Robust demand for homes and office space keeps city property market steady
CHENNAI: The citys housing supply touched 19,675 units in the first nine months of 2025, a 15% increase from last year, while sales rose to 15,720 units, underscoring a market driven by end-users rather than speculative buyers, a report released at the Real Estate and Infrastructure Summit here on Thursday said. The report Real estate and Infrastructure Driving Growth in Tamil Nadu by Anarock, one of Indias leading independent real estate consultancies, stated that South Chennai continues to dominate activity, accounting for almost three-quarters of all new launches this year as developers push projects along the OMR and GST corridors. Speaking during the inaugural session of the summit, Anuj Puri, chairman and founder of Anarock group said prices have risen 38% over five years to reach Rs 7,010 per sq ft, but absorption has kept pace - leaving Chennai with the second-lowest unsold stock among major metros. The citys commercial market is on a similar trajectory. Net absorption touched 4.6 million sq ft in the first nine months of 2025, already matching last years full-year levels and on track to set a seven-year high, Puri said. According to the report, over 250 global capability centres are now operational across the state. Chennai alone hosts 10% of Indias total GCC footprint, while Coimbatore has emerged as one of the top tier-II destinations for new GCC setups. In a separate session, Ranjeeth Rathod, managing director, DRA, highlighted the prices of raw materials going up which has been impacting the affordable homes as prices have gone up. P Kruthivas, founder and managing director, Pushkar Properties Pvt Ltd highlighted the need for reforms in the granting approvals for the projects. C Velan, CEO, CEEBROS Chennai, Sriram Iyer, director & CEO, TVS Emerald Limited and Bhupesh Nagarajan, co-chairman, FICCI Tamil Nadu State Council & CMD, Indira Group of Companies, also spoke on the occasion. Speaking at the valedictory function of the summit, Shiv Das Meena, chairman, Tamil Nadu Real Estate Regulatory Authority (TNRERA), noted that the GDP growth of Tamil Nadu stood at 11.19% when compared to the national average of 6.5%.
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