Property in Poonamallee
Poonamallee is a suburb of Chennai and is a town in the Poonamallee taluk of Thiruvallur district in Tamil Nadu. Its name is derived from the word ‘Poovirundavalli’, which translates to a place where Jasmine is cultivated. This locality is believed to be the birthplace of Thirukachi Nambi , a staunch devotee of Varadaraja Perumal. The ancient temple of Lord Varadaraja Perumal, Lord Vaidyanathaswamy with his consort Thaiyalnayagi, Siva temple, Abdullah Khattab and Mohammedan Fort are some of the historical attractions in the area. Poonamallee, a sought-after locality, is situated just 25 kilometres from the city of Chennai.
Poonamallee town is situated towards the end of Mount- Road. Fort St. George is located at a distance of 23 kilometres from Poonamallee while Sriperumbudur is located 17 kilometres away. The Mofussil Bus Terminus on the Chennai bypass is located about 13 kilometres from Poonamallee. Mount- Road is also known as St. Thomas Mount- Road, which is an arterial road in the city of Chennai. This 11-kilometre long road runs from Kathipara Junction to NH 4 connecting St. Thomas Mount with the suburb of Poonamallee. High Road is one of the major roads in Chennai that runs from Poonamallee to the Central Railway Station. This road connect localities like Ekavali Nagar, Poonamallee, Munikrishna Nagar, Aminjikarai, Koyambedu, NGO Annexe, Railway Station, Maduravoyal and Ganapathy Nagar. Central railway Station and CMBT are connected thorugh this road. The Metropolitan Development Authority (CMDA) has planned a new 80 feet wide road that will connect High Road (NH-4) and Wholesale Market Complex 'A' Road. Avadi is the nearest railway station located 9 kilometres from Poonamallee.
Schools and Hospitals
Some of the well-known educational institutions in Poonamallee include the Madras Institute of Hotel Management and Catering Technology, Mosque of Madarasa Kashiful Huda, Sacred Heart College and High School. There are several hospitals in the area catering to the medical needs of residents. These include MCH Centre , Ortho Square Bone & Joint Hospital, Saveetha Oral Cancer Radiotherapy Hospital and ACS Medical College and Hospital.
Real Estate in Poonamallee
In the past few months, Poonamallee has recorded huge appreciation in the residential property segment. Availability of well-developed infrastructure, proximity to IT hubs and excellent connectivity have led to an increase in demand of residential properties in Poonamallee. Exorbitant prices in Porur and Anna Nagar have also resulted in demand for residential housing shifting towards this locality. Numerous completed and under construction projects by renowned developers like Group, Sobha developers, Tata Housing and Royal Splendour are present here. Average price of apartments in Poonamallee is Rs 4,222 per sq. ft. There are 28 projects currently under construction in Poonamallee and 8 are due to get possession in 2014. Unit size of apartments range from 455 sq. ft. to 2,621 sq. ft. Though the demand for residential property in Poonamallee is driven by end users, investors are also showing keen interest in this locality.
Property rates in Poonamallee have risen by upto 12.8% in last 6 months.
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