Home registrations have gone up by 88% - More residents invest in housing in North Chennai now!!
Who would have thought a few years back that one day north Chennai would also be preferred by the residents for investing in housing? It has happened now!!
In the first quarter of 2025, the residential real estate market has increased in Chennai. Home registrations have increased by 88 percent over the previous quarter. It is superb to note that while south Chennai is highly sought after north Chennai is emerging as an important growth driver. This was according to a Chennai Q1 2025 report from CREDAI.
For a long time, north Chennai was known for the industries only and people preferred south Chennai for housing. Now, 1518 housing units have been registered in north Chennai. This clearly reveals the shift in the investor and end-user interest. Totally across entire Chennai, as many as 8042 housing units have been registered and that is an 11% increase over the same period last year. It is superb to note that the sales have remained strong. This was revealed by as many as 3783 housing units getting sold and increasing by 7% quarter on quarter and 27% Y-o-Y.
The sales of ready to occupy homes and near completion homes were superb. This has shown the preference of the end user. As per Mr. Ranjeeth Rathod, executive committee member of CREDAI, north Chennai that is known for many industries etc is now becoming popular for its residential potential. Improved metro train connectivity coupled with others like upcoming Tidel park, enhanced social infrastructure etc have made localities like Minjur, Madhavaram, Moolakadai and Avadi very attractive for the investors.
The next wave of housing growth would be in places like Parandur, Chengalpet and Sriperumbudur etc. In plotted development, these places are attracting interest now. It is worth mentioning that in Parandur a master plan is currently in works and after the completion of zoning and with infrastructure in place the residential demand would be high.
The report from CREDAI also brought to light about the registration of 61 new residential projects in Q1 in Chennai city. In the same quarter last year, 78 new residential projects were registered.
