What can Investors look for in the Real Estate market in Chennai today and tomorrow?

Real estate in Chennai, a couple of decades ago, was as conservative as the mind-set of the city. Residents preferred the Central Business District for abundance of amenities for the entire family. Home buyers have always been driven by location preferences in Chennai. Therefore, there were a lot of limits that were imposed in the real estate market as recent as even one decade ago. When most other metropolitan cities focused on the creation of large integrated townships and luxury apartments in the outskirts of the city; Chennai residents were more than happy to stay at smaller homes that the CBD could afford. However, this scenario is now changing.

New Trends in Chennai Real Estate

In the coming months, real estate in Chennai is expected to witness dramatic changes. There are a string of township projects that are in the making and due for completion sooner. These projects are largely based out of OMR, ECR, Sriperumbudur, GST Road and the likes. And they are expected to bring about rapid transformation in the city’s landscape.

1. Plot coverage in these townships is minimal and there is massive green cover. This means that such projects are not only eco-friendly but enable its residents to lead a pollution free, safe, healthy and green living. 
2. Community living was a term that was unheard of in the city until 2006. Today, the concept has been making breakthrough with several premium real estate developers creating townships in the city. Community living has a lot of advantages to offer. Man’s need of social engagement is enabled greatly by society. Townships offer greater safety with security and proximity of other homes when compared to independent homes anywhere in the city or elsewhere. Townships usually are green projects and hence there is better lung space. Such townships are thus set to create an indelible imprint on the real estate market of Chennai.
3. Residential communities are usually complete with all contemporary amenities like swimming pool, sports courts, fitness center, joggers’ trail and the more elaborate ones like retail centers, hospitals, schools and recreation hubs thereby making them self-reliant in every sense of the word.

Real estate in Chennai has today set the pace with game changers of myriad kinds. Now, as the townships complete and community living commences in the city, real estate experts forecast a decisive momentum of a large spectrum in the city.

Concept Homes – The next in Real Estate Evolution?

Concept homes have begun a new era in residential apartments in Chennai. Although real estate builders that offer such concept homes constitute a small number today; it is a step in the right direction. The modern customer expects innovative concepts for his home since he intends to maintain a specific lifestyle. The modern customer has better affordability because of the advent of new age industries and lucrative career opportunities they provide. Therefore, the modern customer incessantly looks for innovation, creativity, style and luxury besides the conventional needs of quality and proximity.

Real estate developers in Chennai are gradually recognizing the value proposition of concept homes. One of the renowned builders in the city has recently tied up with Disney India in the design and creation of Disney concept homes. The idea is expected to become a large hit with the population since the cosmopolitan crowd prefers innovative concepts that can better their quality of living. While modern amenities like swimming pool, fitness clubs, sports courts, club houses and play areas continue to be sought for options; the population is also looking for more. This is where concept homes with scope for customization can strike a difference.

Flats for sale in Chennai are an ideal destination to experiment with high quality innovative concepts because the demand for such properties is gradually growing with the city population. Builders need to be cognizant of changing customer preferences and offer choices in order to beat competition and reign supreme.