April 08, 2015
Meta description: Chennai shines as the perfect location for the redevelopment of luxurious homes in India. Get more information about how Chennai is emerging with luxurious homes in India.
Planning to buy a house soon? Then Chennai is one hotspot that is being eyed by buyers, as well as real estate developers, in order to build luxurious homes in this metro city of India. Though the city is rich with monuments and buildings of heritage value, they still require to be polished. Real estate developers believe that redevelopment is the key. This is essentially because properties in Chennai have shown tremendous scope for investment. Builders want to cash on this opportunity and are designing plans to build sky-high luxurious homes in this city of India.
- Moving towards urbanization
Chennai used to be a city that has grappled with haphazard development. But ever since the government is designing a plan to redevelop the city, real estate developers feel this is the best time to build luxury apartments in Chennai. It is believed that the redevelopment can generate the urban landscape, ensure efficient utilization of resources, and enhance the quality of people’s lifestyle. Once the approval mechanism increases, properties in Chennai will be entirely developed by builders and the location will be ready for earning significant returns on investment.
- Booming real estate on city’ outskirts
Properties in the Outer Ring Road of Chennai (ORR) have got tremendous appreciation by the real estate sector. In fact, according to consultants, ORR has witnessed more than 200% appreciation. Real estate, along the stretch between the GST Road and the ORR at Vandalur, is being targeted to construct luxurious homes in India. The Chennai Metropolitan Development Authority decided to retain the 50-meter buffer zone along the eastern side of ORR. This proved to be a turning point in the real estate urbanization of Chennai. Authorities have assured that the 50-meter space would be used for wayside amenities, commercial establishments, and future expansion of roads.
- Planning the development of sky-high buildings
The essence of staying in luxurious homes in India with plush interiors is a dream everyone wants to accomplish. Real estate developers want to provide buyers with quality and upscale lifestyle by constructing luxury apartments in Chennai. Hence, the government should ease the archaic laws that restrict the construction of high-rise buildings in approved residential layouts and major colonies promoted by the Tamil Nadu Housing Board. It is believed that by replacing low-rise buildings with multi-storeyed apartments, there would be enough of space around the property for improved ventilation and lighting. More than that, this metropolitan city that has narrow lanes and footpaths, would re-emerge as a pedestrian-friendly city with broader pavements.
- Brightening the real estate future in Chennai
Real estate developers such as the House of Hiranandani (HOH), which is one of the best builders in the country, are not leaving any stone unturned when it comes providing luxurious homes in India. Areas in Chennai such as Perungalathur, Padappai, Mudichur, and Kundrathur have shown immense scope of property investment because of the world class road projects that adjoin these areas. After a thorough analysis and research, they are chalking out strategic plans to build luxury apartments in Chennai. They feel that the land in Chennai can be classified for commercial, residential, and institutional use. Thus, they are monitoring the steps and initiatives that the government is considering. Real estate developers feel that townships such as Sastri Nagar, Indira Nagar, K. K Nagar, and Anna Nagar can be profitable areas for building high-rise structures.
House of Hiranandani has plans to develop townships and luxurious homes in this city of India. Keeping in mind the scope of redevelopment in Chennai, potential buyers and investors can look forward to quality constructions and luxury apartments in this southern city of India.
K. Altaf, Managing Editor, THE PROPERTY TIMES