In 2016, there were more than 5,000 apartment units in the capital, according to the city’s official statistics.
But according to a recent report from The Times of India, many of those units are now empty.
This year, there are just more than 1,200 apartments in the city.
While many apartment owners and developers are seeking a return on their investment, the number of apartment units currently in the system is far lower than in other major cities.
The country’s capital is home to more than 20 million people, according the census.
This means that an apartment is likely to be occupied only a few times a year in a city of this size.
The report cites three reasons why this is the case: lack of affordable rental space in the metros, lack of rental housing in the metropolitan areas and lack of an affordable market for affordable housing.
The number of affordable apartments in Chennai is far below the national average of 20,000 apartments per 1,000 people, The Times points out.
Renting an apartment can be expensive in Chennai, where the average rental price is ₹10,000 (around $1,500).
This means the cost of living is among the highest in the country.
The metro areas of Chennai and Andhra Pradesh have seen similar price hikes, according The Times.
Some of the problems facing the market are not new.
In 2014, there was a shortage of affordable rentals in the cities of Chennai, Tirupati and Kollam, as well as in the state capital, Hyderabad.
In April, the state government announced that a new housing scheme, The Housing Mission, would be launched in 2019 to provide subsidized housing to those who have no other place to live.
However, there has been little progress to date, according TOI.
Despite these issues, apartment rentals in Chennai have increased by almost 60% in the last three years.
In the next few years, the city may see more apartments as more people want to live in the urban core.
It is also unlikely that the housing shortage will disappear completely.
According to the Urban Housing Institute of India (UHI), the government has already committed to build over 40,000 new housing units in urban areas by 2022.
This article was originally published on October 1, 2018.