Chennai’s growing trend on high-end projects
Chennai real estate market is experiencing an upward trend at the present time. Predominantly driven by end users who determine the demand in the conservative market of real estate in Chennai, the demand has been increasing variantly. This demand has not just been restricted to the affordable houses type but also it has been noticed there is a consistent increase of demand in luxurious apartments and villas.
Chennai has a multi axillary growth and the growth trends differ from region to region in different parts of Chennai. The south Chennai which has the leading edge in the real estate sector due to its IT hubs which has been a massive demand driving factor while the North Chennai has its demand from the private sector and port activities. West Chennai is concentrated with manufacturing industries which lead to rapid industrialisation of this zone which developed the infrastructure and other facilities at the same rate. Central Chennai has the prime economic area which has high-end realty projects.
Many leading builders are now focusing in luxurious projects. The main concentration of these type of projects are seen in the prime localities like Egmore, Adyar, MRC Nagar, Poonamallee high road, Nungambakkam and T.Nagar. There are over a thousand projects within price range of Rs. 5 – 15 Crores on various stages of development in these areas and few other neighbourhoods.
Why are the prices of the properties in this area generally high? There are two main reasons for this, the first one being people demand quality houses in Central part of the city where the high stakes rolls and there is very limited supply of land in these areas which actually made the land values hike to its peak. Other demand pulling factors include infrastructural development, high connectivity, social interaction hubs like malls and theatres and high quality of life and standard of living.
Few developers who are focused on high-end projects are Nahar group, Vijay Shanthi Builders, Cebros, VGN Developers, TVH, Akshaya and Prince Foundations. These developers provide quality high-end projects with excellent amenities understanding their consumer’s necessities. Some unique amenities in these high-end projects are 24 hours security with CCTV cameras, Premium floorings, Designer bathrooms and Kitchens and every other amenities which are offered by developers usually like Tennis courts, Open grounds, Swimming pools etc. The projects include from 4 BHK to 9 BHK apartments ranging from 5 Crores to 35 Crores on the high side.
