Chennai has been witnessing a real estate boom just like its counterpart metro cities. Reasons are clear, the ever-increasing population count and the improving infrastructure and economy. It also houses several automobile and software companies, which make it more populated. The apartment culture has gripped the entire nation and Chennai is no exception! The apartment and flats have become a vogue in Chennai as when it comes to a home, everything seeks nothing but the best.
There were days when a bungalow was an epitome of wealth and luxury. People longed to own a bungalow and if they failed to build one, they settled for a smaller independent house. Today, the scenario has changed altogether. Even the rich and affluent classes prefer living in an apartment or flat. The apartment culture is catching on because it has several advantages over an independent house or a bungalow. Many a people now think of apartments as an ideal option. Apart from an array of facilities in apartments—for example, parking, 24-hour security, water and power back-up, playgrounds, trendy interiors, LPG connections, health club, intercoms—they offer an easy option for vacations wherein you can simply lock them up and enjoy a long vacation without any fear of theft. Whether you face a problem with your bathroom tap or some electricity problem, you just need to inform your security guard to send the plumber or the electrician to fix it up. Can it get better than this? Had it been your bungalow or an independent house, you would have to run around and get things fixed. So we can clearly see the difference! Many such small-small things give you big enough benefits of living in an apartment. The apartments or flats are pretty cost-effective as well in comparison to the independent houses or bungalows. Last, but not the least the main reason for the apartment or flat culture to flourish so rapidly is because land is a limited natural resource and to utilize each and every inch of land in the best possible manner there can be nothing better than living in an apartment. Thus, scarcity of land can be only compensated with building more and more apartments to meet the rising demand for residential plots. The demand for residential properties has also soared high due to the increasing rents. Not just the government authorities, but private builders have stepped ahead to provide comfortable and affordable housing in the form of apartments and flats.
The prices of the apartments and flats equipped with superfluous amenities depend on their location and the extent of facilities provided. You get an easy access to the ultra-modern amenities the day you own your apartment. Depending on the requirement you can purchase a 1, 2 or 3 bedroom apartment. For larger families there are more options available. With the prices of land going out of reach of the common man apartments and flats seems the only way out. The government of Chennai has also had a role to play in initiating the township culture which eventually led to the so called apartment culture of today.
Chennai Metropolitan Development Authority was founded in the year 1971 for a structured planning of the city of Chennai. CMDA works with an objective of developing Chennai for a better future. This government entity took the initiative to launch the development activities of metropolitan regions (28 town panchayats, 306 villages & eight municipalities) of Chennai on a large scale. CMDA works in collaboration with various property consultants to frame well-organized development policies. The residential project from Vandalur to Minjur on the outside of the ring road is one such project undertaken by CMDA. The First Master Plan drawn by CMDA included building housing projects on a mass scale by obtaining around 12,000 hectares of land in the urban nodes (Avadi, Alandur, Minjur, Tambaram, Ambattur and Manali) and in satellite towns (Thiruvallur, Maramalai Nagar and Gummidipoondi). The second Master plan has made it a mandate for the private builders to set aside some land for constructing houses for the weaker sections as well as lower income groups of the society. CMDA also developed land maps and their current usage patterns to formulate new development projects for the city. The government has thus joined hands with several private builders to come up with an affordable housing option and encourage building apartments and flats in Chennai.
The desires of the middle class to dab their life with a little luxury and comfort were met with the classy apartments and flats. The easy availability of finance as an option from several banks has made it even simpler to upgrade the lifestyles. The influential classes, however, got another opportunity to entertain themselves with the new concept and add a little more luxury to their already luxurious lives. Whatever is the case, apartments and flats ease the pressure on land by accommodating many lives under one combined roof, so do you want to aide the cause of relieving Mother Earth from the undue pressure (when you can actually afford to) or be happy building another independent house?
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