Demand for luxury properties in Chennai

Q: Heard that Chennai is seeing preferences for luxury and spacious apartments. Kindly let me know details about it

Uday kumar, Chennai

26th February 2014

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Replies (3)

Nowadays the middle-income home buyers are moving towards the luxury apartments due to their higher disposable income and also due to income tax benefits of having more than one house. The trend is modest in Chennai.

Supratim,

26th February 2014

Comment

Chennai growth is mainly due to rapid growth of the IT and service industries that is the reason Chennai is seeing preferences for luxury and spacious apartments.

Joydeep D,

26th February 2014

Guys Chennai is fast turning into a cosmopolitan city. The home buyers are demanding premium residential options. Specifically, in 2013, there is huge demand seen for 3BHK configuration ranging anywhere above Rs 60 lakh.

Rubiya,

26th February 2014

Comment

I believe that the Chennai buyers who could not afford the house they wanted, are now moving out and are showing their interest towards the luxury and spacious properties.

Vivek Kulkarni,

26th February 2014

Hey Uday, the city has seen facing about 16 per cent demand for properties in the price bracket of Rs 60 lakh – 1 crore, and about 12 per cent demand for the properties over Rs 1 crore.

Gurmeet,

26th February 2014

Comment

Also NRI’s investments are confined to high-end 2BHK apartments because their investments are aimed to provide shelter to their parents or for the sake of owning a house.

Balwinder Singh,

26th February 2014