Learn more by clicking our most recent Chennai MarketBeat reports on the various sectors below.
Chennai MarketBeat Reports
21/10/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
CURRENT MARKETBEAT
Chennai Office Report
Chennai office market recorded a gross leasing volume of 1.8 MSF, a 2% q-o-q growth, driven by the south-west (57%) and suburban south (26%) submarkets. GCCs comprised 36% share, indicating a 17% q-o-q growth. Flex workspace operators accounted for 38% share, followed by BSFI (24%). YTD net absorption surged to 2.16 MSF, due to new supply coming up with high pre-commitments. Overall city rentals rose by 6% y-o-y.
Chennai Retail Report
Chennai’s main streets recorded leasing of 0.13 MSF in Q3-24, a 28% q-o-q growth, with Suburban South leading at 51%. Fashion drove demand, comprising 39% of Q3 leasing, followed by CDIT (18%). Prominent malls in the CBD, Suburban South and Peripheral South accounted for ~96% of Q3 mall leasing. Superior malls continued to enjoy tight vacancies of 1%-3%. Rental growth of 8-12% q-o-q was seen in Anna Nagar 2nd Avenue, Pondy Bazaar, and Usman Road – North, and 4-6% y-o-y in Nungambakkam High Road, Cathedral Road, Chromepet, OMR, and ECR.
Chennai Residential Report
Chennai residential market saw ~6,000 unit launches, a 19% q-o-q growth. Suburban South II submarket led with a 42% share, followed by Suburban South I (26% share). The mid-segment held 52% share, while high-end and luxury segments captured 32%, showing 71% q-o-q growth Affordable segment comprised 16% share, ~2X the volume of Q2-24. Rental values for mid-segment units in Off-Central I & II and Suburban South I & II rose by 2-3% q-o-q, while capital values in Off-Central II, Suburban South I & II and Suburban North rose by 4-8% y-o-y.
Chennai Industrial Report
Chennai saw warehouse leasing volumes of 2.14 MSF. Oragadam submarket dominated with 57% share, followed by Madhavaram (16%) and Irungattukottai (14%). Logistics/3PL sectors led with 41% share, followed by automobile sector (23% share). Industrial leasing stood at 1.04 MSF. Oragadam, Irungattukottai and Sriperumbudur comprised 81% of leasing volume. Oragadam, Madhavaram and Periyapalayam saw 4-5% y-o-y rental growth. Poonamallee submarket saw 8% rental growth over H1 2023.
India Capital Market Report
Q2 2024 witnessed massive investment inflows amounting to INR 231.5 Bn (USD 2.77 Bn), marking a 1.5x q-o-q growth. The Logistics & Industrial (L&I) segment led with 56% share.
RELATED INSIGHTS
Article
Aditya Birla Fashion and Retail Limited Chennai
Adyar is a very prime & sought-after high street in Chennai and therefore a short-supply market. Aditya Birla Fashion and Retail Limited (ABFRL) was looking out for a property to set up their store in the area.
18/06/2021
Article
Tata Cromā, a leading consumer electronics and durable retail chain in India, wanted to open a new store in Guntur.
17/06/2021
Article
Cushman & Wakefield retail team successfully transacted 13,000 SF flagship store for Citroen. In addition to be their first showroom in Mumbai, it also is their largest in India.
Anoop Vasudeo • 16/06/2021