Learn more by clicking our most recent Chennai MarketBeat reports on the various sectors below.
Chennai MarketBeat Reports
15/01/2025
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 2.1 MSF, a 20% q-o-q growth, driven by the Suburban South (41%) and the South-west (21%). Net absorption stood at 0.3 MSF. Global Capability Centers (GCCs) comprised 42% of Q4 demand, a 39% q-o-q increase, while engineering & manufacturing and BFSI, contributed 31% and 22%, respectively. Grade A supply of ~0.93 MSF was witnessed with 60% concentrated in the North-west submarket. City-wide vacancy rates increased to 16.8% while rentals grew 8% y-o-y.
Chennai Retail Report
Chennai’s main streets recorded leasing of 0.2 MSF in Q4-24, a 37% q-o-q growth, and a 2X increase y-o-y. Fashion segment led with 29% share, followed by F&B (18%). Mall leasing stood at 0.02 MSF, a 13% q-o-q growth. Peripheral South and CBD submarkets collectively accounted for 77% of the quarterly mall leasing. City-wide mall vacancy stood at 14.27%. Main streets such as Cathedral Road, Usman Road-North and Anna Nagar 2nd Avenue recorded a rental growth of 2-4% q-o-q.
Chennai Residential Report
Chennai residential market saw ~4,050 unit launches, a 38% y-o-y growth in Q4-24. Suburban South I and II collectively led with a 62% share. The mid-segment dominated with 77% share, followed by the high-end and luxury segments, capturing 18% share, witnessing 35% growth compared to 2023. Capital values for Off-Central II, Suburban South I & II and Suburban North rose 5-9% y-o-y and 4-5% y-o-y for the high-end segment of Off-Central I & II. Rental values for mid-segment units in Off-Central II and Suburban South I & II rose 5-8% 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
Podcast
Podcast: Logistics & Industrial in India
With international business looking seriously at India to take advantage of the world's second largest population - India is a complex and fascinating part of the world, for both investors and occupiers alike.
Rob Hall • 16/10/2020