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Home > Forum > Chennai > Real estate News > Apartments shortage in North Chennai

Apartments shortage in North Chennai

Q: Hey heard that the supply of multi storey apartments falls short of demand by 17 per cent. Kindly discuss on this news ?

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Replies (1)
1
Hey Pavan, the main reason for this shortage in North Chennai is because of small piece land. Most of the developers require for building apartment projects, since small land pieces belong to individuals, they prefer developing those into individual houses with single floor units.
Himani


Hi can you tell me the average price of land in the north Chennai ??
Jackie,  
11th March 2014


@Jackie: the average price of land in the North ranges from Rs 4,000-4,500 per sq ft. The residential development in Chennai has been concentrated more in the South due to the presence of IT Industry. The localities which record highest demand for multi-storey apartments include Anna Nagar, Poonamallee, Kolathur, Ambattur and Perambur.
Himani,  
11th March 2014


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