CHENNAI: Poes Garden and Boat Club Road in Chennai are among the 20 preferred upmarket residential hotspots in the top seven cities of India, according to a study by Jones Lang LaSalle.
The study says that elite home buyers prefer to have their nest in these localities, as they house the Who’s Who of the city.
The study states that Poes Garden, the elite colony where Chief Minister J Jayalalithaa and superstar Rajnikanth are residing, is one of the cleanest patches of Chennai. “Poes Garden is a VIP area, where many top notch business tycoons and politicians live besides the area has adequate general and social infrastructure,” the study states. The property rates in Poes Garden range between Rs 33,000 and Rs 35,000 per square feet, JLL study states. The study added that Boat Club Road, a calm locality located away from the hustle and bustle of the city, is also a preferred upmarket residential hotspot. “Homes here carry an affluence tag. With residential prices touching Rs 27,000 per square feet, Boat Club Road spreads across two square kilometres in South Chennai and is certainly the most aspired pincode, leaving even Poes Garden behind,” the study states. The study also says that the southern neighbourhoods of India’s primary cities have always been the poshest and most desirable locations for elite home buyers. “This phenomenon still continues. However, over the time, other areas are competing with these legacy locations and attracting younger noveau riche,” it said.