Chennai localities witness moderate to static realty growth: NHB

Chennai: According to a National Housing Board (NHB)’s report, Chennai real estate market has seen a moderate growth in key areas during the months of October-December 2013 and has clocked an overall 3.77 per cent growth during the period.

NHB’s Residex for the quarter ended December 2013 has indicated that the southern metropolis has scored 330 points compared to 318 during the previous quarter in the 100-scale index.

While Perambur; Choolai, Edapalayam, which comes under Zone 2 and Ashok Nagar; Thyagaraya Nagar; Saligramam, which comes under Zone 8 have recorded more than 10 per cent growth in property prices in one singe quarter, Ayanavaram; Purasawalkam; Kolathur of Zone 4, Chetpet; Egmore (Zone 7), Dr Radhakrishnan Nagar (Zone 1) and Kodambakkam, Guindy and  Chromepet (Zone 9) did not show any appreciation in capital value during the record period, says the report.

To assess the growth of property value in various parts of Chennai, NHB has divided the city into ten zones.

Mylapore,  Adyar,  Velachery and Thriuvanmiyur, which form several posh localities, have recorded moderate growth during the period.