Trend Shifted from larger to small houses in Chennai
According to RBI Survey, Borrowers looking for small houses in chennai because of a sharp rise in Prices in last year. Agency reported a sharp 11.2% hike in property prices in last fiscal.
If we are talking about other cities like Delhi, Mumbai home have become cheaper. Only chennai people looking for small houses.
As per RBI Report Data of Chennai
| Period |
Loan percentage |
| Till September 2014 | 24% for small houses |
| 46% for medium houses | |
| 30% for large houses | |
| September to December 2014 | 48.9% for small houses |
| 27.5% for medium houses | |
| 23.5% for large houses |
Read More: Home Loans in India
Read More: Home Loan Eligibility
“The trend for homes has changed in Chennai undeniably in the last two quarters. Till recently most of the builders were focussed on the soft layer and constructing ultra, deluxe and large apartments with various extra facilities like swimming pool and gymnasiums. But from last two quarters builders shift their focus on lower and medium middle houses or apartments which is built on 750 sq ft area homes which helps people to easily accommodate or buy new houses under budget.
Other reason behind increase in demand for small houses / apartments is the sharp increase in home prices due to high charges on construction material.
