Ultra Premium Apartments in Chennai

The sky-high real estate prices don’t seem to be acting as a dampener for high-end residential properties in Chennai.

Actress Hema Malini has sent the real estate prices soaring in the city she hails from. A big-time builder has signed up with her to build six apartments on a 14,400 sq ft plot owned by her in the posh Poes Garden area of the city.

Each flat, when ready, will come for a staggering Rs 6 crore. [Link]

With most of the demand being fuelled by the IT / ITES sector, the IT corridor is a natural choice for big budget housing projects.

Now, Vijay Shanthi is coming up with a bigger project - apartments that will cost Rs. 8 crore each.

Another of their project is Club Cabana along the I.T corridor. A small community of 18 exclusively-styled villas that will cost Rs.1.25 crore each.

The project is to come up on a four-acre plot will have only 10 per cent built up area and the rest 90 per cent, a green spread.

Residents will have to park their cars near the gate and either walk, or bike or golf cart their way home through the greenery. [Link]

If the current trend continues, affordable housing might be a thing of the past.