As Chennai’s economy continues to grow, the affluence factor is on the rise for many of the city’s residents. An evidence of this can be seen in the increased demand for luxury homes in Chennai. With more money to spend, people are looking to upgrade their lifestyle to the next level. Luxury homes are designed for the utmost comfort and they provide access to world-class amenities, which make life truly enjoyable. Investing in a luxury home can also provide good returns in the long term. However, these benefits will be available only when you find the right property. To help you in your search, here’s a guide to find a suitable luxury home in Chennai.
- Find the right location: First and foremost, you need to decide which locality in Chennai would be most suitable for you. For example, if you work in an office or own a business, you would want to have the luxury home to be near to your place of work. In case you are buying a luxury home for investment purpose, you need to choose a locality that can offer good value appreciation and rental income. The choice of location may also depend on your specific needs. For example, you may want a luxury home overlooking the sea or alongside a lake. You may want your luxury home to be close to the airport or accessible via major roads and highways. You have to identify your priorities and finalize the location accordingly.
- Check social infrastructure: Availability of social infrastructure is another important thing to consider when you are in the process of finding a suitable luxury home in Chennai. For example, if you have kids or are planning to start a family, you would want to have good schools located in the neighborhood. Similarly, you may want your home to be in proximity to other facilities such as hospitals, shopping malls, entertainment centers, fine-dining restaurants, bars/pubs, etc.
- Engage your social network: The beautifully designed advertisement on the billboard may catch your attention, but nothing beats the reliability of inputs provided by your close friends and associates. You can seek their inputs regarding which area would be most suitable for buying a luxury home in Chennai. They may also recommend some good luxury projects in the city. Based on the inputs, you can do your own research about the localities and the projects. If you are okay with it, you can also post your requirement on social media platforms such as Facebook.
- Evaluate luxury home projects: Once you have finalized the location, start looking for luxury homes in that area. You may have to physically visit multiple project sites to identify which one is the most suitable for you. Site photos and videos may be useful, but they cannot be a replacement for physically verifying the project details. You essentially need to get good vibes to be able to choose your luxury home. Everything from the design of the house, to the architecture and layout of the project and the neighborhood itself should appeal to your senses.
- Under construction or ready-to-move-in homes: You will have the option to choose between under-construction and ready-to-move-in homes. Both have their advantages and disadvantages, so look into those before proceeding. For example, under construction homes usually cost less, as compared to ready-to-move-in homes. However, some people prefer ready-to-move-in homes, as they can really see what they are getting. Ready-to-move-in homes may also be appropriate if you need a house on an urgent basis. However, if you want some customization in your luxury home, it would be appropriate to choose anunder construction project. Similarly, there are other pros and cons of under construction and ready-to-move-in homes that you need to evaluate.
- Check builder reputation: Do some research to find out the track record of the builder. You can read reviews provided by verified homebuyers in a specific project. If possible, you can personally interact with homebuyers who have purchased properties in the project you are evaluating. You have to interact with several people to be able to get a precise picture about the builder and the project. Some inputs and feedback are bound to be biased, which is why you need to interact with as many people as possible.
- Check legal status: The last thing you would want is to find out that your luxury home is located on illegal land. There can be other types of legal issues as well with the project. To ensure that everything is being done in accordance with law, you need to verify the land and project documents. You can hire the services of a lawyer, if you are not sure about legal matters. You can also check with local municipal authorities to ensure that the project is approved and has provision for water supply, sewerage systems and waste disposal.
- Parking slots: If you own multiple vehicles or if you are expecting guests on a regular basis, you need to make sure that the luxury home has the required number of parking slots. Visitor parking area should also be available nearby, so that you and your guests are not hassled during special events such as anniversaries, birthday parties, New Year celebrations, etc.
- Explore the neighborhood: In addition to visiting the project site, you also need to explore the neighborhood. You need to do this to ensure that the project is located in a good neighborhood. You need to check for things like slums, hazardous industries, waste dumping grounds, unauthorized construction activities, etc. If any of these are located in the vicinity, you may have to choose a different project. When exploring the neighborhood, you can also check for available green cover and the level of pollution in the area. A luxury home project in a peaceful, safe, clean and green neighborhoodwould be most appropriate for you and your loved ones.
- Check connectivity: It’s good if the luxury home project is located at a fair distance from the main roads and highways. This will keep you protected from air and noise pollution. However, make sure that the project is properly connected to the main roads/highways. If it’s just a dirt road and there’s no certainly about its development timeline, you may have to rethink your decision for buying a luxury home in that project. If the connecting road is not a proper road, you can check with the builder or local municipal authorities regarding its development plan.
- Check amenities: Make a list of all the amenities you need. The must-haves would include gym, swimming pool, club house, jogging track, community hall, children’s play area, and indoor & outdoor sports. You may also be interested in things like concierge services, in-house spa & yoga, coffee shop, mini theater, library, dog park, Wi-Fi, electric vehicle charging stations, rooftop lounge, fire pits/barbeque, etc.
Chennai’s economy is expected to grow further in the coming years, something that will boost real estate development in the city. This implies that the value of your luxury home will continue to increase over the years. You can choose to live in your luxury home or give it out on rent. Make sure that you consider the above factors, so that you can find the most appropriate luxury home. The right luxury home in Chennai should suit your lifestyle and have the amenities that you and your loved ones desire.