{"id":18863,"date":"2013-06-17T05:45:52","date_gmt":"2013-06-17T05:45:52","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=18863"},"modified":"2020-06-15T04:04:56","modified_gmt":"2020-06-14T22:34:56","slug":"18863-chennai-has-40000-units-of-unsold-houses","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/18863-chennai-has-40000-units-of-unsold-houses\/","title":{"rendered":"Chennai Has 40,000 Units of Unsold Houses"},"content":{"rendered":"

\"chennai\"Chennai<\/strong>: It seems that the number of unsold houses in all of the major Indian cities is on the rise. Chennai at present has 40,000 units of unsold houses which is equal to around 10 months of inventory. If this sounds bad then possibly other cities are doing much worse. According to a study conducted by Jones Lang LaSalle it has been found that Mumbai tops the list of inventory of unsold houses (34 months) followed by Bangalore (23 months), Pune (14 months), Gurgaon (14 months), Hyderabad (12 months) and Kolkata (12 months). Therefore Chennai has the lowest inventory compared to other cities.Anuj Puri, Chairman and Country Head of Jones Lang LaSalle said that the lull in the residential property market is chiefly due to the spurt in real estate prices. Chennai has witnessed a 15-20% rise in capital values over the last 6 months which has caused the inventory to rise from 25,000 in the beginning of 2012 to 40,000 in the last six to nine months.Prices of residential projects have gone up for various reasons. Puri said, “The anticipation of interest rate cuts further into the year and home buyers’ expectations on price stability has reduced sales velocity.” More people have also invested in real estate rather than in stock exchange as the former is considered more stable during an inflation. Chennai, being a price-sensitive market, has failed to make house sales.Development of infrastructure projects in Chennai<\/a> has also caused the rise of house prices in prime areas. The metro rail, Phase III of MRTS from Velachery to St Thomas Mount is about to be completed. The Outer Ring Road will make road connectivity even better. The peripheral Ring Road project, proposed monorail, Greenfield Chennai-Bangalore Expressway and the new Greenfield airport are major factors triggering the capital value appreciation in Chennai. \u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a>\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Chennai: It seems that the number of unsold houses in all of the major Indian cities is on the rise. Chennai at present has 40,000 units of unsold houses which is equal to around 10 months of inventory. If this sounds bad then possibly other cities are doing much worse. 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