Home BUSINESS ‘Diverse Economic Base, Growth of Office and Manufacturing Spaces Drive Residential Demand...

‘Diverse Economic Base, Growth of Office and Manufacturing Spaces Drive Residential Demand in Chennai’


Mount Poonamallee Road and Pallikaranai-Medavakkam-PTR Road along with their
vicinities are top two residential hotspots
 The existing and proposed social infrastructure, robust connectivity and along with real
estate parameters have resulted in high residential demand across these key micro-markets
 Sales grew by 24% over H2 2018, yet to match the levels of H1 2018
 New launches witness a drop of more than 50% in Chennai; but, 80% of the total new
launches fall in affordable and mid-priced segment (price bracket of INR 7.5 million)
 In line with the national trend, demand for affordable and mid-priced housing high
Chennai, 2 July 2019: Guindy- Mount Poonamallee Road and Pallikaranai- Medavakkam and PTR Road
along with their vicinities have over the past year emerged as the strongest residential hotspots in Chennai,
according to JLL’s latest report titled JLL’s Tour of India’s Top Residential Hotspots released today.
Good connectivity with other key locations in the city, robust road network and well-developed social
infrastructure have made the two hotspots perform well over other regions, according to the report. Huge
demand for residential units in these two regions is likely to support price appreciation.
JLL today also released its national report, Residential Market Update – H1 2019. According to the findings
of the report, on a pan-India level, sales are expected to remain strong despite modest new launches in the
country witnessed during the first half of the year (H1 2019).
According to the update, within the country’s top seven cities, residential real estate market witnessed an
increase of 22% in sales at a pan-India level during the period, it said. Interestingly, the share of affordable
and mid-income housing (ticket size of up to INR 10 million in Mumbai and INR 7.5 million across other
cities) in new launches, has remained significant at 58% at the country level, the report added.


Please enter your comment!
Please enter your name here