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?