CHENNAI: The city’s residential property market saw a sharp recovery in the first quarter of 2025, with unit registrations rising 88% quarter-on-quarter to 8,042, according to data released by Confederation of Real Estate Developers’ Associations of India (CREDAI) Chennai. The figure also represented an 11% year-on-year increase, signalling sustained momentum in buyer activity.
The members of CREDAI were responsible for 92% of total registrations in the quarter. The group registered 7,412 units in Q1, up 17% from a year earlier, according to the data. Sales volumes also improved, increasing by 7% from the previous quarter and 27% compared to Q1 2024, reaching 3,783 units. Buyer preference continued to tilt towards ready-to-occupy or near-completion properties.
Analysts attribute the buoyancy in part to recent monetary and fiscal measures, including a reduction in the Reserve Bank of India’s policy rate and revisions to income tax slabs that have boosted affordability, particularly for first-time buyers.
The number of new residential projects registered in Chennai stood at 61, down from 78 in the same period last year.
Unsold inventory in completed projects remained stable at 7,872 units, suggesting a relatively balanced supply-demand dynamic.