Project of the Week: Radiance Realty, Mercury, Perumbakkam, Chennai

Perumbakkam is a popular real estate market in Chennai, because it enjoys proximity to the city's IT corridor. Low prices, good social infrastructure and strategic location are the main reasons why it is gaining popularity.

Radiance Realty is building Radiance Realty Mercury to meet the demand for residential projects in Perumbakkam.

PropGuide explains the projects in detail:

The project

Radiance Realty Mercury, an under-construction project, is situated in Perumbukkam, Chennai. The project will be ready for possession by December 2016. The project is spread over an area of 6.5 acres. It has 186 apartments units of sizes ranging from 500 sq ft to 1,473 sq ft. These can be purchased from the developer, or through resale. The project has amenities like:

• A gymnasium• A children's Play Area• A 24x7 security system•  A landscaped Gardens• A swimming pool• A club house• An indoor games facility• A jogging track• A power back up facility• A rain-water harvesting system• A car parking area

The locality

Perumbakkam is close to the upcoming Electronics Corporation of Tamil Nadu Limited (ELCOT) SEZ.

Key thoroughfares: Mambakkam Main Road

Neighbouring areas: Kelambakkam, Guindy, Tambaram, Sembakkam and Velachery.

Educational institutions: Advent School, Sahasras Pre-School, Zigma Matriculation School, and Vidyalaya Senior Sec. School.

Hospitals: Primary Health Center, Suraj Hospital, Global Hospital, Oxygen Hospital and C.M. 24 Hours Hospital.

Transportation facilities: The Velachery Railway Station is located at a distance of 13 kilometres. Airport is at a distance of 19.2 kilometres.

Measurements and Price1 BHK apartments are made available in sizes ranging from 572 sq ft to 660 sq ft.

2 BHK apartments have sizes that range from 600 sq ft to 969 sq ft. Prices are made available on request. The size of 3 BHK apartments range from 1, 200 sq ft to 1, 473 sq ft. The price of 3BHK apartment units range from Rs 42 lakh to 51.5 lakh.

The developer

Radiance Realty, previously known as NAPC Properties, is a well-known developer in Chennai. S Kannan is the Vice President, and Varun Manian is the Managing Director of the group. Since inception, the group has worked on 16 projects.

Overall recommendation

Radiance Realty Mercury is an excellent choice, largely because it is situated in Perumbukkam. The locality enjoys good growth prospects. Prices are also affordable, because the locality is still developing.