Kalpana Murthy, Associate Director (Residential Services),Cushman & Wakefield India said,'' All segments and locations within the main city of Chennai were experiencing growth, with the mid segment registering the highest. The Chennai market is primarily self-sustained"
The highest capital appreciation in Chennai was witnessed in Adyar, Poes Garden both recording 25% growth in capital values over the past one year. The demand for residential units in Chennai is likely to grow at a CAGR (Compundes Annual Growth Rate) of 11% between 2011 and 2015. The infusion of supply over the next 5 years is expected to be nearly 1,17,500, which is higher compared with other major cities such as Hyderabad, Bangalore & Pune.
In Chennai 100 new residential project launches during 2011 and 15,000 flats will be available in the city in the next 4 years.
The most growth corridor locations of Perungudi, Thoraipakkam, Sholinganallur, Perungalathur and new upcoming locations of Kelambakkam, Oragadam.Many of these locations will be long term investment options.
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