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Commercial Rental Scenario in Chennai

Chennai property market is steadily region of about Rs 35-40 per sq. ft.
catching up with the booming Indian real It was found from the MagicBricks that a
estate with the growth of IT/ITES total of 20.47 million sq. ft of
companies in the city. Capital and rental commercial office space is to be
property values in the commercial real developed in the city in the coming years
estate are getting strengthened and quite in order to meet the demand from
a good volume of demand has been commercial sector. This will further
witnessed for quality office spaces. influence real estate property values and
Commercial rental values in Chennai's it is expected that the capital and
Central Business District (CBD) that rental values will go a bit downwards.
encompasses Nungambakkam, Salai, Anna Another broker coded that old
Nagar and Adyar areas have increased in Mahabalipuram and Guindy are the
the past 12 months, mostly driven by preferred business district for IT/ITES
strong demand from multinational occupiers. Most of the companies are
companies, banking and financial sectors coming to these regions and the real
as told by one of the developer. He estate values are likely to take a ride
further added that these companies over these trends.
require A Grade quality office space in Meanwhile, rental values in Chennai
Chennai and are not satisfied with the realty space vary with the
current infrastructure. infrastructure, company's requirement and
Current commercial rental value in facilities offered as well as the
Chennai varies from Rs 30-55 per sq. ft, location. The recent rental values trends
which is higher as compared to last year. of the city are progressive and the real
Rental values of commercial properties estate market looks positive in the long
viz. offices and shops located at CBD term.¦
region is reported to have the highest For more details on Chennai Property, log
rental values at around Rs 45-55 per sq. on to magicbricks.
ft. These rental values decreases off CBD




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