CHENNAI RESIDENTIAL MARCH 2019

MARKETBEATS
85%
S H A R E O F R G S A L A I IN
54%
S H A R E O F U N IT S L A U N C H E D
47%
G R O W T H I N N U MB E R O F
NEW LAUNCHES IN A F F O R D A B L E S E G ME N T UNITS LAUNCHED (YOY)

RENTAL VALUES AS OF Q1 2019

HIGHLIGHTS Submarket
Average quoted rent
(INR/month)
QoQ
change
(%)
YoY
change
(%)
Short
term
outlook
Rise in unit launches High-end segment
Central 100,000 – 250,000 0% 0%
In Q1 2019, unit launches increased by 47% y-o-y over the same period, to nearly
Off Central-I 90,000 -- 150,000 0% 0%
2500 units. This surge was primarily driven by the launch of four projects by a
Off Central-II 50,000 – 130,000 0% 0%
prominent city based developer. The Southern quadrant continues to dominate East Coast Road 100,000 – 250,000 0% 0%
residential launches, as the locations of Suburban South I such as Perungudi, Mid segment
Karapakkam, Sholinganallur and Padur, accounted for 85% of the units launched Central 50,000 – 75,000 0% 0%

during the quarter. Demand in the city is supported by an increasing workforce and Off Central-I 45,000 - 80,000 0% 0%

stable prices aiding purchase decisions. Off Central-II 25,000 – 50,000 0% 0%

Suburban South-I 22,000 – 32,000 0% 0%
Affordable housing in focus Suburban South-II 15,000 – 25,000 0% 0%

Affordable housing accounted for 54% of the total launches, with developers keenly CAPITAL VALUES AS OF Q1 2019
QoQ YoY Short
exploring this segment even in the areas of Rajiv Gandhi Salai (Post toll RGS) where Average quoted rent
Submarket change change term
(INR/month)
the working population comprises a significant portion of the buyer profile. The (%) (%) outlook
High-end segment
momentum in this category is being driven by the GST benefits and change in Central 23,000 – 28,000 -10% -10%
affordable housing definitions which make it quick moving in the primary sales market. Off Central-I 18,000 - 22,000 0% 0%
Off Central-II 12,000 – 17,000 0% 0%
6,000 – 9,500
Sales picking up momentum East Coast Road
Mid segment
0% 0%

A Cushman & W akefield Capital values in the luxury segment in Central submarket have undergone a Central 14,000 – 18,000 0% 0%
Research Publication Off Central-I 15,000 - 18,000 0% 0%
correction of around 10%, both on q-o-q and y-o-y basis on account of price softening Off Central-II 9,000 – 15,000 0% 0%
in this category. Suburban South-I and West along with the East Coast Road Suburban South-I 5,000 – 7,500 4% 4%
DATA Suburban South-II 4,000 – 7,000 0% 0%
residential corridor saw prices for mid-segment projects show a q-o- q increase of Suburban North 4,200 - 7,000 0% 0%
INTO
ACTION 4-5%. Rental values maintained status quo across both segments. Sale momentum in Suburban West 4,400 – 7,000 5% 5%
East Coast Road 4,500 – 6,500 5% 5%
completed units continues to be healthy, with buyers and investors, who were on a
www.cushmanwakefield.com wait and watch mode, now executing their purchases.
 CHENNAI RESIDENTIAL
MARKETBEATS MARCH 2019
Rohan Sharma
Director SIGNIFICANT PROJECTS LAUNCHED IN Q1 2019
Research Services, India
Tel: +91 124 4695555 BUILDING LOCATION DEVELOPER UNITS LAUNCHED RATE**(INR/SF)
Rohan.Sharma1@cushwake.com
Savoye Karapakkam Casagrand 339 4449
Castle Manapakkam Casagrand 216 4600
Ascot Alandur DRA Group 106 7595

SIGNIFICANT PROJECTS UNDER CONSTRUCTION IN Q1 2019

BUILDING LOCATION DEVELOPER ESTD. NO. OF UNITS EXPECTED COMPLETION

Crescendo Nolambur Casagrand 351 Q4 2020

Clover by the river Kotturpuram Appaswamy Real Estates 300 Q4 2021
Courtyards Sholinganallur Prestige Group 150 Q1 2021

SIGNIFICANT CONSTRUCTION COMPLETIONS IN Q1 2019

BUILDING LOCATION DEVELOPER ESTD. NO. OF UNITS EXPECTED COMPLETION

Artistica Shollinganallur Adroit 124 Q1 2019
Mithila Pallavaram Krishna Constructions 64 Q1 2019

Data collated from primary and secondary resources. Estimations are subject to change
* Rental and capital values have been depicted only for key submarkets
** Quoted base capital value and does not include other charges such as Preferential Location Charges, External Development Charges, Internal Development
DATA Charges, etc.
INTO The above values for high-end segment are for units typically of 2,000-4,000 sf
The above values for mid segment are for units typically of 1,600-2,000 sf
ACTION
^ Affordable housing has been defined as units with a carpet area of 60 sq.mt in metros / 90 sq.mt in non-metros and value up to INR 45 lakhs

KEY TO SUBMARKETS

A Cushman & W akefield Central: Boat Club, Poes Garden, Nungambakkam

Research Publication Off Central-I: R.A. Puram, Abhiramapuram, Alwarpet and Teynampet
Off Central -II: T.Nagar, Mylapore, Annanagar, Kilpauk, Thiruvanmiyur, Adyar, Kotturpuram, Besant Nagar, K.K.Nagar, Velachery, Vadapalani
Suburban North - Madhavaram, Perambur,Thondiarpet
Cushman & Wakefield (NYSE: CWK) is a leading global real estate Suburban West: Mogappair, Nolumbur, Ambattur, Poonamallee High Road
services firm that delivers exceptional value for real estate occupiers Suburban South-I: Rajiv Gandhi Salai (Thiruvanmiyur to Kelambakkam)
and owners. Cushman & Wakefield is among the largest real estate Suburban South-II: GST Road (Alandur to Tambaram, Porur)
services firms with approximately 51,000 employees in 400 offices
and 70 countries. In 2018, the firm had revenue of $8.2 billion across
core services of property, facilities and project management, leasing,
capital markets, valuation and other services. To learn more, visit
www.cushmanwakefield.com or follow @CushWake on Twitter.

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Copyright © 2019 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.