The Real Estate scene of Chennai is dominated by the presence of high quality apartment properties.
An 'Apartment' is a a self contained housing unit that occupies part of a residential building. An apartment can be rented or owned by the occupant.
Apartments in Chennai are classified by the number of bedrooms in the concerned apartment. The smallest apartment consist of a one bedroom-which is separate from the rest of the apartment. The bigger size apartments consist of two bedrooms, three bedrooms and more.
Small apartments may have only one entrance/exit. The bigger apartments may have separate service entrances or exits. Apartments may also be offered furnished or unfurnished i.e with furniture or without furniture. In the case of unfurnished apartments the tenant shall spend his own money to buy essential furniture and other creature comforts.
The prices of Apartments in Chennai are increasing every year. The increase in apartment prices is calculated to be approximately 15% over the last two years.
Chennai has an unique real estate product for prospective customers- the 'Serviced' apartment. The Serviced apartments are ideal for short stay visitors to Chennai. A serviced apartment is a practical alternative to hotel rooms which have prohibitive pricing for long stays. Serviced apartments are ideal for executives who have come to Chennai for a training programme or medical patients who need to stay in the city for a month or two.
A decent apartment in Chennai shall cost the buyer a neat packet of money; the asking price of an apartment in a posh area like Nungambakkam costs a cool Rs. 4.25 crores.
Last Updated on 11/2/2011
