2013: Chennai Real Estate Capital Values..

Residential Property Rates for Mid Segment Properties in Major Micro Markets

in Chennai:

MICRO MARKET CAPITAL VALUE (Rs. per square feet)

Porur                             4,500 - 5,000

Guduvanchery            3,000 - 3,200

Vandalur                      3,000 - 3,300

Oragadam                   2,800 - 3,500

Navalur                       4,500 - 5,000

Medavakkam              4,300 - 4,500

On comparing the prevailing market rates in Chennai city residential market to the property rates consumers are ready to pay; micro markets Medavakkam,

Guduvanchery, Oragadam & Vandalur have comparable pricing.

The increase in pricing of Porur and Navalur residential market over past 4 quarters has led to a demand & supply mismatch. What is typically seen is when prices increase in a certain market, it forces the mid income buyer segment to shift focus to lower priced micro markets.

In 2013 we expect these markets to have stable pricing.

Src: India Property.com

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