Chennai: High on safety, low on living costs
The Detroit of India - Chennai houses more than one-third of India’s automobile and auto part industries. Although the city ranks high on safety, it still enjoys a comparatively low cost of living. A gateway to South India, Chennai is connected to all major destinations by air and road, and for cross-city connections, metro rail and taxi serve its residents.
While maintaining its rich heritage, the city is evolving fast due to industrialisation, resulting in increased job and business opportunities and driving demand in the residential sector. Attractive financial schemes, such as small or no down payments, along with the city’s growing infrastructure, are major draws for home buyers.
Chennai is one of the few Indian metropolitans witnessing significant and stable year-on-year sales, new launches and rent yields. Despite the pandemic, 2500 apartments in Chennai were launched, up 59% in Q4, compared to 1570 units in Q3.