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IREF® - Indian Real Estate Forum > Real Estate in India > Real Estate Chennai > Best Luxury Apt Buildings
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Old April 29 2012, 03:08 PM   #1
k11 is offline k11
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Default Best Luxury Apt Buildings

I know a lot of folks are interested to see which Apts have the best features and amenities in the city and the suburbs.

I came across couple of DLF projects Aralias and Magnolia in Gurgaon. They are fantastic and have world class amenities. IREO also is building an awesome project there. Lots of builders in NCR and Bombay are offering amazing buildings with great amenities. Unfortunately there are not lot of these type of high end apts in our city and extremely rare in suburbs.

Lets list and rank the best buildings in the city under development. I am listing few, feel free to add your sugestions and your rankings.

Affordabilty, Location, value for money or price per sqft does not matter. Only Amenities, features and special architechtural details matter. Building should have atleast 10 units.

It is more like 'If you had a gazillion rupees, where will you live?'


Here is my list, ranked with what I read.

1. Olympia Opaline SkyVilla (Sea view, Plunge pool in every unit, best in the list by far)
2. Landmark Vertica (automated carpark, biggest 2bhks)
3. VijayShanthi Art
4. DLF Commander's Court
5. Hiranandani Upscale Oceanic (amenities not great but tallest building w/ best sea view)


Prince Coutryard and Akshaya 36 carat are ok but there is nothing special about them. They do not belong here.
I cannot think of any other good projects to put in here.
 
Old April 29 2012, 09:56 PM   #2
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Could you list the approx sqft prices of these lux apts ?
 
Old April 30 2012, 01:29 AM   #3
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The focus is not on prices, but lack of interest from builders to put in effort to create truly luxury complexes. I am sure there might be lot of customers - executives, movie stars, sports personel, businessmen.

But for your info, they range from 2.5C at Hira to 12C at Vijayshanthi Art. Some of them are by invitation only and might be sold out now.

Kingfisher Towers - JV between Prestige & Mallaya could be another world class building in Bangalore.
 
Old April 30 2012, 09:42 AM   #4
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How about Ozone Chennai Metro Zone at Thirumangalam next to Anna Nagar? The township includes WI-FI access, Home theater conduits, automatic 5 KVA power backup, Meditation garden and jogging track, Basketball, squash, tennis and badminton courts, exclusive cricket pitch, Billiards, table tennis, multiplex and food court, 24-hours purified water, Round-the-clock security, Comprehensive round-the-clock maintenance, and super market, Clubhouse of international standards (62,000 Sq. ft.), 5 Swimming pools (including one exclusively for women and two for children), power backup for each unit, Play areas for children, Multiplex and multi-cuisine food court.
Base price starts from 1.25 Cr.
 
Old April 30 2012, 11:16 AM   #5
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Quote:
Originally Posted by arunkrishnan View Post
How about Ozone Chennai Metro Zone at Thirumangalam next to Anna Nagar?
Look up Metro Zone threads in this site for horror stories. Don't know what's the current status though, with all those legal issues. I wonder why any one who can spend that sort of money, like over 5 Cr, would even go for an apartment!!
 
Old April 30 2012, 08:51 PM   #6
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Sorry, Ozone does not belong here too.
It is just a mass housing complex like any other township.

Guys, the master bath itself in the projects I listed are like a size of a bedroom.

And also, If I am a movie star or a sports person, why would I want to share a swimming pool with 5000 people.

Olympia has a seperate pool, gym and club facilities for their luxury building.
They also have a huge pool and other facilities for their mass housing customers.

Apartments are the way to go. You cannot build a truly luxury home equivalent to the apartments listed for 5 crores or even 10 crores. An Infinity swimming pool would cost around a crore rupees. Gym is 10% FSI in apartments. In Individual houses, it is 100%. So it will cost few laks to crores if you have one in a independent house. Even Sachin is fighting with Mumbai corporation to get one. As 'Rajnikant' says, you can be considered a rich man only if you have a garden in your bunglow. I am not a fan but agree with him. Lobby, gardener, watchman, receptionist, fitness trainer, maintanance personell costs thousands to laks of rupees to maintain every month.

Also, maintainance cost of any luxury building would cost 10-25K per month.
 
Old May 2 2012, 02:03 AM   #7
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Quote:
Originally Posted by k11 View Post
Sorry, Ozone does not belong here too.
It is just a mass housing complex like any other township.

Guys, the master bath itself in the projects I listed are like a size of a bedroom.

And also, If I am a movie star or a sports person, why would I want to share a swimming pool with 5000 people.

Olympia has a seperate pool, gym and club facilities for their luxury building.
They also have a huge pool and other facilities for their mass housing customers.

Apartments are the way to go. You cannot build a truly luxury home equivalent to the apartments listed for 5 crores or even 10 crores. An Infinity swimming pool would cost around a crore rupees. Gym is 10% FSI in apartments. In Individual houses, it is 100%. So it will cost few laks to crores if you have one in a independent house. Even Sachin is fighting with Mumbai corporation to get one. As 'Rajnikant' says, you can be considered a rich man only if you have a garden in your bunglow. I am not a fan but agree with him. Lobby, gardener, watchman, receptionist, fitness trainer, maintanance personell costs thousands to laks of rupees to maintain every month.

Also, maintainance cost of any luxury building would cost 10-25K per month.

Hi k11,

Have been reading all your posts.Thanks for all your contributions.

Coming to the topic.The concept of premium high rise apartments are still catching up in chennai. We dont have many such projects to boast of like Mumbai and other place. The reason could be prices have not sky rocketed as much like in mumbai etc. Cash rich parties can still own a bungalow in 2+ grounds easily within the city.For all the amneties you are saying, there are five star hotels and health clubs where they can frequent.

Arihant's North Town project for instance has one full tower for a particular community. All was sold out and wasnt even advertised.

Last month I had visited an acquitance who lives in boat club, while talking he was casually commenting that the area used to be very private and peaceful.but now, modern slums have started to encroach the place. He was referring to the apartments being constructed nearby.It may seem insensitive, but in India if you have money, one can afford to be arrogant and demanding.

The point I am trying to drive is people who have so much money dont bother to co-exist with others, all they want is exclusivity. Whoever can sell them that, they will pay anything for it.

Most Premium projects never get advertised, its launched as completely sold. They have exclusive clientele and offered by invitation.In my opinion ameneties alone doesnt make it attractive.Its the neighbourhood which sells.

Almost all premium projects have one flat per floor concept, with average 2000 sqft+ builtup and priced upward 15k+/sqft.

Apart from the builders you have listed, some of my favourites are below.

Chaitanya builders - check out their Summit in shashtri nagar, It was going for 10K/sqft last year
Vishranthi builders - They are not into high rises, but are one of the few builders who build in posh locations like poes garden, boat club etc.

Their apartments and villas exudes premium in every aspect.
themefinder likes this.
 
Old May 2 2012, 03:09 AM   #8
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Thanks, Naibshek. There are lot of small builders who have built good complexes in the past. Vishranthi - Swaroop Heritage in Poes Garden is a good example. It was good for 2005 standards but not upto today's bar. We are now competeting with Shanghai/Hong Kong/San Paulo.

Times have changed. Location is important but for a select set of customers, amenities and lifestyle are more important.

People travel all over the world, now want branded residences such as Ritz Carlton, Trump, etc. Even for someone who stayed in NCR or Mumbai would like to maintain the same lifestyle will find shortage of quality buildings in Madras.

My point is luxury living has caught up in south india. But the builders have not caught up with the demand. Madras is way behind NCR.

There are some people who do not care a lot about location. An 50 yr old Industrialist might want to stay in 25cr bunglow in boat club but a 25 yr old upcoming movie actor who has a budget of 7cr might not like a crummy apt in boat club, for them a fancy swimmming pool and a spa is more important. There is a market for both.

Commander-in-Chief road, Egmore is not a boat club or poes garden, but when DLFs project is complete. It will be an attractive place just because of amenities. Olympia is 40km away from city but you will not miss the five star hotel you frequent.

Builders always make money on land value and loading but do not make money on brand. They cheap out on contruction materials and want to compete on sqft rates. Very few build world class faciltites. Luxury projects are hard to make money so many builders avoid it. Low end is where they make money.

Let's say, if there is a Ritz Carlton building on Guindy and they price it at 20K per sqft (way above mkt avg), there will be people to buy it just becoz of brand. When it is a truly luxury building people pay. You will never get such a big parcels of land in boat club or other streets. So builders have to venture out and use the large parcels efficiently. You need 20-30 grounds to build a large luxury project at minimum.
 
Old May 7 2012, 11:15 PM   #9
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Here are some pics of Olympia building.
https://picasaweb.google.com/1092778...ILLAMODELAPPT#

 
Amazing seaview from Hira building in Madras.
https://plus.google.com/photos/10632...56902530564722
 
Old June 12 2012, 10:31 PM   #10
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Another project to be mentioned is Archean's Add Albatross.

It is not a luxury building but a mid level project. Amenities are very ordinary. Floor plans are also too small.

I would like to mention in the list just because of its height. Tallest building in Chennai does deserve some recognition.

Did anyone book on the 50 floor tower?

I heard Hira introduced a new line of building called 'Horizon' in their Bangalore project for their upmarket clientele. Separate gym, pool, club ,etc. also heard they will do something similar for their Seagull building in OMR, but do not see anything concrete.
 
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