Real estate in Chennai

Vaasthu Shastra, the Science of the structure, dimensions and alignment of dwelling places or workplaces, is a key word in the Real estate scenario in Chennai. The word Vaasthu in Sanskrit, means 'dwelling'. ('Shastra' means 'Science').It deals with details such as measurement, shape, direction and nature of the soil, in the construction of buildings.

It was supposed to have developed in the period of 6,000 B.C to 3,000 B.C. In those days, Sthapathis (architect-engineers) were the specialists in this science. Individual houses, public halls, palaces and temples were constructed strictly as per Vaasthu principles, also known as Agama Shastra in ancient India. Now, in the new millennium, most of the builders in the city say that they still follow the rules of Vaasthu. In both residential and commercial ventures, Vaasthu plays an important role. So commercial or residential, Vaasthu-approved constructions still make a decisive difference

Real estate in Chennai's inner city is too costly for most citizens. So large sections of aspiring house or apartment owners are moving towards the suburban pockets.Enter any property fair in Chennai. A league of small and medium scale builders and promoters that works and builds in the suburbs, catering to the middle class, is seen participating prominently. Ask the builders and the answer is nearly the same every time. Any functionally useful apartment in the city costs Rs.25 lakhs or more. And if one is looking for a comfortable 1200 or 1300 sq.ft flat, the cost is an astronomical Rs.3,500 a sq. ft or more. And to think that most parts of the city have very little in terms of ground water, pollution free environment and a quite locale.

So for those who are conscious of their purse and credit limit, but still want a decent space to live in, the alternative is only moving to the suburbs. Pallavaram, Chromepet and Tambaram on the south, in pockets along the Old Mahabalipuram Road, the western fringes of Ambattur, Poonamallee, Porur or Kundrathur... they all look like boomtowns. Actually, the origins of this tale dwell in the early 90s when apartment living took roots in Chennai. And the sudden upsurge in the flat prices within the city in the past two-three years is forcing the residents to move away from the congested and water starved locations to relatively more peaceful and calmer atmospheres.

And the boom...

Why this boom? Is this sustainable? These questions demand an answer. Flat promotion boom since 1993 has been good for the builders. Doubts remains as to whether this trend can be sustained for long as the prices of flats have already touched a peak. Also, the fast-paced growth of IT industries in suburban areas may force a reversal of the trend of people moving towards suburbs. In Madipakkam, apartment prices have touched Rs.1,000 a sq. ft and they are already moving towards Rs.1,200 a sq. ft. or even Rs. 1,300 depending upon the builder and the area. Nanganallur is another suburban area that is already saturated with flats where the price ranges from Rs.1, 400 per sq. ft. According to him, Madipakkam has a very good market future as it has a very easy access to the city and water availability.

The ground water level at suburban areas may have dropped but are not that bad when compared to some of the areas in the city,Chromepet and East Tambaram may see a spurt in real estate activities in the near future. And the rates differ when people prefer to stay away from railway stations. The rates have touched Rs.1,100 per sq.ft. in Chromepet while it comes down to Rs.900 in the surrounding areas.

The Builders Association of India, Southern Centre, Chairman, T. Moorthy has another reason to offer. The big names in the business have moved to infrastructure projects including major IT parks. Some others have gone in for constructing major townships. The next level of medium scale players in the industry too will find it unsustainable to carry on in the city and naturally move to the southern and western fringes.

More townships ….

North of Chennai is still not exactly a boomtown, notes Moorthy. But now seeing the growth levels, even big players are coming back, says another builder, who points to the series of townships that are coming in Pallavaram, Tambaram, Urapakkam, Sembakkam, Medavakkam, Madipakkam, Rajakilpakkam, Perungalathur and Vandalur, in the south, and Kundrathur, Ambattur, Mogappair and Valsaravakkam to the West. These townships have hundreds of apartments / houses each within a locality and they are self-contained for civic infrastructure.

Builders say the movement now is towards Mahindra City (Maraimalai Nagar), and northwest from Tambaram along the Padappai - Kancheepuram Road. Blessed with copious ground water, the lands here cost Rs.30 lakhs or more for an acre. This gives a feeling that it is the middle class who are moving to the suburbs, while those who earn fancy salaries in IT companies continue to live in the city and commute long distances to work everyday.
A more comprehensive, integrated development, especially to provide for good living space and social infrastructure such as quality schools and entertainment spots is required to attract the upwardly mobile crowd to the suburbs. But before that, the land price regulation may quite be needed, noting that the government issuing a notification under the Land Acquisition Act for lands in Siruseri, could help the control of price boom, so that the growth levels are sustained for long term.

Before you hire an architect, look at some of his/her work.

Inspect the site of his/her projects personally and take references from at least
three former clients.

Find out exactly what services the architect or the firm can offer and take it down in writing.

Do not judge the architect by the fee charged, either high or low. An architect can help minimise your cost. Visit the architect's office during the course of work, which will help you assess
the progress.

Trust the architect you hire, but keep all agreements in writing.

Why consult an Architect?

An architect is aware of all the elements of building like aesthetics and structure, engineering plumbing, electricity, etc.

An architect can co-ordinate the activities of different tradesmen involved in building, like plumbers, electricians, carpenters, etc., so that they perfom their functions in the right sequence.

The architect is well versed with functional aspects like placing the plug points, ventilators, etc., and can work according to your needs. If your family has short people, it won't help to have switches placed high on the wall.

If you are not careful in hiring a reputed contractor, he may leave with you only a skeletal workforce, once 70% of the construction is complete. An architect can guide your payments to the contractor, so the work is completed accurately, within the time frame.

An architect can help schedule operating costs.

What should you look for in an Interior Decorator?

When you hire an interior decorator for your home or office, here are a few things to keep in mind:
Check the firm's credentials.

Check the interior decor of their own office, it will give you a fair idea of what they can deliver.

Talk to the firm's previous clients, inspect some of their earlier work to check on the quality of materials used and timely completion.

Take the quotation, bill of material and drawings in advance and make sure all agreements are in writing.

A fairly large architect's firm can also provide interior decor services. If you hire such a reputed firm, you can be assured of quality work.