Penthouses are an extremely popular type of residential real estate today, especially in the wake of luxury real estate catching momentum, thanks to the rising income levels in the country. This blog will discuss what penthouses are and the advantages of buying a penthouse in Chennai. 

What Is A Penthouse?

A penthouse is part of the luxury residential real estate segment and is different from the usual apartments flats sell. Penthouses are often found in high-rise buildings that house luxury spaces. They are more spacious and comfortable residential spaces located on the topmost floor of an apartment.

A penthouse is considered a symbol of luxury and status and is usually built to perfection, with the finest of fittings and furnishings. Penthouses typically give out a very sophisticated feel and come with exclusive amenities within the apartment itself. Basic apartments are usually spread across just one floor, while penthouses come in two levels. In recent times, however, builders and real estate developers use the term penthouse in a broader sense to include any affluent property that comes with more opulent features and is considered high-end. 

This blog will briefly outline details on the rise in demand for luxury real estate in the country and discuss the advantages of buying a penthouse in Chennai.

The Rise In Demand For Luxury Real Estate In Chennai

The real estate market has revived since the pandemic began and is continuing to enjoy a bullish period. With that established, it is notable that the luxury real estate segment is also seeing great growth. A Times of India report has forecasted that the luxury housing market will see an upward trend in the coming year. 

Numbers speak louder than words – The same ToI article also added that 67% of individuals with a high net worth, also known as HNIs (High Networth Individuals), are looking to invest in luxury homes. With income levels on the rise across the country, the luxury segment of the real estate market is only expected to experience a surge in demand.  

Today, the buyers of real estate are constantly looking for something new and luxurious to invest in, especially when it comes to residential real estate. Given the growth in the luxury segment, the demand for luxury penthouses is on the rise. If you are planning on buying a penthouse in Chennai, you must be aware of the advantages of investing in one.

The next section will discuss the benefits of buying a penthouse in Chennai. 

7 Advantages Of Buying A Penthouse In Chennai

Chennai is one of the most popular real estate markets in the country, with a growing demand for residential and commercial real estate. Buying a penthouse in Chennai is definitely a solid investment decision.

According to Financial Express, Chennai has witnessed the maximum increase as real estate prices grow across the country, especially in the top 8 cities. The average rate of properties went through a 9% appreciation in the past year. 

If you are looking to buy a spacious, high-end home in the city, here are reasons why you should consider buying a penthouse in Chennai. 

1. More Space

Buying a penthouse in Chennai means more space. Penthouses are usually bigger in area than the other flats in residential apartments. As noted earlier, penthouses can also be two-floored apartments, while normal flats are usually spread across just one floor. Therefore, if you are looking to move into an exorbitantly larger space, you must consider investing in a penthouse. 

2. Lifestyle Upgrade

Penthouses are a part of the luxury segment of urban real estate. This means that you sign up for a luxury upgrade when you buy a penthouse. With exclusive amenities accessible only by penthouse owners, enhanced privacy, central location, and luxurious home set-up, buying a penthouse in Chennai equals a major lifestyle upgrade. 

3. Privacy 

One of the main drawbacks of an apartment is that each floor will have two or more apartments leading to a lack of privacy. This is where penthouses score well. Penthouses are located on the topmost floor of an apartment building. This means more privacy for the owner or people residing in the penthouse. 

4. Location Advantage

Penthouses are usually a part of high-rise, luxury apartments. It is more likely that these apartments are built by big names in the real estate industry and are located at the heart of the city. This gives the owner/resident a great location advantage as such projects offer easy access to all major hubs in and around the city. Therefore, buying a penthouse in Chennai in a prime location can be a great choice of investment.  

5. Exclusive Amenities

This is also one of the main advantages of buying a penthouse in Chennai. Penthouse owners usually stand apart in an apartment and have access to exclusive amenities that are unique just to penthouse owners. You can have a private terrace garden, a swimming pool, a barbeque space, a jacuzzi, or even a kitchen garden space and more in a penthouse. No other resident of the apartment will have access to these amenities that will be attached to your penthouse apartment. 

6. Status Symbol

As established earlier, penthouses are a part of the luxury real estate market segment. They represent opulence in every sense – right from fittings and furnishings, the structuring of the apartments, the unique amenities, and more – and have a certain affluent appeal to them. Your guests will be bowled over by the suave nature of your penthouse. Therefore, if you are considering buying a penthouse in Chennai, you are on the right track. 

7. Grand Views

The Chennai skyline is an absolute thing of beauty, and with penthouses located on the top floors of most apartments, you can wake up to the beauty of the city on a daily basis. Penthouses are usually open spaces, with tall french windows that comprise the walls and offer breathtaking views day and night. It is a feeling that descriptions or explanations cannot do justice to. Therefore, experience the feeling of buying a penthouse in Chennai. 

Home prices are on the rise! Buy now or never!

The cost of construction is rising, and that means home prices will go up too. The Hindu reports that construction costs have increased by 10% to 12% in the last year alone. So if you’re thinking of buying a home, now is the time to act!

These are some of the advantages of buying a penthouse in Chennai. If you are looking for a lifestyle upgrade, go for a penthouse in an apartment in the heart of the city.