Evolution of Real Estate Buyer Preferences and Requirements in Chennai

Posted at 25.08.14

Chennai represents a very robust real estate market. Flats and land in Chennai have always been hot properties that promise assured big returns. Gone are the days when properties were bought for the sake of investment. Today, a home is more than just a piece of investment. It is a place that is synonymous with your lifestyle standards. It is a place you want to come back to or invite friends and family over. It is a self-sufficient hub that allows the buyer or occupant enjoy all amenities without the need to step out of the compound.


From Apartments to Townships

Integrated townships in Chennai

With time and lifestyle change, requirements and preferences of real estate investors are also changing. These changes reflect on real estate properties as well. Builders, international and domestic are propelled to cater to the dynamic requirements of investors today. A few years ago, buyers wanted swimming pool and children’s play area in their apartment space. There was a flurry of apartments that were constructed catering to this need. A few years later, people’s interests moved from flats and land in Chennai to villa projects and hence a number of villas and farmhouses lined the suburban regions of Chennai. Today, the demand is for a self-reliant and well equipped township that symbolizes community living of the west.


Why Townships?

Why Townships?

Townships have emerged as a popular style of living today in Chennai. However, land availability for such big projects can be seen only in the suburban regions like OMR, Sriperumbudur, ECR, GST Road and the likes. Premium builders have commenced construction projects in these regions and the upcoming or recently completed township projects are green buildings that comprise state-of-the-art hospitals, good international schools, modern restaurants, sophisticated business hotels, well equipped retail centers, recreation complexes, private helipads, fitness centers and pharmacies to make them a mini city in all respects.

Also, the shift in preference from flats and land in Chennai to townships also stems from the fact that townships in the city are located in close proximity to the workplaces thus putting an end to the issue of traffic and commute that is so symbolic of every metropolitan city in India. Further infrastructural progress in these suburban localities enhances their appeal and potential triggering a larger number of investors to invest in them consistently. With consistent demand, more and more premium builders are constructing such luxurious projects accelerating economic standards of Chennai.

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