Overview of Luz, Chennai

Location and Appeal

Situated in the Mylapore area of Chennai, Luz stands out as a prestigious and desirable neighborhood. Known for its rich cultural heritage and vibrant community, Luz is also close to various amenities.

Property Prices

• Starting prices for properties in Luz range around Rs. 11,920 per square foot.
• Average properties cost roughly Rs. 16,355 per square foot.
• Top-tier properties can reach up to Rs. 22,123 per square foot.

Types of Properties

• Luz houses a mix of residential options, like apartments and independent houses.
• There's a variety, so you can find both budget-friendly and luxury listings.

Specific Property Examples

• Say, a 3 BHK flat in Luz Avenue. It’s around ₹4.75 crores for a 2500 square foot area. These homes often come with amenities like a gym, swimming pool, and full power backup.

Rental Options

• When renting, Luz offers various options too. For instance, a semi-furnished 2 BHK flat in Luz Golden Enclave is available for about ₹26,000 per month plus maintenance, with a ₹1.5 lakh deposit.

Market Trends

• The real estate market here, as also in broad Chennai, is picking up. We're looking at mild growth, a 5-7% rise in property values for 2024-25.
• The area benefits from projects like Chennai Metro Rail Phase II, improving connectivity and driving up property values.

Infrastructure and Amenities

• Luz enjoys good connectivity and continues working on infrastructure, making it attractive for both residents and investors.
• From gyms and swimming pools to reliable power, Luz promises a high quality of life.

Investment Potential

• Due to steady demand and a moderate price increase, Luz is good for real estate investment. The potential for long-term value growth, especially with infrastructure and economic recovery, makes it an appealing choice for investors.

PropertyWala's Conclusion

Luz, Chennai, charms with its strong property market, excellent connections, and high-quality amenities. With a predicted moderate price hike and advancing infrastructure, investing in real estate here is timely. Whether seeking a luxurious home or something more affordable, Luz provides a variety of options for different budgets and preferences.