Chennai, Oct 6:
Chennai recorded 13,871 residential property sales during January-September 2026, registering a 2% year-on-year increase from 13,552 units during the corresponding period last year, according to Knight Frank India. The sales figure is the highest for the first nine months of any year since 2018. Developers launched 14,639 units during the period, 7% lower than the 15,793 units launched in 9M CY2025, indicating a measured approach to new supply.
Sales stood at 4,763 units in the first quarter, 4,435 units in the second quarter and 4,673 units in the third quarter. Launches totalled 5,112 units in Q1, 4,476 units in Q2 and 5,051 units in Q3. Across India’s eight major residential markets, sales remained largely stable at 2,58,238 units during the first nine months of 2026, while launches increased 4% to 2,79,899 units.
Chennai witnessed a notable shift towards higher-value homes. Sales in the Rs 2-5 crore segment surged 54% year-on-year to 1,709 units, while the Rs 1-2 crore segment grew 17% to 3,808 units. Sales in the Rs 5-10 crore and Rs 10-20 crore segments rose 17% and 22%, respectively. Overall, sales of homes priced above Rs 1 crore increased 26% and accounted for 42% of total sales, up from 34% in the corresponding period last year.
At the lower end, sales of homes priced below Rs 50 lakh declined 46% to 1,542 units. The Rs 50 lakh-Rs 1 crore segment grew 7% and remained the largest category with 6,506 units sold, accounting for 47% of total sales. The weighted average residential price in Chennai rose 5.9% year-on-year to Rs 7,715 per sq ft in Q3 2026.
Chennai’s quarters to sell (QTS), a measure of the time required to absorb unsold inventory at the recent sales pace, stood at 4.4 quarters in Q3 2026. It was the second-lowest among India’s eight major markets and well below the eight-city average of 6.1 quarters. QTS has remained between 4.2 and 4.5 quarters since early 2025, indicating steady absorption of new supply.
Joseph Thilak, Executive Director – Occupier Strategy & Solutions and Head of Data Center Business (India), Knight Frank India, said Chennai had recorded its highest sales for the first nine months of any year since 2018, with demand steadily shifting towards larger homes. He said the city’s stable employment base, supported by global capability centres and the manufacturing sector, should continue to support housing demand through the festive season.