CREDAI projects 25 per cent growth in Chennai flat sales in 2025

CHENNAI: The Confederation of Real Estate Developers' Associations of India (CREDAI) has projected up to 25 per cent growth in apartment sales in the city in 2025 with new project launches anticipated to grow by up to 20 per cent.

"As the year comes to a close, the Chennai residential market is poised for robust activity. The festive season is expected to further strengthen buyer sentiment, leading to a significant rise in sales and launches. This anticipated momentum highlights the market's ability to rebound and conclude the year on a positive note," said A Mohamed Ali, president of CREDAI Chennai.

Predicting that the Q4 performance will increase by 15%-20% while new project launches are likely to grow by 10%-15% compared to Q3, Mohamed Ali projected that the residential market is expected to build on this momentum, with sales growth projected between 20%-25% in 2025.

"Also, new project launches are anticipated to grow by 15%-20%, particularly in emerging regions, which are set to benefit from enhanced infrastructure and urban expansion," he added.

In 2024, South Chennai was the top choice for residential sales, with areas like Medavakkam, Tambaram, Velachery, and Porur seeing strong demand due to improved infrastructure, CREDAI observed.

Demand in North Chennai too is gaining traction, especially in areas like Manali and Korukkupet, thanks to new development projects, said Mohamed Ali.

In Central Chennai, neighbourhoods like T Nagar, Nungambakkam, and Chetpet, known for lifestyle hotspots and proximity to commercial hubs, continue to attract buyers while areas like Ambattur and Avadi in western Chennai are also being preferred now due to better connectivity and affordable housing options, he added.

Mohamed Ali also requested the government to simplify and expedite approval processes and support from utility providers like Tangedco.

"Policy measures promoting inclusivity and homeownership can further bolster the sector's growth. For instance, introducing stamp duty discounts for women homebuyers, similar to the successful policy in Maharashtra, would empower women, enhance affordability, and improve buyer sentiment," he opined.