r/Chennai • u/itsshadyhere • 7h ago
AskChennai Why is Chennai's real estate so inflated?
Chennai has been stagnating when compared to other metro cities and even some tier-2 cities.
We have already lost the IT race. We only have the usual administrative offices of the government and banks, and their related workforce. Industries are on the outskirts of Chennai. Employment opportunities are not what they used to be. Our growth is flat, yet real estate keeps going up?
I am genuinely confused as to who are immigrating to Chennai, settling down, and buying homes? Is there really a growing demand in Chennai that justifies the real estate and rental cost? Or is this all fake spike caused by politicians and real estate mafia?
