Chennai, India
Property prices · 2024 · Asia
Property price trend in Chennai (2024–2026)
Property comparison — cities in India (2024)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs Chennai |
|---|---|---|---|---|
| Chennai | INR 95,000 | INR 62,000 | INR 28,000 | — |
| Mumbai | INR 185,000 | INR 95,000 | INR 35,000 | +94.7% |
| Delhi | INR 150,000 | INR 98,000 | INR 38,000 | +57.9% |
| Bangalore | INR 95,000 | INR 58,000 | INR 22,000 | 0% |
| Hyderabad | INR 90,000 | INR 58,000 | INR 28,000 | -5.3% |
| Pune | INR 85,000 | INR 55,000 | INR 25,000 | -10.5% |
| Kolkata | INR 70,000 | INR 45,000 | INR 20,000 | -26.3% |
| Ahmedabad | INR 55,000 | INR 36,000 | INR 16,000 | -42.1% |
Other Asia cities (2024)
Frequently asked questions
How much does property cost in Chennai in 2024?
In Chennai, the average price per sqm in the city centre is INR 95,000, and INR 62,000 outside the centre (2024 data). Prices have risen 11.5% since 2024.
How much is rent in Chennai in 2024?
A 1-bedroom apartment in Chennai rents for approximately INR 28,000 per month in 2024. A 3-bedroom apartment costs around INR 45,000/month.
Is it better to buy or rent in Chennai?
Buying and renting are roughly comparable in Chennai. The price-to-rent ratio is 18.0x — it would take approximately 18.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 8.50%.
What are mortgage rates in India in 2024?
The average mortgage rate in India is approximately 8.50% as of 2024. With a price-to-rent ratio of 18.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in Chennai?
The average property price per square metre in Chennai city centre is INR 95,000 in 2024. Outside the centre, expect to pay around INR 62,000/sqm.