JLL’s Tour of India’s Top Residential Hotspots: Chennai Edition
Guindy, Pallikaranai and Poonamallee are Chennai’s top three residential hotspots.
The second edition of JLL’s Tour of India’s Top Residential Hotspots covers Chennai where Guindy, Pallikaranai and Poonamallee emerged as the top three residential hotspots. All these locations are driven by good development of IT / ITeS space that drive the residential demand in Chennai.
Through this report we aim to facilitate the complex decision making process by identifying three residential hotspots in India’s top cities through a multiple-criteria-decision-analysis. Some of the common drivers that make these locations prime include:
Let’s take a look at the number of residential units launched and sold in these micro-markets in the last five years.
Strong sales despite slow launches in Guindy, Pallikaranai and Poonamallee.
Source: JLL Research
Despite of overall slowdown in Chennai’s residential market, the hotspots witnessed stable sales in last three years (2016, 2017, and 2019). These hotspots are likely to benefit from the adjacent business parks with good supply in pipeline. Also increased job creation in IT and manufacturing along with improving connectivity driven by Chennai Metro Rail is likely to drive the demand for residential units in these hotspots. This is clearly seen from the 8% rise in units sold in 2018 over previous year. Benefits of good social infrastructure also attract more home buyers in these hotspots due to improved quality of life.
We’re analyzing Chennai’s top 15 residential micro-markets to arrive at the top 5.
Click on Connectivity, Quality of life or Real estate parameters to view results.