CREDAI optimistic about Chennai real estate sector-OxBig News Network

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The number of residential units registered in Chennai during the first quarter of 2025 stood at 8,042, reflecting an 11% rise compared to the same quarter in 2024.

Around 7,218 units were registered during the same period in 2024, according to a report released by theConfederation of Real Estate Developers’ Associations of India (CREDAI) Chennai. Notably, CREDAI Chennai members accounted for 92% of these registrations, up from 6,346 in Q1 2024 to 7,412 in Q1 2025—a 17% year-on-year increase.

The report also said that sales momentum remained steady with 3,783 units sold in Q1 2025, up 7% quarter-on-quarter and 27% year-on-year from 2,983 units sold in Q1 2024. Of these, CREDAI developers accounted for 80% of the sales volume.

Projects nearing completion or ready-to-occupy continued to be the preferred choice, reflecting an increasingly discerning buyer base focused on quality and timely delivery. The recent reductions in the repo rate and the Central government’s revised income tax slabs have further supported buyer sentiment, particularly among first-time home seekers.

Project registration activity remained stable, with 61 new residential projects registered in Chennai during the quarter. This marked a slight moderation from the 78 projects recorded in Q1 2024.

CREDAI in its report also noted that as of March 2025, unsold residential inventory in completed projects stood at 7,872 units, reflecting stable levels compared to the previous quarter. CREDAI members held 5,937 of these units.

“The government’s focus on inclusive urban development through schemes and new infrastructure investments in suburban corridors is enhancing livability and making homeownership more accessible to a wider section of the population. We are seeing measured optimism in the market,” A. Mohamed Ali, President, CREDAI Chennai, said.. “Developers are taking a calibrated approach to new launches while strengthening regulatory compliance,” he added.

“The recent reductions in the repo rate and the Central government’s revised income tax slabs will further support buyer sentiment, particularly among first-time home seekers. 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,” said Asalm P. Mohamed, Secretary, CREDAI Chennai.