In Chennai Ever wanted to boast of a luxury address on your business card but find it unaffordable? Well, Magicbricks brings you property options in addresses close to premium areas, but at economical prices…
Near Poes Garden
Poes Garden is recognised as one of the most affluent residential addresses across India, as it is home to two most powerful personalities – Rajanikanth and Jayalalitha. However, if you are keen on living close to the area, then T Nagar and Alwarpet can be your choices. These localities are within a 5 km radius of where the rich Chennaites live.
Poes Garden is a locality where residential houses are available in a budget range of Rs 13-80 crore. While Alwarpet offers numerous multi-storey apartments within Rs 3 crore, T Nagar offers smaller properties at a starting price of Rs 50 lakh. Available options include flats and builder floor apartments.
“Residents living here have a dual advantage as they remain close to the city’s luxury pockets and don’t have to face the usual traffic jams and road blocks, unlike Poes Garden where round the clock tight security and restricted access to main road adds to the woes of buyers,” says Gitu Chandra Reddy, CEO, Accolade Home Options, one of the local brokerage firms active in the area.
Near Nungambakkam
Nungambakkam is a premium locality as it is home to several up-market offices, shopping complexes as well as institutions that employ some of the highly paid population of the city. If you desire to live close to this area, then places such as Chetpet, Choolaimedu and Kodambakkam can be your options for consideration.
Property offered here include builder floors as well as multi-storey apartments, available at a starting price of Rs 45 lakh in Choolaimedu and Rs 42 lakh in Kodambakkam.
However, if you want to invest in a bigger home, you need to pay at least Rs 70 lakh for an 800-1000 sq ft 2BHK flat in both these areas. Whereas, for a similar size home in Nungambakkam, you need to pay at least Rs 1.5 crore and can go up to Rs 4 crore for a 2BHK flat, depending upon the amenities and the profile of the building.
Although these areas share a common neighborhood with Chennai’s most expensive locality, but heavy traffic, especially during the peak hours, is a major shortfall for Choolaimedu. “Currently, limited access to the Kodambakkam Bridge because of maintenance work is causing problems for residents, moving towards Vadapalani,” says Krishan Varma, managing partner, Varma Associates and Solutions.
Living in a VIP area is an aspiration but while buying a house, it is advisable to look at your convenience. After all, it’s a matter of your home !!
Source: Times Property, Chennai/MagicBricks.com Bureau