The rising population and an increase in the modernisation have led to the high demand housing in Chennai. 15 years ago it was a hand full of people who wanted to buy apartments in Chennai. Now the entire population wants to purchase apartments. This is because the city is dotted with developers and projects, as it is the right time to buy. The main reason for people dropping the concept of individual living and adapting to apartments is because of the all-inclusive approach. Many apartments from reputed developers adhere to code these days. It’s not haywire like it used to be, after the implementation of RERA. Buying a home is not an easy task, it takes proper research and patience.
The need for sophistication in the city has paved the way to developers bringing in more and more luxury apartments in Chennai. For those wondering if it is a wise decision to invest in luxury homes in Chennai, here are a few suggestions that might bring clarity and help you make a better buying decision.
Safety and security
The majority of home buyers in Chennai are young families with kids and senior citizen abode. This calls for an emphasis on the security of the home that you are about to purchase. Almost any luxury apartment by a reputed builder would surely guarantee an impeccable security system. This includes 24/7 security surveillance through guards and cameras. Some luxury apartments take it up a notch by building a smart monitoring system, that allows you to keep tabs on your home while you’re away. Moreover, the security guards in most luxury houses are accustomed to handling crisis. All these security traits might not accompany an affordable apartment.
Luxury apartments are usually known for their location advantages. Even though luxury apartments are usually located in a calm and secluded area that is almost away from the bustling city, it is also located at most accessible places as the location advantage is the one of the most important USP to any luxury apartment-builder. Apart from the fact that a luxury apartment always has good connectivity, it drives the growth of other retail sectors that would cater to the residential community around the area.
Living in a Landmark
The architectural grandness and design of the facade of the luxury apartments might help in many ways than you might know. Firstly, the building would become a prominent landmark because of the unique design aspect. Who wouldn’t want to live in the tallest building in town or the greenest building in town? Whatever the extra effort that might be, it gives you an added advantage. Secondly, the luxury apartment might bring in a huge commercial growth in the area. Thirdly, the appreciation on the property might increase three folds in just a few years because of the location advantages and accessibility.
Most luxury apartments are centrally located in a developed or developing area. When you opt for a luxury apartment you would want to be as comfortable as possible. This includes giving the best possible facilities for your entire family with proximity to schools, hospitals and other entertainment centres.
We wouldn’t be able to build our own private swimming pools and cafe lounges. But, when you opt for a luxury apartment, it comes with some envious perks. It might include, a swimming area, sports arenas, green rooftops, in-house hangout spots, a mini theatre, a gymnasium and more amenities at your grasp. Who would mind the other In-house on-call services such as the plumber, electrician, maids and laundry services? Luxury apartments are aimed to care the most for kids and senior citizen. The seniors could take part in a wide range of activities, that would give them a sense of belonging and keep them active.
With the developing need for sustainable living there is a drastic increase in the number of developers who would like to accommodate as many eco-friendly measures as possible. Most developers aim at getting certified as a green building. Green buildings ensure proper usage of resources and recycle to avoid any wastage. Luxury apartments also focus a great deal on maintaining luxuriant gardens in order to provide a holistic experience to the residents.
Best time to buy luxury apartments
There has been a substantial increase in the residential housing sector in Chennai. RERA (Real Estate Regulation Act) played an important role as it brought transparency to the real estate industry in India. The other reasons for the increase in the sale of apartments in Chennai might include the tax benefits and the PMAY scheme. Also, banks offer several personalised schemes that are beneficial to the buyers.
Why buying a luxury apartment is a wise decision?
There is not a huge differentiation in the pricing, between an affordable and luxury apartment. You may also hear that the luxury apartments are costly, this is a huge misconception. There are different types of luxury apartments such as 2, 3, 3.5 and 4 BHK. They all share the same amenities and location advantages. One could easily afford a 2 BHK and enjoy all the perks of luxury-living.
Buying a home is going to be the most expensive investment for most of us. A well-researched decision might land you on the luxurious lifestyle that you have always imagined.