Will property prices fall in Chennai?

I have been living in Chennai for the past seven years, so I think I will be able to share my insights around: will property prices fall in Chennai? In my experience, prices are going up every year. The city’s convenient location, strong economic growth, and modern infrastructure make it a top choice for both Indians and NRI. Chennai, with more jobs, better transport, and continuous development, is unlikely to see a fall in property prices.

What are the Key Factors Driving Chennai’s Real Estate Market?

1. The Metro Phase II is making travel easier, especially to places like Madhavaram, Sholinganallur, and Perambur. These areas are becoming popular because you can get around faster now.

2. The Peripheral Ring Road and Bengaluru to Chennai Expressway are opening up to outer parts like Sriperumbudur, Tambaram, and Poonamallee. These spots are growing fast with new homes and businesses.

3. OMR (Old Mahabalipuram Road) is the top IT hub in Chennai. Since many tech companies are here, property prices and rents keep going up, good if you want to invest.

4. Areas such as Tambaram, Kelambakkam, and Poonamallee are expected to give good returns because of upcoming infrastructure projects. These locations are likely to be appealing to investors as affordable entry points with strong potential for growth.

If you are thinking about Chennai real estate, these are the places that you can invest in to gain good ROI.

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Hey,

I like to make real estate investments in different states. I have been researching Chennai real estate prices falling along with COVID-19 impact on the sector. The Confederation of Real Estate Developers’ Associations of India – Chennai Chapter (CREDAI Chennai) predict that property prices in the city are estimated to go up by 10-20%.There has been an increase in the cost of construction material and labour cost.

During the COVID pandemic, the market saw a decrease in demand. This had led to the stagnation in the Pune real estate sector.In 2022 and 2023 the real estate market has continued to recover and grow.

High chances that property prices in Chennai will not fall. Cost of steel, cement, copper wires, switches have all increased, this has increased the price of property. There will be more supply of properties. Developers are trying to increase the inventory in the city by launching new projects. There are also talks with the state government to discuss ways to keep homes affordable.Porperties usually see rapid appreciation in the prices of independent houses, apartments, and bungalows.

You can read Tamil Nadu Real Estate Regulatory Authority (TNRERA) updates to know information about Chennai real estate prices falling. Do you think Chennai property prices will recover.