Tamil Nadu's real estate market is experiencing growth, particularly in Chennai, with a notable increase in residential sales and a rise in property values. However, the market also faces challenges like fluctuating prices and geopolitical concerns impacting sales in some areas. Reviews for specific properties, like Tamilnadu Housing Board Flats, can be found on platforms like Justdial.
Real Estate Market Trends:
Growth in Chennai:
Chennai's residential market saw a 5% year-on-year (YoY) increase in sales in 2023, reaching 14,920 units, according to The Hindu.
Continued Growth in H1 2024:
In the first half of 2024, residential real estate in Chennai continued to grow, with a 12% YoY increase, driven by the IT and manufacturing sectors.
Price Fluctuations:
While Chennai's real estate market is robust, prices have been rising, and there are fluctuations, particularly in the face of geopolitical concerns.
Investment vs. Living:
For those considering where to buy, metros like Chennai offer more infrastructure, social amenities, and job opportunities, while non-metros may offer better price appreciation and larger spaces.