Luxury project buyers number is increaing in Chennai.

Q: What are the reasons behind the hike in luxury project buyers in Chennai? Why now?

Priya Sharma, Chennai

29th December 2014

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Replies (1)

Hi Priya,
The three key growth drivers of IT / ITes, automobile manufacturing and education sector are instrumental in driving job creation in Chennai. These are the major reasons behind growing cosmopolitan culture in Chennai. With this the premium luxury segment has kicked off and Chennai has overcome the traditional tag.

Pavan kumar, Chennai

29th December 2014

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@ Priya,
In my point of view, interestingly, residential property prices in Chennai have escalated the fastest among the cities in India, witnessing an appreciation of almost three times of what they were in 2007. Chennai buyers too are driven by the pin code value of their addresses.

Javed, Chennai

29th December 2014

Hi Priya Sharma,
Previously, these buyers were hesitant to move to the suburbs due to lack of well developed infrastructure. However, options available in the focal locations were exorbitantly priced. Over time with the growing social and physical infrastructure and rise in disposable income luxury segment in the has found more takers.

subramanya, Chennai

29th December 2014

@ Priya,
As per my knowledge, unlike the usual perspective of investment based real-estate choices, the trend in today's market is organized living in ultramodern designer spaces. Amenities have outgrown land costs in contributing to the value propositions.

Venu Gopal, Chennai

29th December 2014

Hi ,
According to me, irrespective of the income groups we have seen well travelled individuals develop a liking towards these luxuries. However, given the budget constraints, HNIs and NRIs opt for these houses more than the locals.

VKumar, Chennai

29th December 2014

Hi Guys,
If you are looking around for designer villas, cozy beach houses and farm houses, the stretch of Vandalur-Kelambakkam highway, ECR, GST corridor and around Chengalpet are the locations you could think of considering. Other areas in the established vicinity of South Chennai are Adyar, Anna Nagar, Nungambakkam, T Nagar and Kilpauk.

Srinivas , Chennai

30th December 2014

Hi Priya,
You could also go in for destinations like Thiruvanmiyur, Neelangarai, Besant Nagar and Kottivakkam that are closer to the beach and would make for a good locale both for living and renting. If you are looking for a lavish second investment destination, farther from the city yet upcoming, you could bank on the farmhouses in Sriperumbudur or ECR Road that boast of maximum availability of farmhouses on sale.

Alex Stephen, Chennai

30th December 2014