Report finds how WFH and online classes influenced Chennai home buyers’ choice | Chennai News – Times of India

CHENNAI: The demand for spacious homes and second homes picked up in Chennai in first half 2021 due to pandemic-induced work from home and the digital studying trends, a report by a property consultant has found.
The Rs 25-50 lakh million and Rs 50-75 lakh ticket-size categories emerged as popular choices during this period, according to Knight Frank India ‘s half yearly report on India Real Estate (January – June 2021) released on Thursday. The city-level average residential prices recorded a 2% dip in first half year of this year compared to the same period in 2020, it said.
Launches and sale of new housing units increased in the past six months between January and June this year when compared with the corresponding period of 2020.
While the city’s real estate market had sale of 2,981 units in the first six months of last year, it recorded 5,751 units being marketed during the same period in 2021,.
According to the report, Chennai residential market witnessed a slow demand and supply momentum during the first half of this year due to a lull in the second quarter of 2021. However, the market performed better this half year compared to the same period in 2020 owing to the low base of the second quarter of last year.


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