that should propel future growth as per experts.
