What is the current situation of premium properties in Chennai?

Q: Where does premium properties in Chennai concentrated?

Rama Naidu, Chennai

23rd March 2015

Real estate News in Besant Nagar, Chennai

buying property in chennai

investment advice chennai

chennai real estate investment

chennai real estate market

current market condition

investment or end use

Follow Discussion

Also see discussions for

Chennai Besant Nagar Real estate News Real estate News in Chennai Real estate News in Besant Nagar

Replies (2)

Hi Mr Naidu,

In my opinion, those consumers who are able to pay such an quantity like these central localities as they're near city center, coupled to all or any vital areas of town and have all basic facilities like colleges, hospitals, banks, ATMs etc.
Whereas earlier consumers were hesitant to appear for property here as a result of most of the homes and flats were previous, the re-development wave has modified the situation utterly.

Parashuram, Chennai

23rd March 2015

Comment

@Mr Rama,

In my point of view, the amenities offered in a very re-developed property area unit unremarkably higher than within the previous properties. Also, since most of the re-developed properties area unit flats they attract the young consumers. Majority of re-development is being applied by local builders.

Priya Sharma, Chennai

23rd March 2015

@ Rama Naidu,
Supply of such premium properties has been focused in areas such as Anna Nagar, Thiruvanmiyur, Adyar, Nungambakkam, Besant Nagar and Kilpauk. These localities attract the CEOs, High Net-Worth Individuals (HNIs) and Non-Resident Indians (NRIs) who think about exclusivity and in demand pin codes before zooming in on a property.

Kiran Kumar, Chennai

24th March 2015

Hi Rama,

As per different sources, in between the price range of Rs 1 crore and above areas like Adyar, Kilpauk and Thiruvanmiyur offer apartments having 1000 sq-ft - 2600 sq-ft covered area while in Nungambakkam area the apartment sizes ranges from 1400 sq-ft -2000 sq-ft. Consumers can find a few independent houses moreover along with apartments in Besant Nagar with covered area between 1000 sq-ft -3500 sq-ft and in Anna Nagar the area is within 1200 sq-ft - 2600 sq-ft.

Alex Stephen, Chennai

25th March 2015

@ Mr Rama Naidu,

In addition to the present situation, Besant Nagar and Thiruvanmiyur supply homes with a beach or ocean view. Residents in each the localities incorporate top businessmen, high governmental officers and senior professionals. Being centrally situated, these areas are near all necessary industrial hubs, recreation centers, stores and railway station, that may be a crucial issue particularly for end-users searching for a house in Chennai city.

Srinivas , Chennai

26th March 2015

Hi Mr Rama Naidu,

As per current market scenario , premium housing market of properties value Rs one cr or more that one cr in Madras has reached an 'equilibrium' mode with an identical Demand and Supply. As per totally different sources, it's detected that the establishment has been maintained for the past six months.

Chandra mouli, Chennai

23rd March 2015

Comment

Hi Rama,
According to me, the situation wasn't forever an equivalent. Throughout the months of July-September 2013 to January-March 2014 ,there was oversupply in these areas. Not only did re-development increase the stock in these areas however conjointly brought new patrons who weren't ready to get smart properties despite the fact that they paid a premium.

Gaurav, Chennai

23rd March 2015