I am planning to buy an apartment in Southern Chennai, India. I searched in a leading property website 99acres.com and wondering about some results.

I searched all residential buildings+land in the area Chennai - South.

There are around ~15000 results for resale ( old property ) and just ~1500 results for new apartments/buildings.

Resale vs new property ratio is almost 10:1.

Please refer to this link.

It seems many people are trying to sell their property? It yes, why?

This trend is worrying me as a person planning to buy there. Is people want to get rid of South Chennai?

  • Maybe it’s the floods. – AffableAmbler Jul 4 '19 at 16:34
  • That was in 2016, but now people struggling for water. – NiceGuy Jul 4 '19 at 16:38
  • What is the total number of housing units in this city? That number is more important than the ratio of existing to new home sales. – JTP - Apologise to Monica Jul 4 '19 at 17:16

Chennai has had a run of bad luck: floods, cyclones, and most recently, an acute and critical water shortage. You really might want to reconsider buying there until the water crisis is resolved.

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  • 1
    Or buy now while the prices are low. – RonJohn Jul 4 '19 at 18:36
  • 3
    @RonJohn maybe, but then you are making a bet on climate trends and human responses to them. Buying real estate in a city of several million people without a reliable water supply and no plans on the table to fix the problem seems like a pretty risky investment. Which is presumably why people are selling. – Charles E. Grant Jul 4 '19 at 19:18

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