Chennai

Private equity inflows into Chennai real estate market dip 45% in 2019: study

Photograph used for representational purposes only

Photograph used for representational purposes only   | Photo Credit: istock

more-in

Inflows declined to $370 million in 2019 from $675 million in 2018, according to a study by ANAROCK Property Consultants

Private equity players largely steered clear of the Chennai real estate market in 2019 -- the city saw inflows decline by 45% when compared to last year, according to study by a real estate consultant.

Private equity inflows into the Chennai real estate market declined to $370 million in 2019 from $675 million in 2018, according to ANAROCK Property Consultants Pvt. Ltd. However, the difference between the two years is that one of the deals was large in value terms in 2018. Mapletree Investments invested over $350 million in SP Infocity in one single large deal in 2018, Shobhit Agarwal, MD & CEO – ANAROCK Capital, said.

“The decline in total inflows in Chennai in 2019 doesn’t really reflect any losing interest of the private equity players. Such a decline in overall inflows is inevitable because there are years when large deals (in value terms) happen and in others smaller ones,” he added.

For instance, he pointed out in 2018 five private deals happen in the city, during the year and similarly in 2019 also the same number of deals materialized.

Overall, Indian real estate attracted more than $5 billion private equity inflows in 2019 -- recording a marginal drop of 2% against the preceding year, the study said. Of the total, the Mumbai Metropolitan Region and Delhi New Capital Region together received close to $2.7 billion.

Why you should pay for quality journalism - Click to know more

Related Topics Chennai
Recommended for you
This article is closed for comments.
Please Email the Editor

Printable version | Jan 20, 2020 5:45:20 AM | https://www.thehindu.com/news/cities/chennai/private-equity-inflows-into-chennai-real-estate-market-dip-45-in-2019-study/article30511713.ece

Next Story