TRICHY: With rising calls to designate Trichy as the state’s second capital, residential flat prices in key locations have surged, often exceeding those in parts of Chennai. Land prices have increased nearly 25% in the last two years, with premium flats now starting at over Rs 1.5 crore. Developers report sustained interest from buyers in high-end apartments, featuring larger floor plans and modern amenities, driven by improvements in the city’s infrastructure.
Real estate professionals attribute the sharp rise in land prices to significant investments in public infrastructure, such as Tidel Park and industrial estates, as well as airport expansion and potential privatization efforts. Furthermore, rising input costs have contributed to elevated flat prices throughout the city.
Until 2023, luxury housing projects in Trichy were mainly centered in areas like Annamalai Nagar and Woraiyur. However, premium flats are now also available in Cantonment, KK Nagar, Crawford, and Puthur, with prices ranging from Rs 1.5 crore to Rs 2.1 crore.
“Previously, a budget of Rs 90 lakh could yield a 3BHK flat, but now that amount only affords a 2BHK in a developing area. Builders are creating spacious flats with extensive amenities, prompting buyers to invest in their ideal properties,” stated S Anand, managing partner of Jeyam Builders. He noted that luxury flats priced up to Rs 5 crore have been sold, with wealthy entrepreneurs from nearby towns like Perambalur investing in premium properties for better private healthcare access and long-term asset retention.
“The supply and demand for residential flats in Trichy are nearly balanced at this point, resulting in very few unsold units. New developers are entering the market, as Trichy’s real estate sector is growing, ranking just behind Chennai and Coimbatore. This has sparked a rise in luxury projects,” explained V Gopinathan, vice-president of Credai Tamil Nadu.
Over ten luxury housing projects, including those from Chennai-based developers, are slated for development. NRIs and professionals nearing retirement are increasingly buying flats in regions like Srirangam and KK Nagar as investment opportunities.
“There remains a significant need for more housing projects. Companies looking for office space in Panjapur Tidel Park are inquiring about ready-to-occupy homes. The anticipated private tech parks and new private super specialty hospitals will further escalate housing demand from tech workers and medical professionals over the next two years,” stated Anupam S, MD of A-Steorra Realty, a TNRERA-registered agency.
Developers have observed a growing preference for compact 3BHK units with enhanced floor areas, influenced by hybrid work trends following the COVID-19 pandemic. They suggested that the influx of new builders and developments may stabilize property prices moving forward.
