ECR bids luxurious apartments in Chennai for IT employees

People who are employed in the IT hubs of OMR and in search of a home that qualifies to be named as a luxurious home? East Coast Road or ECR, as it is generally referred to as, seems to be an idyllic choice. Home buyers are frequently boggled by which area to select for easy commute from and to their offices.

Location continues to witness development of premium and luxury Properties for sale in chennai ECR Chennai which is aiding the essentials of High Net Worth (HNW) sector. In the past year, the area has reported price appreciation of about 10 %. There is an intrinsic demand for sea facing apartments and individual villas.

Even though, the Old Mahabalipuram Road (OMR) is busy with residential activity the region is facing an oversupply of residential units. Also, the housing list in OMR does not match the expectations of buyers who looking for a luxurious living.

Residential Development:

ECR is a luxurious residential area that has been recognized by builders and shareholders. In last 2-3 years lots of prominent real estate promoters and construction companies have thrown a series of luxury flats for sale in ECR. There are lots of top management experts working in this IT corridor.

However, most of the residential choices available provide to the lower and mid-income level. The largest size available is generally does not go beyond 1800 sq. ft. This is where the ECR looks to be a perfect option. Capital values are ranging from Rs. 7000 – 8000 per sq. ft. Therefore the luxurious and posh apartments for sale in ECR are available from 70 lakh and above, villas ranging from Rs. 2-6 crore.

The strategic position of Velachery-Tambaram road on ECR providing good connectivity to Velachery has appealed buyer’s interest. In the past year, this stretch has viewed price appreciation of approximately 10%. Property experts stated that this realty trend for apartments in ECR for sale will remain in the upcoming quarters. Maximum of the residential options which are looming in ECR continues in the luxury segment.

Easy accessibility to OMR guarantees hassle free travel to work places. The stretch is connected to OMR at Akkarai along with at Kovalam. Many residential developments are restricted till Kovalam. Regions outside this point are still growing this in turn impacts the demand for flats in ECR.

Premium locality:

The ECR is one and only the trendiest location which has developed as luxury residential corridor. It also has luxury resorts, restaurants, hotels, etc. Sea facing outlook and lack of space has pushed up prices of flats in ECR for sale. The luxurious villas available along ECR in a category of Rs. 1 crore to Rs. 7 crore are always grabs buyers interest.

Enhanced connectivity level, conveyance and other infrastructural actions have generated spurt in the upcoming residential projects in the ECR. Eyeing at the prevailing demand and supply quotient, it is anticipated that the submarket will continue to see optimistic trend in prices.