Residential
The Real Estate Landscape in Mount Road
September 11, 2024
Mount Road, also known as Anna Salai, is one of Chennai's most prominent and historical thoroughfares. It stretches from the Marina Beach area in the north to Guindy in the south, making it a vital artery connecting various key city areas. The strategic location, cultural heritage, and modern amenities make Mount Road, Chennai, a sought-after destination for homebuyers and real estate investors.
Current Real Estate Trends in Mount Road, Chennai
There has been a surge in real estate development on Mount Road due to the increasing demand for residential and commercial properties. The area is home to a mix of traditional and contemporary buildings that reflect Chennai’s architectural style. Current trends show a high preference for luxury apartments and premium apartments among professionals and families. They need modern living spaces with all the necessary amenities.
Given the location’s prime status, the rental price for Mount Road properties is competitive. The presence of multiple commercial establishments again boosts the demand for residential property. Additionally, proximity to Chennai Central Railway Station and excellent connectivity to other parts of the city further enhance its appeal.
Recent reports demonstrate that property prices for apartments in Mount Road have shown an upward trend. The average price per square foot has increased, with some sources reporting a rise of up to 90.4% for plots over the past year. The average price for properties in Mount Road ranges from ₹5,300 to ₹21,500 per sqft, depending on the type and location of the property.
Investment Opportunities on Mount Road, Chennai
Investing in real estate on Mount Road offers lucrative returns due to the area’s continuous growth and development. The high demand for Brigade apartments in Chennai and other new projects will make sure that properties appreciate over time. Investors can choose from various options, including BHK apartment configurations, duplex houses for sale in Chennai, and builder-floor units.
Residential Investments
Mount Road offers a range of residential property options, from 1 BHK flats to 3 BHK apartment units, accommodating different budget ranges and lifestyle preferences. The Brigade Icon project, for example, offers luxury apartments in Mount Road with modern amenities, availability of free private parking, and spacious living areas and dining areas.
Commercial Investments
The demand for office space and commercial properties on Mount Road is equally strong. The area’s central location and connectivity make it ideal for businesses with steady rental income for investors.
Rental Market
Mount Road is a prime location in Chennai. As an investor, you can demand more rent for flat units due to the area’s desirability and amenities. You can expect a good return on investment through rental income, mainly from premium residential projects like Brigade Icon in Chennai. However, note that rental prices can fluctuate based on factors such as market conditions, specific apartment features, and negotiation skills.
Best Residential Projects on Mount Road, Chennai
One of the premier luxury residential projects on Mount Road is the Brigade Icon. Developed by the renowned Brigade Group, this project offers a blend of culture and modernity, redefining the standards of residential lifestyle in Chennai.
Brigade Icon spans over five acres and features a range of meticulously designed apartments, including 1 BHK, 2 BHK, and 3 BHK configurations. Each unit has smart home automation and contemporary features, ensuring comfort and luxury.
Situated opposite Spencer Plaza, Brigade Icon in Mount Road, Chennai, benefits from its prime location. This area is known for its excellent connectivity, with easy access to major transportation hubs, including V House Bus Terminus, Mylapore Bus Terminus, and various metro stations. Educational institutions, healthcare facilities, shopping malls, and entertainment centers are nearby. This strategic positioning not only enhances the convenience of daily commuting but also enriches the lifestyle of its residents and accessibility for guests.
Brigade Icon is designed to elevate the living experience through a host of world-class amenities, including:
- Swimming Pool: A serene space for relaxation and leisure
- Fitness Center: A fully-equipped gym to cater to health enthusiasts
- Jogging Track: For fitness lovers who enjoy outdoor activities
- Kids Play Area: Safe and engaging spaces for children
- Community Spaces: Including a party hall and banquet area for social gatherings as well as an arts and crafts zone
- Landscaped Gardens: Providing lush greenery and a peaceful environment
The project also has safety and security features, such as CCTV surveillance, biometric access, and 24/7 security personnel for residents’ peace of mind.
The design philosophy focuses on creating a harmonious living environment that balances luxury with functionality. Moreover, luxury apartments at Brigade Icon are crafted with Vaastu principles to promote positive energy flow. Each unit has spacious layouts, airy ventilation, and high-quality finishes, including:
- Modern kitchens with branded fixtures
- Stylish bathrooms
- Ample storage space
Brigade Icon is committed to sustainable living, incorporating eco-friendly practices such as rainwater harvesting, energy-efficient systems, and waste management solutions. These initiatives minimize the environmental impact and promote a healthier lifestyle for residents.
Factors to Consider Before Investing on Mount Road, Chennai
You should consider the following factors when choosing apartments in Mount Road, Chennai:
Budget and Financial Planning
A clear budget and financial plan are essential before investing in a new property on Mount Road, Chennai.
Evaluate the cost of the property, including additional expenses such as maintenance fees, property taxes, and home loan interest rates.
Due Diligence and Property Inspection
Conduct thorough due diligence and inspect the property before making a purchase. Check the legal documentation, verify the builder’s credentials, and assess the construction quality for a sound investment.
Legal Considerations and Documentation
Make sure that all legal documents, such as the title deed, sale agreement, and property registration, are in order. Consulting with a legal expert or real estate agent can help avoid any future disputes or complications.
Future Growth Prospects in Mount Road, Chennai
Mount Road, Chennai, is expected to see the following:
Infrastructure Enhancements
The ongoing and planned infrastructure development is one of the primary catalysts for real estate growth in the Mount Road area. The expansion of the Chennai Metro Rail network, particularly with the second phase expected to be completed by 2025, will improve connectivity. It will also increase property values as accessibility improves, making the area more attractive to residential and commercial buyers. In addition, various road improvement projects, including the Mount Poonamallee Elevated Corridor and the Madhya Kailash junction flyover, will ease traffic congestion.
Economic Growth and Demographic Shifts
Chennai’s economic growth, particularly in the IT and automobile sectors, is another driving force behind the rising demand for real estate along Mount Road. The influx of professionals and students looking for housing will create a consistent demand for residential and commercial properties in the area. This will make it an attractive investment opportunity for developers and investors. Moreover, the trend towards duplex houses for sale in Chennai and integrated townships is reshaping consumer preferences.
Real Estate Market Outlook
Driven by the factors above, the real estate market in Chennai, including Mount Road, will likely witness a decent price appreciation over the next few years. This growth will be more sustainable than in previous years, reflecting a shift from rapid price hikes to a more stable market environment.
Conclusion
Mount Road stands out as a prime location for real estate investment in Chennai. Its strategic location, rich cultural heritage, and modern amenities make it an ideal choice for homebuyers and investors. Investing in a duplex apartment in Chennai offers a blend of comfort, style, and financial growth. With its vibrant urban setting and easy accessibility to key areas, Mount Road is set to remain a top real estate destination in Chennai.
Projects like Brigade Icon offer a glimpse into the future of residential living on Mount Road, combining luxury, convenience, and community living.
FAQs
1. Why invest in Mount Road, Chennai?
Investing in Mount Road, Chennai, offers numerous benefits, including excellent connectivity, high property appreciation, and a blend of cultural and modern living environments. The area’s strategic location provides continuous demand for residential and commercial properties, promising good returns on investment.
2. What is Mount Road famous for?
Mount Road is famous for its historical significance, vibrant commercial activities, and central location in Chennai. It is home to numerous business hubs, shopping centers, and entertainment venues, making it a bustling urban corridor.
3. What are the various entertainment hubs near Mount Road, Chennai?
Mount Road boasts a variety of entertainment hubs, including shopping centers, cinemas, and cultural venues. Popular spots like Spencer Plaza, Express Avenue Mall, and the Music Academy are easily accessible, offering residents ample options for leisure and recreation.
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