Chennai is undoubtedly one of the top metropolitan centers of India. It ranked fourth among the list, which initially had four but now has eight cities. Chennai is infrastructurally well-developed and continues to grow in terms of economic development. Buying apartments in Chennai is not just a sound investment decision. It also increases the standard of living. Places like Nungambakkam, Annanagar, Guindy, and Velachery are prime real estate gems of this city.
Luxury apartments are the dream of professionals today. Having a roof over one’s head is one of the necessities but having a comfortable home is a bonus. Real estate has seen a boom in the luxury apartments market, which has shown significant growth over the years. Although the majority of the population looks for stable housing, the availability of home loans and investment opportunities has led people to pay more attention to the luxury sector. Luxury housing aims to raise the bar in terms of
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- Comfort
- Quality
- Convenience
Money is not the only determiner for people to buy; home experts say there is more to it. Imagine this, the average price of a luxury apartment ranges from 90 lakhs – 3 crores (based on the amenities). Now add to this the appreciation rate of 4-7% annually. In terms of rentals, luxury apartments fetch 40% higher than regular ones. It is a significant difference when one looks at it as an investment. Luxury apartments come under the category of performing assets in a high-end neighborhood. This reason supports why most of these apartments are in such parts of the city. Some builders offer niche neighborhoods serving a particular clientele like IT professionals.
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WHAT CONSTITUTES A LUXURY APARTMENT:
A luxury apartment primarily features ample space, often a 3 or 4 BHK. Spacious kitchens, attached balconies and bathrooms, and majestic bedrooms are highlights of such apartments. It may also have a wide range of amenities for the comfort of residents. It includes Gym, jogging tracks, cycling tracks, swimming pool, shopping stores, and gaming courts.
One is spoilt for choice while looking for luxury housing as they offer anything from roof-top private pools to helipads in some cases. It truly lets one live in a king-size apartment. High-quality construction, fittings, and materials are also a hallmark of such houses. They have high-security precautions. Emergency alarms, intercoms, and other security installations will help residents lead a stress-free life. Generators and medical emergency rooms are also a regular feature. For people who are looking for luxury apartments in Chennai, look no further. As here are some famous neighborhoods and their benefits explained.
GUINDY:
It is one of the most happening neighborhoods in this bustling city. It houses the best music scene to a fascinating nature sanctuary. It is often called the gateway to Chennai for these reasons. It is the point where mount road, Anna Salai, and other integral routes meet at the Kathipara junction. It is a busy commercial hub of the city. This neighborhood also gives the residents access to vital areas like Saidapet, Kotturpuram, Adyar, and Velachery.
Guindy has no lack of places to see or landmarks that houses historical relics. It has the famous Guindy National Park, which is also interestingly the only park in India within the city limits.
Transportation is made easy by the railway station here and a metro station. These attributes reflect how well-connected it is by road/ train services. Guindy is also close to the airport.
VELACHERY:
This area is known for both its commercial importance and residential attributes. Velachery again is surrounded by happening neighborhoods all around. So professionals working within the city limits will find it easy to travel to their offices. It is flanked by institutions like IIT-M and areas like Pallikaranai wetland, Madipakkam, and Guindy.
Velachery has seen a spike in residents in recent years. It is due to the progressive growth of the IT sector in the south of Chennai. It acts as a significant hub connecting the growing business-class IT corridor popularly known as the OMR. It also links to the integral GST road and more centrally located business districts. Velachery strikes a perfect balance between the old and new, the traditional and modern faces of Chennai. It is a growing phenomenon in growth and development. The geographical advantage of this area is the reason for its favor in the eyes of house hunters.
CONCLUSION:
House hunting for apartments in Chennai is a process that takes time. Do not forget to get the priorities right. Location is of primary importance then comes to the amenities and access to essential services.
