Housing market soars, North Chennai new hotspot
Chennai: The residential real estate market in the city surged in the first quarter of 2025, with home registrations
soaring 88% over the previous quarter.
While South Chennai remains the epicentre, North Chennai is fast emerging as a key growth driver, as per Credai Chennai’s Q1 2025 report. The report shows 1,518 units were registered in North Chennai, signalling a notable shift in investor and end-user interest in a region long overshadowed by its industrial profile. City-wide, 8,042 residential units were registered, an 11% rise over the same period last year.
Sales remained strong, with 3,783 units sold, up 7% quarter-on-quarter and 27% year-on-year.
Ready-to-occupy and near-completion homes dominated, underscoring end-user preference. While leader South Chennai’s 4,309 unit registrations accounted for more than half the total, North Chennai, known for its industrial clusters and port-related infra, is gaining traction for its residential potential. “Areas such as Minjur, Madhavaram, Moolakadai, and Avadi are seeing renewed interest, thanks to improved metro connectivity, upcoming TIDEL Park, enhanced social infrastructure, and promise of integrated development under govt initiatives,” said Ranjeeth Rathod, executive committee member, Credai Chennai.
The growing appeal of Parandur, Chengalpet and Sriperumbudur, zones being positioned as the next wave of housing growth was noted.”Currently, these areas are attracting interest in plotted development. A master plan is in the works for Parandur. Once zoning is completed and infrastructure, especially metro connectivity, is in place, we expect significant residential demand.” The report said 61 new residential projects were registered in Chennai in Q1, slightly down from 78 in the same quarter last year. Across TN, 84 residential projects were registered, while total unit registrations statewide reached 9,480, a 34% rise over Q4 2024 and a 24% increase year-on-year.
A Mohamed Ali, Credai president, said the govt’s focus on inclusive urban development and infrastructure investment in suburban corridors is “enhancing liveability and making homeownership more accessible to a wider section.” Aslam P Mohamed, Credai secretary, said repo rate reductions and revised I-T slabs further boost buyer sentiment, mainly among first-time home-seekers.
