Hey,
I like to make real estate investments in different states. I have been researching Chennai real estate prices falling along with COVID-19 impact on the sector. The Confederation of Real Estate Developers’ Associations of India – Chennai Chapter (CREDAI Chennai) predict that property prices in the city are estimated to go up by 10-20%.There has been an increase in the cost of construction material and labour cost.
Get home loans without hefty paperwork through NoBroker
Let NoBroker buyer plans find you the best locality to purchase a property in Chennai.
Will property prices fall in chennai?
During the COVID pandemic, the market saw a decrease in demand. This had led to the stagnation in the Pune real estate sector.In 2022 and 2023 the real estate market has continued to recover and grow.
High chances that property prices in Chennai will not fall. Cost of steel, cement, copper wires, switches have all increased, this has increased the price of property. There will be more supply of properties. Developers are trying to increase the inventory in the city by launching new projects. There are also talks with the state government to discuss ways to keep homes affordable.Porperties usually see rapid appreciation in the prices of independent houses, apartments, and bungalows.
You can read Tamil Nadu Real Estate Regulatory Authority (TNRERA) updates to know information about Chennai real estate prices falling. Do you think Chennai property prices will recover.
Read more: How to Change Name in Property Tax Online How to Buy Bank Auction Properties in Chennai? Can We Buy a Flat In Chennai For 30 Lakhs? How to calculate the second-hand flat price?
Your Feedback Matters! How was this Answer?
Shifting, House?
✔
Lowest Price Quote✔
Safe Relocation✔
Professional Labour✔
Timely Pickup & Delivery
Intercity Shifting-Upto 25% Off
Check Prices
Intracity Shifting-Upto 25% Off
Check Prices
City Tempo-Upto 50% Off
Book Now
Will property prices fall in Chennai?
Charita
309 Views
1 Answers
1 Year
2023-02-21T17:54:01+00:00 2023-02-21T17:54:02+00:00Comment
Share