Learn more by clicking our most recent Chennai MarketBeat reports on the various sectors below.
Chennai MarketBeat Reports
30/01/2025
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 ~ 5 MSF, a significant 72% growth compared to H1-24. Oragadam submarket led with 20% share, followed by Madhavaram (19% share). Sector-wise, demand was driven by the 3PL players (45% share) and the Automotive sector (14% share). Industrial leasing surged to 2.4 MSF, 2.3X the volume recorded in H1-24. Oragadam submarket dominated, accounting for 56% of this volume. Key industrial submarkets, including Oragadam, Gummidipoondi and GST Road, saw 4-7% y-o-y rental growth.
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
Insights • Workplace
In this guide we provide you with a comprehensive office fit out cost breakdown. Read on to find out more.
Dominic Brown • 05/03/2025
Insights • Investment / Capital Markets
Mumbai’s Office-SEZs get a new lease of life as leasing volume surge
Mumbai witnessed an unprecedented rise in leasing done in SEZ-designated (Special Economic Zone) buildings with 1.50 MSF of lease transactions recorded in these buildings in 2024.
06/02/2025
Research • Workplace
REWORKING the Office Asia Pacific
Our ‘REWORKING’ series examines decision-making for occupiers under four key considerations: Cost, Carbon, Culture and Community – under which the changing demands, needs and impacts on office spaces and strategies can be examined.
Khurshed Gandhi • 03/11/2023