A report by the Confederation of Real Estate Developers Associations of India (CREDAI) shows high demand for residential projects in Chennai. Data show that during the second quarter of 2022, there were 3,889 residential units registered in Chennai and during the same quarter in 2023, this number touched 6,435 units, which represents a 65.47% increase.
During the second quarter of 2023, central Chennai had the highest share of registered projects, accounting for 31%, followed by southern suburbs and south central with 28% and 14% respectively. Regarding the number of residential units, southern suburbs accounted for 43%, followed by western suburbs, with 20%, and south central with 14% during the second quarter of 2023.
