Prices of plots in Chennai increase 5.4% YoY:
Magicbricks
Chennai,
March 26, 2025: With
robust demand, average prices of plots in Chennai increase 5.4% in the last one
year, observed Magicbricks.
With an
average price of INR 3208 psf in 2024, supply of plots reduced 15.8% YoY ,
indicating growing demand in the city’s plotted development segment.
Magicbricks
further elaborated that average prices of plots in Kelambakkam recorded a sharp
63.4% increase in the past one yearto INR 3,651 per sq. ft.Similarly, prices in
Guduvancheri increased 3.1% in the past one year to touch INR 2,080 per sq.
ft., while rates in Red Hills increased 2.9% during the same period. Avadi (INR
2,266 per sq. ft) and Sriperumbudur (INR 1,535 per sq. ft.) presented more
affordable options.
The
launch of integrated township projects is attracting investor interest in
plotted developments and reshaping this segment. Chennai has emerged as a focal
point for this trend, supported by urban expansion, improved infrastructure,
and increasing demand across residential and commercial segments.
Beyond
Chennai, another key real estate hub in Tamil Nadu, Coimbatore, has also
demonstrated viable opportunities for investment in plots.. In the past one
year the city witnessed an appreciation of 5.4% in plots with average prices
reaching INR 3,992 per sq. ft.
