Chennai housing market to see completion of 16 k in 2014

Q: The residential real estate sector in Chennai is expected to see a completion of more than 16,000 residential units. Kindly discuss on this news.

Ravi Kumar, Chennai

6th February 2014

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In 2013, Chennai witnessed more than 13,000 new residential unit launches and which is a decline of 38 per cent compared with 2012 and this was due to availability of ready-to-occupy residential products in many micro markets like Rajiv Gandhi Salai, Grand Southern Trunk Road and some parts of North Chennai.

Vivek Kulkarni,

6th February 2014

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@Gurmeet: almost 1 million sft of this upcoming supply would be dedicated to IT and ITeS sector, followed by 5 lakh sft commercial spaces and the remainder in special economic zones for IT and ITeS.

Pranab Malakar,

6th February 2014

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The residential property market would witness a revival in demand for high-end properties, as changing customer preferences for customised houses with better amenities is a new trend being witnessed in the market.

Balwinder Singh,

6th February 2014

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I heard nearly 900 units in the mid-end category are in a pre-launch stage and would be launched this year in locations like Rajiv Gandhi Salai-II, RA Puram and Sriperumbudur.

Gurmeet,

6th February 2014

Hey yes the residential real estate sector in Chennai is expected to see a completion of more than 16,000 residential units across all categories in 2014, as it was only 13,000 units launched during 2013.

Himani,

6th February 2014

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