1 BHK Flats for Rent in Chennai - 425+ 1BHK Flats (2023)

FAQs

Should I buy 1bhk flat? ›

Good investment option: buying a 1 BHK is a good investment option if the unit is put on for rent. Usually, students, bachelors, young couples prefer 1 BHK flats due to pocket friendly rentals, easy to maintain and also low maintenance costs.

BHK stands for 'Bedroom, Hall, and Kitchen'. It is a typical housing unit in a multi-storeyed apartment complex. 1 BHK, 2 BHK, 3 BHK, and 4 BHK are some of the home's common types of BHK configurations. A 1 BHK apartment typically includes one Bedroom, one Hall (living room), and one Kitchen.

It is used to convey the number of rooms in a property. For example, a 2BHK means that the particular property has two bedrooms, one hall and a kitchen. A 1 BHK means that the property has one bedroom, one hall and a kitchen. 3BHK means there are three bedrooms, a hall and a single kitchen in the property.

Is it cheaper to buy or rent your home in London? In the short term, it is often cheaper to rent in London. This is because the rent you pay is likely to be lower than your mortgage repayments, and the deposit on a rental property is significantly less than the initial costs of buying a home.

Property prices will vary depending on the area you're buying, but if you're looking at flats and houses in the same area, it's likely that a flat is going to be the cheaper option.

For comfortable living in Chennai, one should earn a monthly salary of around Rs 30,000 to Rs 50,000.

Flat vs House: Additional Facilities

A flat comes with additional services such as water, electricity, and security. Although they come at an additional cost of 2-5 per cent of the purchase price, we can't deny how convenient it is to have it taken care of right away when we move in.

What is the difference between apartment and flat? ›

The flat is a British English term, whereas Apartment is an American English term. A Flat has one storey most times, and an Apartment can be multi-storeyed. A flat sometimes refers to low/middle-class accommodation, while an apartment refers to luxurious and refined living.

Because the market for 2 BHK homes usually has more demand, so builders pay special attention to property design and construction. As a result, 2 BHK properties offer better amenities and design options. Thus, on average, you will find a more expansive and better quality 2 BHK property than its 1 BHK counterparts.

While the number of bathrooms could vary, the full form of BHK signifies the number of bedrooms, hall space, and kitchens. While all of these properties have bath and toilet space, sellers may not always mention how many spaces there might be.

A 1BHK, is 1 Bedroom, Hall and Kitchen.

Villas offer more space and liberty but apartments offer better security. However, the villas in gated residential complexes offer the same amount of facilities, security, and ease of management and an equal sense of community like apartments.

Renting provides much more flexibility. However, if you have returned to the office, either full-time or partially, and assume you'll remain in your current job for a few years, then buying might be wiser. A common rule of thumb is if you plan to stay in the home for five to seven years, then buying is a good option.

Buying a house gives you ownership, privacy and home equity, but it's expensive when it comes to repairs, taxes, interest and insurance. Renting an apartment is lower maintenance and more flexible, but you may have to deal with rent increases, loud neighbors or a grumpy landlord.

In theory, buying a house after retirement gets you more for your money than renting. However, homeownership also entails substantial financial risks. Issues such as fluctuations in market value, unexpected maintenance expenses, and insurance deductibles can increase costs over and above those of renting.

Ideally, the average lifespan of any concrete structure is 75-100 years. But, it is considered that the average life of an apartment is 50-60 years while of a house it is 40 years.

1-bedroom flats are traditionally more difficult to sell than 2-bedroom flats. Second bedrooms are useful for guests, hobbies or home offices. They also offer the potential of additional income if you choose to take in a lodger. Those who can afford to stretch to a 2-bedroom property will usually choose to do so.

Are flats hard to sell than houses? ›

Even though it's not harder to sell a flat than a house, as we've depicted above, here are some of the key points that go in favor of houses and explain why they tend to sometimes go up in value faster than flats.

The other popular neighborhood for expats is the Besant Nagar area. This is a residential area with the benefit of not only being close to many office buildings, but also near to Elliot's Beach.

Lifestyle Cost

These include utility bills, gym membership, grocery shopping, etc. Shopping, eating out, and other expenses can increase Chennai's overall living cost. Depending on your choice and usage, this can run you between Rs 8,000 to Rs 10,000 per month.

The average chennai salary in India is ₹ 572,643 per year or ₹ 229 per hour. Entry-level positions start at ₹ 300,000 per year, while most experienced workers make up to ₹ 1,700,000 per year.

Yes, buying a flat in Chennai today brings great potential advantages in the future. The increasing demand for rental houses in various areas of the city due to the influx of people from various parts of the country will have a huge impact on real estate price in the future.

Areas like Pudupakkam, Porur, Padur, Pallikaranai and Poonamalle are considered as the one of the fast developing areas in Chennai 2022.

Which is the most posh area in Chennai ? The city has many posh localities that are admired by everyone, some of them are Anna Nagar, R.A. Puram, Adyar, Vadapalani, Mylapore, Besant Nagar, Kottrpuram and many more.

How much salary is sufficient to live comfortably in Chennai? The living costs vary depending on the location, personal habits, family size, and other parameters. However, if you earn between INR 30000 and INR 50000 per month, you can live comfortably in Chennai.

Practically yes, it is possible to live off that sum in chennai which offers a cheap cost of living experience apart from accommodation, which is a bit high compared to other major cities in South India. Accommodation with basic amenities upon sharing with a roommate or two will come up to 2000 to 4000 per month.

Cost of Living Comparison Between Chennai and Bangalore

You would need around 131,318.1₹ in Bangalore to maintain the same standard of life that you can have with 110,000.0₹ in Chennai (assuming you rent in both cities). This calculation uses our Cost of Living Plus Rent Index to compare cost of living.

Why is flat cheaper than house? ›

Houses usually grow in capital value more than flats. This is because flats are more likely to be leasehold, and in time, the lease term diminishes, which makes a flat harder to sell. The capital gain will depend on what type of house you buy.

Apartments are a good choice for self use, renting as well as for investment purposes. Apartments are at par with independent houses in all respects and as far as customisation is concerned, it can be done at a small scale without altering the basic set-up of the apartment.

The etymology of flat originates from the Old English word “flett,” dating back to the 1300s. The term means level and in one plane, which nowadays relates to many different things, such as a deflated tire, lying prone, and a dwelling on one story. Hence, the term flat is used to describe a one-level apartment.

In British English, a flat is a set of rooms for living in, usually on one floor of a large building. She lived in a tiny furnished flat near Sloane Square. In American English, a set of rooms like this is usually called an apartment.

If a short-term is your cup of tea, then any apartment from any top real estate builder will fetch you a steady rental inflow for 2 to 5 years. Henceforth you can just sell it off and invest in any other property of your choice. Thus, apartments are good investments even if you are on the lookout for a passive income.

On average, building a 1,000 sq ft house in India can cost you Rs 12 lakh. This may vary as per the city and other factors such as labour availability, raw material supply and quality of furnishing you are using.

Typically, flats for sale are cheaper to buy compared to a house. Flats are smaller and have more value. As a result, it makes flats the most accessible route to property investment. If you consider buying flats as investments, they give you good returns in terms of rental income.

If a short-term is your cup of tea, then any apartment from any top real estate builder will fetch you a steady rental inflow for 2 to 5 years. Henceforth you can just sell it off and invest in any other property of your choice. Thus, apartments are good investments even if you are on the lookout for a passive income.

Is buying a flat a good idea? ›

Is a London flat a good investment. In short, yes! Buying a flat in London is a great investment for your money. With house prices continuously rising in the capital, it's an opportunity that shouldn't be missed.

When you buy a property, your lender will commission an independent surveyor to check for faults – this could be things like rotting windows, blocked drains or structural defects. The survey could return a valuation which is lower than the agreed purchase price – a 'down valuation'.

The top floor is the most secure out of all the levels. Thieves or other invaders will rarely make their way to the top of the building. If you're on the top, you can feel safe from people who might push into the building from the outside.

The flat is a British English term, whereas Apartment is an American English term. A Flat has one storey most times, and an Apartment can be multi-storeyed. A flat sometimes refers to low/middle-class accommodation, while an apartment refers to luxurious and refined living.

Though homes can be valuable assets to own, they shouldn't be purchased primarily for investment. Owning offers stability, tax benefits, and equity, among other perks. Renting provides more flexibility and liquidity, and you'll spend less money (and time) on maintenance.

Thanks to the Equal Credit Opportunity Act, there is no age limit to taking out a mortgage. As long as you can meet the financial requirements, you're allowed to take out a loan at any time. To take out a mortgage over 60 you will need to be able to prove your ability to repay the loan.

Is 45 too old to buy a house? ›

While you're never too old to buy your dream home, there are some things to consider before making your purchase. See more real estate pictures. As you get closer to retirement age, it might feel like it's too late to buy a home. While this might be true in some cases, there are times when it still makes sense to buy.