Over the last several years, the coastal corridor stretching along Chennai has undergone a significant transformation. What was once regarded primarily as a scenic drive dotted with holiday homes and weekend retreats has steadily evolved into a well-defined residential destination. This shift has been driven by a combination of expanding infrastructure, rising preference for premium housing, and growing long-term interest from end-users and investors alike. Connectivity has played a central role in shaping the corridor’s evolution. The stretch enjoys strong linkages to key parts of Chennai, including established residential neighborhoods such as Thiruvanmiyur and major employment hubs along the Old Mahabalipuram Road (OMR). These connections have made the corridor increasingly viable for daily commuting rather than just leisure use. Planned infrastructure enhancements, particularly the proposed elevated corridor connecting Thiruvanmiyur and Uthandi, are expected to further reduce travel time and strengthen accessibility, reinforcing the corridor’s residential appeal. Beyond transport, parallel infrastructure initiatives are adding institutional depth to the region. The upcoming convention and event infrastructure along the corridor is expected to elevate its profile as a destination capable of hosting large-scale cultural, corporate, and public gatherings. Such civic investments point to sustained governmental focus on the area and signal its importance within the city’s long-term urban development strategy. This shift is gradually expanding the corridor’s identity beyond that of a purely residential zone. Social infrastructure has also expanded considerably over the years. The presence of premium educational institutions, multi-specialty healthcare facilities, hospitality destinations, and organized retail developments has helped the corridor mature into a self-sustaining residential ecosystem. These additions have reduced residents’ dependence on the city core while improving overall quality of life. At the same time, the corridor’s relatively low-density development pattern, coastal breeze, and open surroundings continue to distinguish it from more congested urban pockets. Several micro-markets along the stretch, including Kanathur, Uthandi, and Injambakkam, have gained increasing traction among homebuyers. Demand in these areas is being driven largely by end-users seeking structured community living with long-term livability rather than speculative land investments. This change in buyer profile—from weekend investors to full-time residents—reflects the corridor’s growing maturity as a dependable housing destination. Residential developments along the corridor further underline this transition. Well-planned apartment communities offering modern amenities and proximity to the coast have witnessed sustained demand, indicating a preference for organised housing formats over standalone or unstructured developments. New residential launches in emerging pockets such as Kanathur suggest that the corridor is entering its next phase of growth, supported by both infrastructure readiness and end-user confidence. With multiple large-scale infrastructure initiatives underway and continued civic investments reinforcing the region’s long-term potential, the coastal corridor is increasingly being viewed as more than just a scenic stretch. It is steadily evolving into a structured residential belt that is expected to play a significant role in shaping Chennai’s premium housing landscape in the years ahead. 

he Reserve Bank of India (RBI) has decided to keep the repo rate unchanged at 5.25% in its February 2026 monetary policy review, bringing much-needed stability for home loan borrowers across the country. This decision comes at a time when inflation remains largely under control, though global economic uncertainties continue to pose risks. With no increase or reduction in the benchmark policy rate, home loan interest rates are expected to remain steady, ensuring that existing borrowers will not face any sudden changes in their monthly EMIs. For borrowers servicing long-tenure loans, this pause offers relief, as it prevents additional repayment pressure amid rising household expenses. As of 5 February 2026, home loan interest rates across major lending institutions broadly range between 7.10% and 10.25%, depending on factors such as the borrower’s credit profile, income stability, loan amount, tenure, and repayment history. Since most home loans are now linked to external benchmarks like the repo rate, the RBI’s status quo stance directly translates into EMI stability. For prospective homebuyers, the unchanged policy rate provides clarity on borrowing costs, enabling better financial planning. Stable interest rates allow buyers to confidently assess affordability, compare loan offers, and decide on optimal loan tenures without fear of near-term rate hikes. Existing borrowers can use this period of stability to review their loan structure, consider partial prepayments, or explore tenure adjustments to reduce overall interest outgo. Borrowers at the lower end of the interest-rate slab benefit the most, as policy continuity helps preserve competitive pricing. Overall, the RBI’s decision to hold rates steady signals a balanced policy approach—supporting economic growth while keeping inflation in check. For home loan borrowers, this translates into predictability, financial comfort, and improved planning flexibility during a period of global economic uncertainty.

Illegal or undisclosed mortgaging of land used for apartment projects is emerging as a growing concern in several cities, exposing homebuyers to prolonged legal disputes and financial uncertainty. In one such case along Anekal–Chandapura Road, residents of an apartment complex with 384 flats have spent years struggling to secure clear ownership rights. The dispute arose after the land and several flats in the project were allegedly mortgaged by the developer without the knowledge or consent of buyers. Under property laws governing apartment developments, once residential units are sold, the land and common areas are typically meant to be transferred to a cooperative housing society or an association of apartment owners. However, legal experts say delays in forming properly registered resident bodies often create loopholes that allow developers to retain control over the land long after the apartments have been sold. According to a legal professional associated with the matter, such delays can give developers the opportunity to continue using the property as collateral to secure loans. “If the residents’ association or cooperative society is not legally established and recognized, the developer technically retains control over the land records. This makes it possible to mortgage the property even after most flats are sold,” the advocate explained. Industry observers say this gap in the system is frequently exploited in real estate projects. In some cases, developers allegedly create proxy or defective associations that are capable of signing documents and entering into financial agreements. These entities can then be used to facilitate loans by mortgaging land or unsold units without the knowledge of the actual apartment buyers. Sources familiar with the sector claim that thousands of crores of rupees are raised through such arrangements across various Indian cities. Buyers often discover the issue only when attempting to register their flats or when legal disputes arise involving lenders or financial institutions. The situation at the apartment complex on Anekal–Chandapura Road highlights the consequences of such practices. Out of the total 384 flats in the project, only 242 have been officially registered so far. The remaining 142 buyers are still waiting for registration, despite having already paid between 90% and 95% of the total cost of their homes. Residents say the delay stems from incomplete construction and unresolved legal complications related to the mortgaged property. As a result, many homebuyers who invested their savings in the project remain uncertain about when they will receive full ownership rights. In 2025, the Karnataka High Court directed the builder to execute a conveyance deed transferring the project’s land and common areas to the cooperative society within 120 days. The conveyance deed is a crucial legal document that formally transfers ownership and control of the property from the developer to the residents’ body. However, according to members of the apartment community, the court’s directive has yet to be implemented. The cooperative society representing the residents has since initiated contempt proceedings, alleging non-compliance with the court’s order. For many buyers who booked their homes more than a decade ago, the situation has turned into a long and exhausting legal battle. What was once expected to be a straightforward purchase of a residential apartment has instead become a prolonged struggle to secure legal ownership of homes they believed they already owned. Legal experts say the case underscores the need for stricter oversight in the real estate sector, faster formation of legally recognized apartment associations, and greater transparency in property transactions to protect homebuyers from similar disputes in the future.

Despite growing financial independence and increased participation in the workforce, women continue to represent a small share of borrowers in the housing finance sector in India. Even though more women are earning stable incomes, pursuing professional careers, and contributing to household finances, their presence in the home loan market remains limited compared to men. Recent findings indicate that women account for only a small portion of approved home loans across major housing markets in the country. The share of women borrowers remains around 11 percent in 2025 across several large urban housing markets. This shows that the number of women applying for and receiving home loans is still relatively low despite broader social and economic progress. The data highlights a noticeable gap between women’s growing role in the economy and their participation in large financial commitments such as housing loans. While many women are financially active, they are less likely to be primary applicants for property financing. In many households, men continue to be listed as the main borrower even when women contribute significantly to the household income. Several factors contribute to this imbalance. One of the key reasons is traditional property ownership patterns in which homes are often registered in the names of male family members. Cultural norms in many parts of the country still influence financial decision-making, with men typically taking the lead in large financial transactions like purchasing property or applying for housing finance. Another important factor is income disparity. On average, women tend to earn less than men in many sectors, which can affect loan eligibility and borrowing capacity. Since home loans are typically large-ticket financial products that require strong income documentation and long-term repayment capacity, lower average incomes can limit women’s ability to qualify as primary borrowers. Employment patterns also play a role. Women are more likely to experience career breaks due to family responsibilities such as childcare or caregiving. These interruptions can affect credit history, income stability, and loan approval prospects. Lenders generally prefer applicants with consistent income records, which can unintentionally disadvantage women who have taken time off from their careers. Awareness and financial literacy are additional challenges. Some women may not be fully aware of the financial benefits associated with property ownership, such as tax advantages, lower interest rates for female borrowers, or government incentives designed to encourage women’s homeownership. In some cases, women may also feel less confident navigating complex financial processes like loan applications and property documentation. Despite these barriers, the situation is gradually improving. Increasing education levels, rising employment opportunities, and growing financial awareness among women are slowly encouraging greater participation in the housing finance market. Many financial institutions also offer slightly lower interest rates, reduced processing fees, or special schemes to encourage women to become homeowners. Overall, the current scenario reflects a transition phase. Women are becoming more financially independent and active in the economy, but their participation in high-value financial products such as home loans has not yet caught up with this progress. Bridging this gap will require continued efforts in improving financial inclusion, promoting property ownership among women, and addressing structural barriers that limit their access to housing finance.

Builders Challenge Construction Ban Near Wetland Area in High Court A real estate developers’ association on Tuesday approached the high court challenging an order of a green tribunal that prohibits construction activities within a 1km radius of a major marshland. The restriction will remain in force until a comprehensive scientific study identifying the wetland’s zone of influence is completed. Admitting the plea, a division bench of the high court directed the metropolitan development authority and the state forest department to respond to the petition within four weeks. According to the petitioner, the tribunal had earlier directed authorities not to grant approvals or permissions within the “zone of influence.” The association argued that the zone was arbitrarily fixed at 1km around the internationally recognised wetland boundary without scientific demarcation, statutory notification, or consultation with stakeholders. Following the tribunal’s order, the planning authority issued directions halting approvals, leading to what the association described as a sudden planning freeze across a large land area covering more than 8,000 acres spread across several villages within the city corporation limits. The petitioners stated that they are not seeking any dilution of measures aimed at protecting the marshland and its recognised wetland boundary. Their concern, they said, is only with the directive that prevents authorities from granting approvals in the zone of influence. The association further submitted that the area in question is already densely developed with metro rail infrastructure, information technology parks, government offices and other public utilities. The surrounding villages have also undergone significant urbanisation with long-established residential and commercial developments.

The city’s metro authority plans to develop about 73.4 lakh square feet of commercial space across at least 37 locations along its Phase-II metro corridors. This marks a major shift, as the development will extend beyond station premises into nearby land parcels. The initiative reflects a new urban development model where metro construction actively shapes city growth. The primary goal of this strategy is to monetize land assets, generate non-ticket revenue, and improve the long-term financial sustainability of the expanding metro network. By encouraging denser development within a 500-metre radius of metro stations, planners expect changes in commuting behavior, with more people opting for public transport instead of private vehicles. A key principle behind this approach is transit-oriented development, which focuses on increasing public transport usage and reducing road congestion. However, its success depends heavily on the quality of pedestrian infrastructure. Without safe, continuous, and accessible walking paths, commuters may continue to rely on personal vehicles despite proximity to metro stations. Several prominent residential, commercial, and transport-oriented locations have been identified for development, including areas near major temples, residential zones, IT corridors, and multimodal transport hubs. Planned projects include integrated commercial buildings connected directly to underground stations, as well as standalone commercial structures located within walking distance of metro access points. These developments are expected to form commercial clusters around transit nodes, increasing daily footfall and economic activity. At some locations, multi-storey buildings with direct station access are planned on relatively small land parcels, optimizing space usage while providing substantial built-up area. In residential neighborhoods, commercial buildings with basements are proposed, along with additional integrated structures nearby. Phase-II is significant because it is the first time large-scale property development is being undertaken beyond station footprints, following models seen in other major Indian cities. Construction is expected to begin at key terminal and depot locations, followed by work at other major junctions. Each property will be developed through design-and-build contracts. In earlier phases, development was largely limited to high-rise towers near central transport hubs, multimodal complexes, and leasing retail spaces within stations. Phase-II expands this model by pushing development into surrounding areas, reinforcing the idea that metro systems can act as anchors for urban growth rather than just transport infrastructure. Experts caution that while such developments can significantly boost ridership, their success depends on keeping mobility and accessibility at the core. Poor pedestrian access or unsafe walking conditions could weaken the intended benefits of transit-oriented development.

Residents in Nolambur and Maduravoyal are set to receive long-awaited relief as a newly constructed four-lane bridge across the Cooum River is expected to open within a week. The 150-metre bridge, built at a cost of Rs 4.5 crore (excluding land acquisition expenses), will directly connect Union Road—linking Maduravoyal and Mogappair—to Poonamallee High Road, significantly improving east–west connectivity in the area.

Final works on the project, including installation of streetlights and relaying the last stretch of bituminous road, are currently underway. Once completed, the bridge will replace the decades-old low-level causeway located about 20 metres away. Constructed in 1996, the causeway frequently submerges during monsoon rains and has long been considered structurally weak, particularly for heavy vehicles. During flooding, motorists are often forced to take a nearly five-kilometre detour via Mogappair to access an alternative four-lane bridge.

The new bridge is expected to reduce travel time by 10 to 15 minutes and provide seamless access to the state highway network. This improvement will benefit several residential communities and gated developments that have emerged in and around Nolambur and Maduravoyal over the years.

Authorities have also acquired approximately 4,396 square metres of private land to facilitate direct approach roads and improve traffic flow at both ends of the bridge. The structure is expected to ease congestion, enhance safety during the monsoon season, and provide a reliable all-weather crossing for thousands of daily commuters.

With Metro rail services set to begin soon on the 14.6-km Poonamallee–Porur stretch in Chennai, the State Highways Department has cleared a total of 3,214 long-standing encroachments along the busy Mount–Poonamallee High Road to ease traffic congestion and improve road safety. For more than a decade, nearly one-third of the 20-ft-wide highway—connecting the Poonamallee Bypass to Porur Junction—had been occupied by illegal buildings, extensions, pavement shops, and roadside vendors selling fast food and meat. These encroachments significantly reduced the usable road space and led to frequent traffic bottlenecks on one of the city’s key arterial corridors. During a recent inspection, it was observed that most roadside shops had been removed and building projections extending onto the carriageway had been demolished. The reclaimed space has considerably widened the road, allowing smoother movement of heavy vehicles and private cars. According to a senior official from the State Highways Department, the stretch witnesses close to one lakh vehicles every hour. “The original road width was around 20 feet. With the encroachments cleared, we are planning to widen it by an additional two to three feet. The work will begin in the coming days and is expected to be completed before April,” the official said. However, concerns remain over traffic management. Despite most of the Metro construction being completed, several junctions still lack proper diversion boards and clear traffic signals. Officials have been urged to install adequate signages along the entire stretch to ensure commuter safety and smooth traffic flow. The encroachment clearance and proposed road widening have been widely welcomed by commuters, as the measures are expected to reduce congestion, improve road safety, and allow freer movement of vehicles along the busy corridor.

The Chief Minister inaugurated a series of state energy sector projects worth Rs 1,971 crore through a video conference. These projects include the commissioning of 38 power substations designed to cater to the electricity needs of a major city and its surrounding suburban areas, the implementation of underground power supply systems in temple car streets across the state, and the electrification of a remote tribal village located in a hilly region.

Among the newly inaugurated infrastructure are a high-capacity 400/230 kV gas-insulated substation, two 230 kV substations established in different districts, and 13 smaller substations developed by the state power distribution utility at a total cost of Rs 1,067 crore. In addition, several existing substations were upgraded with the installation of additional power transformers, increasing the overall capacity to 4,649 MVA across 110 substations statewide.

To ensure uninterrupted power supply and improve public safety during festivals, religious events, and public processions, underground power supply systems were also inaugurated in temple car streets of major temples across the state. These initiatives aim to enhance power reliability, reduce outages, and minimize risks associated with overhead electrical lines, while supporting overall urban and rural development.

In a New Year bonanza for property owners, the Tambaram City Municipal Corporation has reduced charges for name changes in property tax records and introduced a uniform fee structure with effect from January. Until now, charges were calculated based on the market value of the property, often resulting in residents paying anywhere between Rs 15,000 and Rs 40,000, depending on the size and value of the property. Under the revised system, a flat fee of Rs 500 will be charged for residential properties, while non-residential or commercial properties will attract a fee of Rs 1,000. The move brings Tambaram in line with the Greater Chennai Corporation, which already charges Rs 500 for property tax name transfers. Adopting a similar model is expected to significantly reduce costs for people purchasing property within Tambaram Corporation limits. The revision follows a government order under the updated Tamil Nadu Urban Local Bodies rules, which standardize property tax name transfer fees across the state from January. Residents, particularly in areas such as Chromepet, had earlier raised concerns about being asked to pay high amounts based on property value. In several cases, revised assessments led to sharp increases in half-yearly property tax, creating confusion despite earlier assurances that previous dues would be waived. The new uniform fee structure is expected to address these issues and bring greater clarity and relief to property owners.

The rising participation of women homebuyers is emerging as a defining trend in Chennai’s residential real estate market, driven by factors such as financial independence, a growing sense of personal security, and a long-term investment outlook. This shift was evident at a recently held three-day property exhibition, where one out of every three home bookings was made by women buyers. The trend highlights a steady increase in independent ownership and property investments among women professionals, reflecting their expanding role as primary decision-makers in real estate purchases. Many women buyers are showing a preference for 1 BHK and 2 BHK homes, prioritizing practical layouts and affordability. Connectivity and neighborhood safety remain key considerations, with buyers gravitating toward well-connected localities that offer a secure living environment. For several women, homeownership is also viewed as a stable investment option that provides long-term financial security. Another important factor influencing this trend is the challenge women face in securing rental housing in the city. As a result, many prefer to channel their monthly expenses toward equated monthly installments EMIs for their own homes rather than spending on rent and large advance deposits. This approach offers both emotional reassurance and asset creation. Apartments emerged as the primary revenue driver at the exhibition, generating over Rs 251 crore from 190 unit bookings. Among apartment configurations, 2 BHK homes remained the most popular choice, accounting for nearly half of total bookings. 3 BHK units followed closely, contributing a significant share of bookings while generating the highest revenue within the apartment segment. This pattern points to an ongoing upgrade cycle, with families increasingly opting for larger homes that offer more space, flexibility, and comfort. From a location perspective, southern suburbs of the city dominated apartment sales, accounting for nearly half of the total bookings. Plotted developments also continued to attract steady interest, particularly in emerging growth corridors. Strong buyer demand was observed along OMR, GST Road, and ECR, driven by ongoing infrastructure development, improved connectivity, and expectations of long-term capital appreciation. Overall, the increasing presence of women homebuyers is reshaping demand patterns in the city’s residential market, influencing housing preferences, location choices, and investment behaviour.

Home Loan Interest Rates Overview – February 2026

Planning to take a home loan requires careful evaluation, as interest rates can vary significantly depending on the lender and the borrower’s profile. Across the country, lenders offer a broad range of home loan interest rates influenced by factors such as credit score, income stability, loan amount, tenure, and repayment history. Because loan terms and pricing differ, comparing available options thoroughly is essential to secure the most suitable and cost-effective deal.

At present, home loan interest rates in the market generally begin at around 7.10% per annum for borrowers with strong credit profiles and can go up to approximately 11.90% per annum for higher-risk or specialized cases.

Current Interest Rate Ranges (Indicative)

• Several lenders are offering starting rates of about 7.10% p.a., with upper limits ranging between 9.15% and 10.25% p.a.

• Some options fall within a mid-range bracket of 7.15% to 9.55% p.a., depending on borrower eligibility and loan conditions.

• A few lenders provide home loans beginning at 7.45% to 7.75% p.a., with no fixed upper cap disclosed, as rates may rise based on risk assessment.

• Other offerings start between 7.80% and 8.00% p.a., with maximum rates extending up to 9.30% to 11.90% p.a.

What Borrowers Should Know

• Lower interest rates are typically available to applicants with high credit scores, stable income, and lower loan-to-value ratios.

• Higher rates may apply to borrowers with lower credit scores, longer tenures, or non-standard income profiles.

• Interest rates may be floating or fixed, and can change over time based on market conditions and policy decisions.

Before finalizing a home loan, borrowers should compare interest rates, processing fees, prepayment terms, and flexibility in repayment to make an informed decision that aligns with their long-term financial goals.