Chennai remains the most expensive real estate market in South India
Chennai remained the most expensive real estate market in South India. Among major cities Chennai, Hyderabad, and Bangalore, the price of real estate has firmed up in several posh locations. Real estate market review by ANAROCK Property Consultants....
Out of the three major southern cities tracked (Chennai, Hyderabad, and Bangalore), only micro-markets in Chennai qualify for the list of the top 10 most expensive luxury residential markets in India:
Nungambakkam - 4th place - INR 18,000 per sq. ft.
Egmore - 5th place - INR 15,100 per sq. ft.
Anna Nagar - 7th place - INR 13,000 per sq. ft.
Interestingly, the average built-up size of the premium units in Chennai is about 17% larger than those in MMR. In Chennai, luxury apartment sizes are in the range of 2,190-2,890 sq. ft.
No localities in Bangalore and Hyderabad make it to the top 10 list. However, if we consider data in the primary market:
Rajajinagar is the most expensive luxury market in Bangalore with luxury properties commanding a price of INR 11,500 per sq. ft., followed by Koramangala with avg. prices of INR 10,600 per sq. ft. and Jagjeevanran Nagar with INR 10,000 per sq. ft.
Madhapur is the most expensive luxury market in Hyderabad at INR 6,500 per sq. ft. for luxury homes, followed by HITECH City and Gachibowli with avg. property prices INR 6,200 and INR 5,700 per sq. ft.