Chennai luxury segment declining: JLL
Job market slump and poor increments seem to have hit the residential real estate of Chennai.
According to international realty firm Jones Lang LaSalle (JLL), suburban Chennai’s residential apartment market is taking the hit with premium and luxury segment are the worst hit.
Still, many developers feel that Chennai realty is better off than some other major cities of India. In Chennai, the supply was low last year, due to delay in according approvals to residential projects. However, the current year has seen many new projects launched in the market.
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