Chennai: An assessment report titled ‘India Real Estate January – June 2021’, that evaluates the performance of residential asset classes in top eight markets of India, cited that Chennai recorded a 93 per cent YoY increase in residential demand in the first half of 2021.
The report by Knight Frank India said sales jumped from 2,981 units sold in H1 2020 to 5,751 units sold in H1 2021.
Further, new project launches grew by 54 per cent to 5,424 units in H1 2021, it said.
On the demand front, South Chennai accounted for the largest share, 56 per cent of the total units sold in H1 2021 followed by West Chennai with a 34 per cent share.
The Rs 2.5-5 mn and the Rs 5-7.5 mn ticket-size categories emerged as popular choices during this period. Further, the demand for spacious homes and second homes has picked up in the last few months on account of the pandemic-induced work from home and digital studying trends.