Chennai's East Coast Road sees capital values rise 64%

The East Coast Road continues to have a high preference amongst buyers due to its connectivity to the Rajiv Gandhi Salai and quality offerings

Chennai witnessed a steady appreciation in the capital value in both mid and high-end segments during the past three years. The city ranked third in the mid-segment with the capital values appreciating 27 per cent since 2011.

According to the latest report from global real estate consultants Cushman & Wakefield, driven by the end-user demand, capital values in the mid-segment at Velachery grew approximately 56 per cent in the last three years due to the presence of good physical and social infrastructure.

The report also stated that the demand has remained vibrant in the high-end segment with the average capital values appreciating 34 per cent from 2011.

In the high-end segment, the East Coast Road (ECR) witnessed the highest capital value appreciation of 64 per cent followed by Anna Nagar at 49 per cent. ECR continues to have a high preference amongst buyers due to its connectivity to the Rajiv Gandhi Salai and quality offerings. Anna Nagar also witnessed continued demand that aided the increase in high-end segment capital values.

Locations such as RA Puram, Alwarpet and Adyar also witnessed capital value appreciation to the tune of 45 per cent in the mid-segment and 40 per cent in the high-end during the past three years, primarily due to continued end-user demand for residential units.