Chennai homebuyers prefer 2BHK units

Chennai: At a time when demand for larger homes has increased in India because of remote working becoming a common feature due to Covid-19, a latest study has said 2BHK units continued to be the most preferred configuration among homebuyers of Chennai in 2020.

As per data available with online real estate brokerage firm PropTiger.com, 2BHK units claimed a 47 per cent share in both new supply as well as sales in the Tamilnadu capital in 2020.

The comparatively high average price range shows that the average rate of new properties in Chennai stood at Rs 5,228 per sqft at the end of 2020.

This could be cited as the main reason for the continued popularity of 2BHK configurations in Chennai at a time when 3BHK units are becoming more popular in some markets in the aftermath of the Covid-19 pandemic that has forced a majority of workers to work from home.

Traditionally, 2BHK has been the most preferred option for homebuyers in Chennai. This is reflected in the numbers for the past few years as well.

In 2018 and 2019, this configuration claimed 51 per cent and 50 per cent share in overall sales. Similarly, 2BHK homes made up for 54 per cent and 49 per cent share in total supply in Chennai in 2018 and 2019, respectively.

 

NT Bureau