Why is real estate in Chennai so costly?

Real estate in Chennai is more  expensive compare to the other states of the city. People prefer buying their new home than to go with a rented house. ...  As the city has a bright market value in the mere future, builders who offer apartments, price them in an higher range.

Chennai is not a costly market. Chennai is a place where you can buy a double bedroom apartment from 20 Lakhs to 1.5 crore.It all depends on the place you choose if you are buying a property in kelambakam OMR you can easily grab a double bedroom for 20 lakhs on the other side if you pick a  apartments in Adayar it will Cost you around 1.5 Crore. If you want a mid range then you can look into Perungudi where the property will be from 70 lakhs and wil end up  within a crore