Latest News | Improved Infrastructure, Cut in Repo Rates, Ready to Occupy Units Aid Market Recovery: CREDAI

Chennai, May 4 (PTI) The residential real estate market in the city and its neighbourhood has commenced 2025 on a positive note with a strong recovery and increasing buyer confidence, a report by the industry body CREDAI said.

Sharp growth in registrations, steady sales of the residential units and a resilient housing market has emerged in the January-March 2025 period, the study prepared by the Confederation of Real Estate Developers' Associations of India (CREDAI), Chennai said on Sunday.

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Projects nearing completion or ready-to-occupy continued to be the preferred choice among buyers, it said.

The recent reduction in the repo rate by the Reserve Bank of India and the Central government's revised income tax slabs has further supported buyer sentiment, particularly among first time buyers, the report said.

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Sales of residential units grew 7 per cent quarter on quarter to 3,783 units during the three month period while it was 27 per cent growth year-on-year. Southern suburbs accounted for the majority of the project registrations with the demand being driven by the improved infrastructure, Metro Phase II project, among others.

Areas like Parandur where the proposed airport is expected to come up, Minjur, Chengalpattu and Sriperumbudur were also largely preferred by the buyers. "These locations are expected to witness continued momentum in the coming quarters," it said.

CREDAI Chennai President A Mohamed Ali said, "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," he said.

The total residential unit registrations across Tamil Nadu stood at 9,480 units during the January-March 2025 quarter, marking a 24 per cent increase quarter on quarter. These numbers reinforce the broader market rebound, led by strong participation from established developers and an improving policy environment, the study said.

"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" commented CREDAI Chennai Secretary Aslam Packeer Mohamed.

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