Looking for cheaper homes? Chennai sees price cuts, reduced unit sizes

New launches in the city during the first half of 2018 were the highest in 3 years; developers focusing on offloading existing inventories by re-launching old products at lower prices

Even as the country’s real estate market has been set back by a prolonged phase of demand slowdown, the residential property segment in Chennai saw some 6,520 units being launched during the first six months of 2018. This was the highest number in the past three years.

The year 2017 was a volatile one for Chennai’s real estate market, with the first half showing some green shoots. The second half, however, hit new lows in terms of sales and supply. But this again seems to have reversed in the early months of 2018, with the Chennai market now holding around six