Top Rental Destinations in Chennai : A CommonFloor Report
Chennai has become an attractive destination for real estate investment with demand for residential units increasing on a daily basis. Employment opportunities and better standard of living are the key reasons for mass migration of people from different parts of Tamil Nadu and other states. The past decade has seen over 2 lakh people migrating to Tamil Nadu from Karnataka and Kerala alone, most of them settling in Chennai (Urban India, 2011: Evidence).
“As part of ‘Real Insights’ into real estate, CommonFloor.com has come up with a detailed report on Top Rental Destinations in Chennai – with in-depth analysis based on CommonFloor data.
For detailed report“
Housing over 8 million people, Chennai residential realty demand has been steadily increasing every year (Census, 2011). There is high rental demand especially in southern Chennai. This is mainly due to the concentration of IT industries in the area. People seeking jobs in these industries tend to settle in rented residential units mostly for quick settlement and easy access. With the urban sprawl moving towards the south and more projects coming in every quarter to satisfy the demand, people consider investing in these projects to rent them for quick returns.
This can also be validated by analyzing CommonFloor Listing data. The most popular rental localities are mostly located in the south having most number of listings. The following are the most popular localities in the order of most number of listings whose rental trends will be analyzed in this report.
