Godrej Properties bought 47 acres off OMR for a plotted residential project, while Arihant Foundation and Housing acquired a prime Anna Salai site, adjacent to the Hyatt Regency for a boutique Grade A office development. TVS Emerald signed a JDA for a 4-acre residential project in Noombal.
According to property consultant Anarock, Chennai saw 5300 new residential project launches, with 23 per cent priced above Rs 1.5 crore in the second quarter of calendar year 2026. However, this is a decline when compared to last year. Chennai has available inventory of 33,700 units and the average price is around Rs 7250 per square feet.
In the commercial space, the Global Capability Centres (GCCs) continue to dominate. According to Anarock, GCCs share stood at 1.75 million sq. ft.or 55 per cent of the total 3.2 million square feet office space absorption in Chennai in the first-half of calendar year 2026. Clearly, both the residential and commercial residential markets in the city are going steady. Interestingly enough, now developers are also tapping into the potential of North Chennai in the residential segment.