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  • Wednesday, January, 2021| Today's Market | Current Time: 12:05:46
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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

     20192020Q1 2020Q2 2020Q3 2020Q4 2020Growth Q4 2020 over Q3 2020
    Launches (units)7,6737,1352,5741821,4872,89294%
    Sales (units)13,9676,9832,4534601,5702,50059%
    Average Prices (INR/sqft)4,5854,5854,5854,5854,5854,585
    • Source:  Real Estate Intelligence Service (JLL), 2020, JLL Research