It is believed that ‘Vaastu Shastra’ plays a vital role when it comes to buying a house. But for Chennai’s billionaires, ‘Vaastu’ apart, tailored luxury addresses and pin codes are what matter most.
For instance, Boat Club, a part of R.A. Puram (Chennai–600 028), Poes Garden, part of Teynampet (Chennai–600 018) and Rutland Gate in Nungambakkam (Chennai–600 034) are the places most sought after by the elite in the city.
“Some of these pin codes include many other places in the region apart from these specific prime areas. Having said that, living in these areas does matter to the city’s elite,” says Sarita Hunt, managing director–Chennai and Coimbatore, Jones Lang LaSalle India.
Diplomats, corporate honchos, filmstars and sportspersons are among the who’s who of the city looking for property acquisitions in these areas.
Currently, the core of Boat Club, Poes Garden and Rutland Gate has virtually no space for further development. As a result, areas around the core are now developing as an extension to these elite spots.
“The brand value of a ‘nearby-pin code area’ is also gaining prominence. Many developers pitch property saying it is ‘near Boat Club’, and the hence the price is high,” says Ajit Chordia, president, Confederation of Real Estate Developers’ Association of India–Chennai Chapter.
