Office: The Chennai office market witnessed a healthy leasing volume of 1.69 msf, dominated by fresh leasing contributing to 98% to GLV unlike the previous quarters in the year. IT BPM continued to be the highest contributor with 39%, flexible workspaces and engineering & manufacturing accounting for 28%, cumulatively. The city witnessed a robust leasing activity of 7.68 msf – a 21% growth compared to the previous year. Download the recent Chennai MarketBeat reports below.
Residential: In Q4 2022, Chennai’s residential sector witnessed a launch of 4000+ units, resulting in significant growth of 48% on a q-o-q basis and nearly double the launches recorded at the same time in 2021. Mid-segment continued to dominate unit launches with a 55% share in quarterly launches. Download the recent Chennai MarketBeat reports below.
Retail: In Q4 2022, Chennai’s retail sector witnessed a quantum leap in main street leasing, a leasing volume of 0.11 msf recorded a nearly 2.8X growth from the previous quarter. The leasing activity was mainly driven by F&B retailers with a 31% share followed by fashion & apparel with a 27% share. With high footfalls being recorded in F&B outlets, retailers are on an expansion spree.
Learn more by clicking our most recent Chennai MarketBeat reports below.
