Chennai Hisotrical Demand vs Supply in Residential

Absorption activity in Chennai has seem some moderation; however overall trends remain healthy. Launch activity also has increased again and most southern developers (PEPl/SOBHA/PVKP) are looking to expand their presence in Chennai via JDA tie ups or new land acquisition. This given strong response to their launches last year. Unsold inventory has remained largely stable in the market (at 14 months) as demand is largely in balance with the supply. Pricing has witnessed marginal appreciation over the last few months. There are large project deliveries coming up in the market in CY13 from DLF, Puravankara, etc