Chennai, Sept 2:
Chennai’s residential property market continued to remain strong during the first half of 2026, with apartment sales rising 27% year-on-year to 8,587 units between January and June, according to a JLL report. Average residential property prices also increased by 13% during the period.
The growth comes amid sustained demand for housing, improved connectivity and the opening of new development corridors across the city. JLL said infrastructure projects, including the Outer Ring Road and Peripheral Ring Road, are opening up new areas for residential development and strengthening buyer interest.
Homes in the Rs 1 crore-Rs 1.5 crore price range accounted for the largest share of residential transactions in Chennai during the first six months of the year. Demand was also seen in higher-value segments, with the Rs 1.5 crore-Rs 2 crore category gaining ground.
Properties priced between Rs 2 crore and Rs 5 crore accounted for 18% of transactions, indicating stronger demand for larger and more spacious homes.
“Chennai’s residential market is benefiting from improved connectivity and the opening up of new development corridors,” said Vijay Murugan, Senior Director, Leasing, India, JLL.
He said the Outer Ring Road and Peripheral Ring Road had opened up new land parcels and development opportunities, while projects that were previously under construction were progressively being handed over.
Across India’s seven major residential markets, apartment sales increased 3% year-on-year to 1,38,382 units during H1 2026. New housing supply increased 41% to 48,748 units.
Although sales moderated during the second quarter compared with the first quarter, JLL said Chennai continued to benefit from urbanisation, infrastructure development and changing lifestyle aspirations.
The figures indicate that Chennai remains one of the country’s stronger residential markets, with infrastructure expansion and improved connectivity playing an increasingly important role in determining new housing demand.