Buy Chennai Commercial Properties

Buy Chennai Properties

Chennai is one among the simplest places in South India to measure in. the town possesses rich employment and business opportunities and conjointly supports the simplest living conditions. Folks from totally different components of the country continue flocking to the town on regular basis in search of jobs and resource. This creates a continual demand for the properties within the town. metropolis properties each residential and business properties square measure in most in demand particularly within the happening areas like OMR, Anna Nagar, Adyar wherever there square measure smart business and business developments. For those wanting to possess business or residential property during this Motor City town, the properties in metropolis is found in numerous formats and in numerous budget choices for a profitable assets investment in keeping with one wants.

Buy Chennai Residential Properties

the demand for metropolis residential properties goes on increasing day-by-day with increase in population of the town. The important estate developer’s square measure currently arising with totally different varieties of residential comes in numerous areas of the town to satisfy this increasing residential property demand. The metropolis residential properties are found in numerous formats and fall in various budget ranges. Therefore one can invest consistent with their alternative and requirements during a residential metropolis property. For people who will invest a lot of and square measure craving for luxurious properties within the town, bungalows, freelance homes, penthouses and freelance villas in metropolis square measure the simplest choices. These square measure unremarkably swish and opulent homes found in better of fashionable the trendy} specifications and options to support modern lifestyles. On the opposite hand the flats and flats be the vary of reasonable homes within the town and square measure the favorites of the typical financial gain sections of the society World Health Organization need to take a position in. The one BHK and a couple of BHK flats and flats square measure the foremost reasonable residential properties found within the town wherever because the three BHK and four BHK flats or flats square measure the luxurious homes normally found equipped with advanced facilities like vitreous tiles altogether rooms, wood floors in master suite, aluminum snippy windows, PVC door frames, standard room piece of furniture etc. These square measure trendy homes designed to supply most comfy and swish life vogue to the residents. The four BHK homes in metropolis square measure relatively costlier than the one and a couple of BHK homes square measure thus ideal decisions of investment for on top of average and made sections of the society wanting to possess a secure, secure and comfy range in the town. Metropolis townships square measure yet one more choices of luxurious residential ventures found within the town. Equipped with every kind of contemporary facilities and amenities and units like retail advanced, hospital and faculty inside field these square measure the self-contained units facilitating for every kind of basic wants of the residents inside the unit itself. Investment in metropolis administrative division is the simplest means of obtaining most assets investments as a result of this square measure the most well liked residential properties within the town.

Buy Chennai Commercial Properties

The IT and industrial developments taken place in recent years within the town have modified the face of business assets of metropolis. The business assets in metropolis have currently got a replacement look with entry of massive names within the assets of the town. Owing to efforts of those assets builders in metropolis, nowadays Brobdingnagian multi-storied looking malls and complexes, state-of-art business buildings and IT constructions have replaced the recent little native business stores, outlets and business areas within the town. The workplace areas in metropolis square measure the foremost demanded business properties that square measure found in most advanced specifications to best meet the wants of the business developers. On the opposite hand giant and neat looking malls are growing up in numerous locations of {the town the downtown} to supply the busy city residents a fast, exciting and simple looking expertise. The areas like OMR road, T.Nagar, Mylapore, Adyar in Southern, Anna nagar, Ashok Nagar, Manapakkam and Mogappair in Central metropolis square measure best familiar for the business developments within the town. For those wanting to take a position in metropolis properties, Pacifica offers the simplest choices.

Office rent cheapest in Chennai among big 4 metros

MNCs looking to set up a base of operations in India would do well to look at Chennai, as the city has the lowest office rental rates among any of the big 4 metros in India. But the city also witnessed faster appreciation in rental values during the year ended December 2012 vis-a-vis more expensive cities like Delhi and Mumbai, as per real estate consultant Jones Lang Lasalle’s latest “The Office Index” report. 

In terms of the capital value of property as well, Chennai was ranked lower than the other three big metros, making outright purchase of an office space a more feasible prospect.

According to the report, expansion by MNCs remained slow in India and China during the fourth quarter of 2012. The office market in general was in favour of landlords, but corporate occupiers have become increasingly reluctant to pay high rents. 

Consequently, rental growth is likely to be limited in most markets. But capital values are expected to increase faster than rent in many markets, supported by solid investor interest.

Tips to buy a resale property

DOCUMENTATION AND PROCEDURES:

All the documents that are applicable for a primary residential property sale would be required for a clear resale flat transaction, as well. The seller should be able to produce all original documents.

The buyer should establish the existence of a proper Society. The original sales deed and the Society share certificate are most important, since the transaction cannot proceed without them. Also, the buyer should bear in mind that in the case of a resale property , proper transfer and re-registration is necessary. The documents required for registration of residential flats, apart from the sale deed, include a letter from the society that reflects details such as the number of floors in the building, the construction year, the apartment's built-up area and the number of lifts in the building.

Also required is an assessment bill to the Society from the municipality in question, a NOC from the Collector if the building exists on Collector's land, a copy of the property card, and a receipt for the payment of registration fees. In addition, the buyer of a resale flat should ask for a clear ownership history if the residential property has changed hands before.
The local registrar will establish the authenticity of these documents. If one is buying the property via a home loan, the bank will run a routine due diligence .

ARE RESALE PROPERTIES ALWAYS CHEAPER?

Not necessarily. In the larger cities, new residential property supply is scarce or non-existent in many central locations. In such areas, there would not be a question of discounts on resale properties. Discounts are more prevalent in areas where the market is more competitive. That said, resale properties are sold either by the primary owners or by investors. As such, there is a higher possibility of flexibility in payment terms.

POINTS TO NOTE:

There are certain challenges that a buyer of a resale flat may face. This could include lack of proper chain of documentation, especially in cases where the property has changed hands more than a couple of times in the past. If the property is over 18-20 years old, it is possible that it was never formally registered in the first place. Registering it at the current point in time would put the onus of paying the stamp duty in arrears on the buyer.

There may also be additional expenses for repairs to masonry, plumbing , electrical wiring and fittings. Obtaining a home loan for a property which is anywhere close to 50 years of age can also be a challenge.

Finally, one should bear in mind that the Indian residential property market is in a constant state of evolution. One is unlikely to find the facilities and amenities that are available in the newer projects on the market in an older building.
Original source: articles.economictimes.indiatimes.com

India's Tallest Residential Towers

1) The Imperial Twin-Towers

Standing at a height of 833 feet (254 metres) the Imperial is one among the tallest residential building in India. This twin-tower residential skyscraper is located in Tardeo, South Mumbai. The Imperial was the tallest residential building in India till Palais Royale came up in June 2012. Besides, each apartment in this building offers outstanding view of the sea. The 4-bedroom apartments spans over nearly 3415 square feet of area couple with world-class amenities. Imperial is designed by Hafeez Contractor, a Mumbai-based architect and the project brought him appreciation and recognition.

2) Palais Royale

The luxury residential skyscraper Palais Royale is located in Lower Parel in Mumbai. It is a tallest skyscraper in Mumbai which is still lying under construction and is estimated to complete soon. This building is coming up on the land parcel which was formerly owned by Shree Ram Mills in Mumbai. 100 apartments spans over 8700 square feet and 14000 square feet of areas and coupled with world-class amenities. This super luxury residential space has a floor plate of 50,000 square and the premises include facilities like spa, cricket pitch, a cinema house, three swimming pools, badminton court, football pitch and so on. The total residential space of this building is around 88 lakh square feet and it is the first tallest skyscraper in the country that has obtained Leadership in Energy and Environmental Design Platinum rating for environmental sustainability. Besides, the architectural and conceptual design of this building is purely based on Vastu Shastra, the Indian form of Fen Shui.

3) Lodha Bellissimo

Standing at a height of 222 meters (728 feet), Lodha Bellissimo, the residential skyscraper topped out the list. This super luxury high-rise apartment is located in Mumbai with an expected floor count of 53 floors. This under construction project is likely to be completed by this year end. This 48-storied residential building is offering luxury at its best. Each apartment is packed up with finest amenities and stunning view of the sea and landscape.

4) Planet Godrej

 Residential tower Planet Godrej is one among the tallest buildings in the country. This tower is standing at a height of 181 metre and 51 floors high. Located in South Mumbai, this luxury residential tower spans over 9acres of beautiful landscape. Planet Godrej was designed by DP Architects, a Singapore-based prominent developer, who for this project, has bagged PINNACLE Award 2006, presented by Zee Business.

5) Antilia

The famous 400,000 square foot residential building, Antilia needs no introduction, it is as iconic as its owner. Antilia belongs to Indian billionaire Mukesh Ambani, the chairman of Reliance Industries. The palatial abode is the personal home of Mukesh Ambani and signifies luxury which offers world-class amenities under one single umbrella.

 Distinctive features that distinguish this house from the others include health spa, parking space for 168 cars, multiple swimming pools, a yoga studio, nine elevators in the lobby and a floor with vehicle maintenance facility. For entertainment, Antilia offers some of the few interesting features. This mansion has ice-room with man-made flurries exclusively designed for Ambani kids, nine elevators in the lobby, one floor of hanging gardens, 2-storey recreation center, ballroom, guest suites and theater with 50 seats.

Although, Antilia is 27-floor high, yet some ceilings are of double heights, it looks closer to the size of a 40-floor building. It is located in Altamount Road in Mumbai. Altamount Road is the second expensive locality in India, where the property prices touch sky.

6) Shreepati Arcade

Residential Tower Shreepati Arcade which was completed back in 2002 has made through the list of tallest residential skyscrapers in India. This tallest building is located in Mumbai’s Nana Chowk locality which lies in the city-centre. Shreepati Arcade is standing at a height of 153 metres (500 feet) and 45-floors high. Six high speed elevators are installed in the building which can reach at 45th floor within 35 seconds. Some of the distinctive features include automated fire safety system, sprinkler system, kitchen and main doors are about two hours fire rated and the building is earthquake resistant. Apart from basic amenities, the club house of this residential building includes gymnasium, sauna & Jacuzzi and so on. Surprisingly, the building has issued a strict rule for its residents where they cannot eat non-vegetarian foods within the building as residents have to be vegetarian.
Original source:siliconindia.com