Chennai Residential June 2013 by JLL India..!

Residential...!

Developers reduced the number of units launched during May, 2013.  Prominent launches during the May - 2013 month include Avalon Springs by Jain Housing at Potheri on GST Road & Temple Town by VGN at Thiruverkadu.

Residential	Rents	Capital Value
Key Areas	Rs. per month for a 1,000 sq.ft 2 BHK Flat	Rs. per square  feet
Adyar	20,000 to 30,000	11,000 to 17,000
Medavakkam	7,000 to 14,000	3,600 to 5,250
Tambaram	6,000 to 12,000	3,500 to 4,500
Anna Nagar	15,000 to 25,000	9,000 to 14,000
Porur	5,000 to 10,000	3,800 to 6,200
Sholinganallur	9,000 to 12,000	4,250 to 5,800

Slow absorption helped the residential capital values to remain stable, while rents continued to witness marginal rise on the back of increasing housing demand.

INFRASTRUCTURE ONGOING..!

Major improvements did not happen with respect to the monorail project and the new Greenfield airport in the last few months.

Recently, civil aviation ministry has been in touch with the Tamilnadu state government officials to execute the project. Similarly, TN government officials concerning the monorail project had brainstorming sessions during the month to implement this project.

About Jones Lang LaSalle..!

Jones Lang LaSalle (JLL)  is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, JLL operates in 70 countries from above 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 260 crore square feet and completed $ 6,300 crore in sales, acquisitions and finance transactions in 2012. Its investment management business, LaSalle Investment Management, has $ 4,770 crore of real estate assets under management.

JLL  has over 50 years of experience in Asia Pacific, with above 25,400 employees operating in 78 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was named the number one real estate advisory firm in Asia Pacific in the Euromoney Real Estate Awards 2012. For further information, please visit  website,  www.ap.joneslanglasalle.com

About JLL India..!

JLL  is India’s premier &  largest professional services firm specializing in real estate. With an extensive geographic footprint across 11 cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh & Coimbatore) and a staff strength of above 5,800,  the firm provides investors, developers, local corporates &  multinational companies with a comprehensive range of services including research, analytics, consultancy, transactions, project & development services, integrated facility management, property and asset management, sustainability, industrial, capital markets, residential, hotels, health care, senior living, education and retail advisory. The firm was named the Best Property Consultancy in India (5 Star Winner) at the International Property Awards - Asia Pacific for 2012-13. For further information, please visit www.joneslanglasalle.co.in

For more information about JLL India research

Mr. Ashutosh Limaye

Head, Research and REIS Email: ashutosh.limaye@ap.jll.com

+91 98211 07054

Mr. Trivita Roy

Assistant Vice President, Research trivita.roy@ap.jll.com

+91 40 4040 9100

Research Dynamics 2013

Pulse reports from Jones Lang LaSalle are frequent updates on real estate market dynamics. 

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