Chennai’s real estate market is in a period of consolidation. The maturing market landscape with steady growth in the city has attracted many investors and builders. What’s interesting to note is the wave of residential plots in Chennai as part of planned townships by top real estate developers.

A few decades ago, there was an obvious shift from residential plots to ready-to-move apartments among buyers. Chennai’s real estate market has covered a full circle. We can see a rising number of residential plots in Chennai. There are many reasons for the increase in the demand: -

Higher Appreciation Value

As per recent reports by The Economic Times, the prices of residential plots in Chennai have increased by 7% annually since 2015. The chances of continuation of this trajectory are very high. There are many reasons for land appreciation, including the scarcity of plots in big cities, flexibility of construction in Chennai, and more. Top builders have several residential plots for sale in Chennai in strategic locations that have attracted many plot buyers.

Land Prices in Chennai

Land prices in prime and developing localities are lower than in ready-to-move apartments. Top builders offer CMDA-approved plots with clear titles to plot buyers. The price calculation is per square foot. The per square feet value of the plot depends on the locality, position, and amenities the builder offers. Moreover, the buyer’s confidence comes from the moderate growth of the city’s real estate market.

Rise of Micro-Markets

There are many emerging localities in Chennai with new establishments. Plot buyers are using this opportunity to buy a piece of land for residential construction. The micro-markets offer an affordable and superior standard of living. Localities like Avadi, Chrompet, and Guduvanchery are very popular.

Leading builders in Chennai have acres of land aggregation projects offering basic amenities for a safe and secure community life. Plot buyers looking for affordable investment are all for plotted development. It gives them the flexibility to construct a house as per their requirements.