Top 5 Areas in Chennai that tick all the right luxury boxes
Chennai used to be considered a city of old money. Where inherited wealth was commonplace and self-made millionaires, a one-off statistic talked about over drinks at the Boat Club. Today, Chennai has evolved into a favoured destination for the wealthy with all its residential hotspots. A place where start-up founders rub shoulders with venture capitalists and industrialists, this new breed of luxury investors does not shy away from committing substantial sums of money for new real estate projects in Chennai. And leading builders in Chennai, for the most part, and the businesses that form part of their ecosystem are happy to oblige.
Certain parts of the city have become hotspots for luxury properties in Chennai. Here are the top 5:
Known as the home of the Madras Boat Club, this purely residential area faces one side of the Adyar River and is renowned as the home of VIPs. With some of the city's best restaurants and shopping destinations, Alwarpet real estate attracts an upmarket audience which is evident from the many luxury and ultra-luxury properties in the vicinity.
Known locally (and popularly) as ECR, this area faces the Bay of Bengal and has seen a spurt of development in the past few years. These luxury flats in Chennai range from posh sea-facing bungalows, beach houses and resorts. To many, this area offers a perfect blend of luxury and serenity, and many homebuyers do consider homes here as a means to unwind.
One of the oldest residential areas in Chennai, Nungambakkam is home to many educational institutions, commercial hubs, world-class hotels and government offices. As a part of the Central Business District in Chennai, the area has gradually evolved to become one of the top localities to live in.
A product of Chennai's explosive growth in recent years, OMR or Old Mahabalipuram Road is one of the most well-known suburban areas in the city. Home to many IT companies and Tech Parks, OMR real estate has seen a spurt in new residential properties as developers try to cater to the demand for luxury housing.
An area that's developed around the banks of the Adyar River, this locality is a wonderful mix of commercial properties & residential projects. With easy access to the beach and top-notch food and entertainment options, it’s no wonder that prices for new projects are quite high.
Recent years have witnessed an increasing trend of NRI investment in India. According to Liases Foras, a real estate research company, a major share of real estate investment in India comes from the UAE (20%), the US (18%), the UK (7%) and Canada (6%).
Chennai, the capital city of Tamil Nadu is considered one of the biggest cultural, educational, and economic centres in Southern India. The city was also ranked as the safest in India (105th place) as per Mercer's Quality of Living Survey 2019 which ensures a good living environment for the dwellers.