CREDAI
RAW Report Signals Renewed Confidence in
Chennai’s
Housing Sector
~ Surge
in Unit Registrations and Buyer Confidence Mark a Positive Start to the Year
~
Chennai, April 30, 2025: The Chennai residential real estate market opened 2025 on a positive note, as highlighted in the Q1 2025 report released by CREDAI Chennai.
The latest figures reflect a strong recovery and rising buyer confidence, with sharp growth in unit registrations, steady sales, and continued leadership by CREDAI Chennai developers.
The quarter also reflected measured optimism from
developers, a more discerning buyer segment, and firm steps toward a
well-balanced, resilient housing market.
The number of residential units registered in Chennai during Q1 2025 stood at 8,042, reflecting an 88% increase over Q4 2024 (4,286 units) and an 11% rise over the same quarter in 2024 (7,218 units).
Notably, CREDAI Chennai members accounted
for 92% of these registrations, up from 6,346 in Q1 2024 to 7,412 in Q1 2025—a
17% year-on-year increase.
Sales momentum
remained steady with 3,783 units sold in Q1 2025, up 7% quarter-on-quarter and
27% year-on-year from 2,983 units sold in Q1 2024. Of these, CREDAI developers
accounted for 80% of the sales volume. Projects nearing completion or
ready-to-occupy continued to be the preferred choice, reflecting an
increasingly discerning buyer base focused on quality and timely delivery. The
recent reductions in the repo rate and the Central Government’s revised income
tax slabs have further supported buyer sentiment, particularly among first-time
home seekers.
Project registration
activity remained stable, with 61 new residential projects registered in
Chennai during the quarter. This marked a slight moderation from the 78
projects recorded in Q1 2024.
CREDAI maintained a
strong regional presence, leading with 4,309 registered units in South Suburbs
and 1,518 units in North Suburbs, along with consistent contributions in West
and Central Chennai. Across Tamil Nadu, total project registrations spanning
both buildings and layouts rose steadily month-on-month, with Q1 2025 seeing
1,436 registrations in total.
The south suburbs
accounted for 31% of total project registrations and 56% of all unit registrations
in the city. The spike was driven by improved infrastructure, Metro Phase II
progress, and interest in emerging corridors including Parandur, Minjur,
Chengalpattu, and Sriperumbudur. These locations are expected to witness
continued momentum in upcoming quarters as integrated township models and
decentralised planning gain traction.
As of March 2025,
unsold residential inventory in completed projects stood at 7,872 units,
reflecting stable levels compared to the previous quarter. CREDAI members held
5,937 of these units. The steady inventory numbers highlight efficient supply
alignment, especially in a climate where end-user demand continues to lead the
market.
Across Tamil Nadu, 84
residential projects were registered in Q1 2025, with 61% attributed to CREDAI
developers. Total residential unit registrations in the state reached 9,480
units, 90% of which were from CREDAI developers. Compared to Q4 2024, this
marks a 34% increase, and a 24% increase compared to Q1 2024. These numbers
reinforce the broader market rebound, led by strong participation from
established developers and an improving policy environment.
The market also
benefited from key Government initiatives including the announcement of Master
Plans for 136 cities, the launch of the Chennai Shoreline Revitalisation
Project, and the development of satellite towns. These moves are expected to
spur real estate activity beyond the core city and support long-term housing
demand.
The Government’s
focus on inclusive urban development through schemes and new infrastructure
investments in suburban corridors is enhancing liveability and making
homeownership more accessible to a wider section of the population. We are seeing measured optimism in the
market. Developers are taking a calibrated approach to new launches while
strengthening regulatory compliance. The result is a more mature, balanced
housing sector ready to scale with upcoming urbanisation,” said Mr. A Mohamed
Ali, President, CREDAI Chennai.
The recent reductions
in the repo rate and the Central Government’s revised income tax slabs will
further support buyer sentiment, particularly among
first-time home seekers. We expect this momentum to carry through
into the next quarter as well, especially with infrastructure-led locations
attracting renewed investor and end-user interest, said Mr Asalm P
Mohamed, Secretary, CREDAI Chennai.
The Q1 2025 report
released by CREDAI Chennai confirms that Chennai's residential market is in a
phase of strong recovery, with CREDAI members continuing to lead from the
front, shaping the sector with consistency, quality, and accountability.
