Luxury Villas and Flats in Chennai
Chennai is currently one of the few cities where the demand and availability of Luxury Villas and Apartments has seen no reduction of demand inspite of an industry wide stagnation. In fact the demand and the patronage for these ‘Exclusive’ apartments is so high that builders tend to keep many of these projects by ‘Invite Only’ meaning that you have to have an invitation from the builder to even get to the sales offices.
Most of the prospective builders are generally millionaires if not billionaires. The demand for these premium apartments have increased significantly among the globetrotting NRI and HNI community.
Features of the Luxury Apartment?
According to industry experts and architects, one of the primary requirement for an apartment to be considered a luxury apartment is that the roof height in all the rooms must be 11 feet. Many builders offer 14 feet height roof as a standard now. Also the minimum carpet area of a flat to be considered for this category should be 1900 sq.ft plus. Though this is not a norm, everything that is larger and extravagant compared to regular use is considered the de facto standard here. Generally they start at 4 bedroom and go upwards with servant quarters etc.. Privacy and exclusivity is another major sell here. Apart from the scenic view that the apartment offers, no two houses have common walls and also balconies are private. Some of the other features that are a given are:
- Large Swimming Pool and Children’s Pool
- Outdoor Dining
- Informal Seating Areas
- Wi-Fi Connection (optional)
- Air-conditioned Party Hall
- Health Club
- Yoga/Aerobics (A common room)
- Badminton/Volley ball
- Half Basketball Court
- Tennis Court
- Table Tennis/ Carom
- Board Games
- Children’s Playground
- 24 hour fitness center
- Clubhouse with coffee bar
- Billiards lounge
- Swimming pool with beach entry
- Tennis court
- Garage parking available
- Climate controlled storage
Live Life! King Size!
Ultra Luxury Apartments
If Luxury was not enough, Chennai is now host to many Ultra Luxury Apartments. These are characterized by Private Lifts, Concierge Services, Exclusive Infinity Pools, Interiors are at premium specifications. There are many apartments that have even requested for an helipad license from the Government. Mini Golf Courses, Roof-top private gardens, Escalators/ Lifts within the house, premium security cover, Multiple car parks, noise cancellation doors, home automation, five star lobbies, non-common property access are some of the various features being publicly talked about. The demand for these ultra luxury apartments have seen no reduction in demand.
Premium Locations in Chennai
Some locations are more ordinary than the other! Nothing is more true to explain the position of these properties that are mushrooming across Chennai. Some of the areas usually considered premium are the Boats Club Road, RA Puram, OMR, ECR, Vadapalani, Anna Nagar, Kilpauk, Adyar, Besant Nagar, Thiruvanmiyur, San Thome, Egmore among others. As you can expect the guideline value of these areas are already among the highest in Chennai and some say even in India.
The actually selling rates are many times the guideline value. Boats Club road for example which is a premium location having a guideline value of 16000/sq.ft easily has apartments that sell at 40000/ sq.ft.
Maintenance costs for these homes range from Rs. 8 to Rs.10 per sq. ft per month, which adds up to Rs. 50,000 for a 5,000 sq.ft home. But it is still bargain according to many builders as the value added in terms of the services offered to the buyers is significant. Especially privacy, security being the buzz to pay for! Most importantly the status symbol associated with addresses are worth the cost according to buyers.
Premium Properties Currently in Chennai
According to builders, work in many of the premium apartments start only after all the specifications are finalized with the buyer and hence, very rarely are these apartments available at ‘Ready to Move’ conditions since, there is so much customization done to suit a particular buyer that the new buyer may not like the choices in case the sale falls apart at later stages.
If trends are to be noticed, currently most of the Premium Apartments and Villas are concentrated in South Chennai (Adyar, OMR and ECR)
Most Famous Premium Luxury Apartments in OMR, ECR
Premium Luxury Apartment in Central Chennai
Vertica by Landmark Constructions: This 17 storey property is located in Peters Road and boasts of and Infinity Swimming Pool in the terrace and a 14000 sq.ft clubhouse at the 17th Floor to give you a great view.
Express Exclusive by the Express Infrastructure: This property is coming over in a 5 acre complex next to Express Avenue. The property boasts of 3 way ventilation with a commanding view of the City Center.
Premium Luxury Apartment in Anna Nagar
Metrozone by the Ozone Group: The project is spread over an area of 40 acres and has its own Hypermall and Movie Theater. Apartments range from 1500+ sq.ft to 4500+ sq.ft