Role of Community Based Luxury Living In Real Estate Industry

Significance of community based living:

In the ancient days, people were living in villages where they were living as communities named as village. Later on, when they desired to move to places with all the amenities and luxuries, they occupied independent homes with all the facilities in close proximity. This led to the development of bigger cities and towns. Recent trends in the real estate industry are the effect of the transformation of mindset of the people. Many people have started welcoming the recent real estate industry trend, which is nothing but the community based living of the olden days in today’s townships. This has led to the construction of many townships within the vicinity of the city so as to make the people commute to the cities with ease. The real estate promoters and builders also provide the green pollution-free environment in the townships by planting lot of trees and by providing vast landscapes. In some of the townships, the developers also take care to provide villas and penthouses which provide avenues for maintaining one’s own private garden. Living in a township not only improves our lifestyle, but also promotes integrity among various classes of people in the society.

Need for luxurious gated communities:

Due to the busy schedules during the week-days, people get only meager time to shop for their living. So they expect all these facilities to be available in their close vicinity. If all these facilities like shopping malls, hospitals, schools, etc. are found within their own townships, it would be really welcoming. People expect pure water to drink, power-back up facilities, lifts, car park, etc. for their comfortable living. At the same time people are also inclined towards the luxuries like spa, club, entertainment facilities, swimming pools, play area, crèche, etc. in their township itself. It is not all considered luxury these days, since living amidst all these luxuries have become inevitable for the working people to have a good relaxation during their weekends, which they deserve to.

Luxurious townships – boon for builders:

Builders always go with the mindset of the people. Since the builders are ready to provide almost all the facilities within the townships that they build, people are enthusiastic in occupying the homes in these townships which in turn helps in the promotion of homes in the township. On the whole the growth of the real estate business has fairly improved with the construction of gated townships with all the luxuries and amenities within the premises.

In spite of offering a growth to the real estate business, the gated townships constructed by the builders also take care to honor the artistic feeling of the people through the interest shown in the architectural design. Spacious homes in Chennai townships built with respect to humanity provide avenues for home interiors that have nowadays become a status symbol to most of the residents of the townships. Some people even opt for the homes in townships for their spacious living along with the desire to have unique home interiors. The noticeable architectural designs showcased in the townships, along with spacious living atmospheres and room for figuring out unique home interiors also form a positive aspect in the promotion of real estate business.

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Why this is the best time for NRI’s to buy a home in Chennai?

The depreciation of more than 25 per cent in the past eight months makes the rupee’s value fell from Rs 44 against one dollar in August 2011 to Rs 56.24 by May 31, 2012.

A non-resident Indian (NRI) will now get at least Rs 10,000 more for every 1000 us dollars they are spending in India than 2011.  And if anyone had doubts about Chennai being a boom city, the National housing Bank’s   Residex index, which has been tracking home prices in different parts of the country since 2007, puts them to rest as the home price index for Chennai leapt up 39.5per cent in the last quarter

Real estate projects catering to upper middle class and luxury apartments and villas are available in plenty at the market.

This is a great opportunity to generate new investment opportunities in Chennai.

Advantages of buying an under construction home in Chennai

Buying an under construction home is a win-win situation for both buyer and seller. The seller gets a list of customers even before he starts laying the foundation while buyers get the cost benefit as they are buying the house in a pre-launch offer.

Buying an under-construction home is cheaper than buying the ready to move home in chennai. The cost difference is significant. On an average, the difference is anywhere between 25% and 40%. This is a big difference and that makes the majority of the home buyers in Chennai to buy a home under construction.

The EMI is paid as the work progresses hence the initial EMIs are low in the case of an under construction home in Chennai.

If there are any minor changes that you want in your home, it is possible (this depends with the builders in Chennai)

The home buyers may get higher returns on the under-construction home, since the prices are lower, This kind of return is not possible in a ready to move home in chennai.