The original tag
There are many prospective buyers looking to buy homes and flats in Chennai. Nowadays the luxury tag attached to a house can bring in many added expenses which the flat buyers are not aware of and many flat promoters in Chennai also fail to talk about the same.
Depending upon the luxury level of your house (imported finishing, latest technologies and state-of the-art interiors), the maintenance cost would vary from 8-50 per sq ft. By this standard, if your house is spread over 2,000 sq ft. The minimum you would have to spend on maintaining the look of your luxury house is close to Rs. 16,000 per month.
While finding the right location has been a problem for developers for quite some time, there are many projects happening right in the heart of the city, in areas such as T. Nagar, Kodambakkam, Adyar and Cathedral Garden Road. Essentially, luxury means that you will have ample living space. There are many property segments ranging from budget to luxury and many criteria define the same. In a house with luxury quotient, one should be careful and know what the future expenses from such luxury amenities will be. Some amenities might have recurring expenses which the buyer might not be well aware of. Luxury property necessarily comes with a host of other facilities, has ease of approach and itis technologically sound and ideally located.
It is the quality of the brand of tiles and finishing that are used or the way technology is optimally used for intelligent lighting, energy conservation and such high-end factors that define what luxury is. Not only do you buy luxury but to preserve it from depreciation over the years, one would need to put in extra effort to maintain it too.
Knowing the original price of the property we are purchasing is highly essential so that we are not disappointed at a later stage. Make sure that you are financially ready to invest in a property, keeping in mind all the future expenses also when there is a luxury tag attached it.