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Residential sales improve 59% in Chennai, new launches up 94% in Q4 2020: JLL
Published on January 13, 2021
Key Highlights:
- Chennai witnessed a total sale of 2,500 units, up 59 % in Q4 2020 as compared to 1,570 units in Q3 2020
- Sales was concentrated in the southern suburbs submarket which accounted for 60% of total the sales in the quarter
- New launches in Q4 2020 almost doubled when compared to the previous quarter
- New launches during the quarter crossed the pre-Covid average quarterly levels of ~1900 units witnessed in 2019
- The Southern suburbs (Padur, Shollinganallur, Perumbakkam, and Navalur) submarket accounted for 62% of the new launches during the quarter
Chennai residential market continues momentum
| 2019 | 2020 | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | Growth Q4 2020 over Q3 2020 | |
| Launches (units) | 7,673 | 7,135 | 2,574 | 182 | 1,487 | 2,892 | 94% |
| Sales (units) | 13,967 | 6,983 | 2,453 | 460 | 1,570 | 2,500 | 59% |
| Average Prices (INR/sqft) | 4,585 | 4,585 | 4,585 | 4,585 | 4,585 | 4,585 | – |
- Source: Real Estate Intelligence Service (JLL), 2020, JLL Research
