Office space provide strong support for Chennai reality; Residential market finds a new bottom in 2016: Knight Frank India


Knight Frank India today launched the sixth edition of its flagship half yearly report – India Real Estate. It presents a comprehensive analysis of theresidential and office market of Chennai for the period July – December 2016 (H2 2016).

Key Residential Takeaways:

·        Political uncertainty and extreme weather coupled with demonetisation see YOY drop in launches and sales by 29% and 9% respectively

·        Supply drops by 18% to 4800 units during 2016

·        Demonetisation a major reason as demand plummets 31% YOY in Q4 2016

·        The South Chennai micro-market accounted for over half the units launched during H2 2016 with healthy development interest in locations such as Kelambakkam, Ottiambakkam, Mahindra World City and Seruseri

·        The premium segment QTS now exceeds that of the Chennai residential market and this segment now carries nearly four years of unsold inventory

·         Chennai residential market currently carries close to two years of unsold inventory

Please find attached the press release for more information 

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