Central Chennai is a posh and sought after residential area when it comes to the high segment of housing properties and the leading builders in are promoting new flats in Chennai mainly central Chennai. Many reasons may attribute to the fact that builders are interested in building flats in Central Chennai areas like Mylapore, Nungambakkam, Egmore and RA Puram etc.
People in Chennai want to invest in luxurious independent homes or flats with areas ranging from 3000 to 5000 sq ft. The builders had a lack of space in Central Chennai which had been stopping them from building such luxury apartments in this area but nowadays, many builders seem to be getting hold of space in areas like Egmore and Nungambakkam for constructing luxury apartments. Builders are getting hold of land in central Chennai nowadays because of the boom in the real estate market and the willingness for sale of such lands by many owners to promote apartments and independent houses.
Houses and flats in central Chennai range from anywhere between Rs 15,000-20,000 to Rs 16,000-22,000 per sq ft. This surely pushes the houses and apartments built into the luxury sector of the city. Most of the people who are investing in such properties are NRIs and HNIs who are supposed to be the big ticket investors. There are many specific reasons for people to choose such luxury projects located in central Chennai. Some of these projects include high end amenities like concierge services, Turkish baths and gymnasiums which seem as an added benefit to the buyers. It is clear that these houses are intended for the demand of the high-end luxury segments. People who want to have a long term investment in a luxury hub surrounded by the bustling city atmosphere and amenities are sure to be attracted by such flats which are being built in Central Chennai.