Chennai residential real estate prices stable in the second quarter

Chennai, October 3, 2006: According to real estate services firm Colliers International, capital and rental values in Chennai have been stable over the last quarter. Rental yields are around 6%-8% in prime residential areas of the city.

A lot of development is happening in and around the city's IT Corridor (Old Mahabalipuram road). Work on the six lane expressway is fast underway, with the first 3-km of the 20-km road to be formally commissioned by end of October. The IT corridor will have a specially designed median, planter strips, a service road, a lane for non-motorised vehicles and a pedestrian footpath and extensive green cover. Developers have started targeting the middle income group with affordable flats in this area.

Property prices (capital and rental values) for benchmark areas in Chennai such as Boat Club, Nungambakkam, Anna Nagar, Adyar, Besant Nagar, T Nagar, Alwarpet, R.A.Puram, and Velachery are provided below.

Chennai Property Prices Q2 2006Click on image to view chart.


By INRnews Correspondent

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