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Footprint of Chennai’s Future Business Districts and Resurgence of Integrated Townships

Shweta k • 20/01/2022

Rajiv Gandhi Salai evolved as one of the most sought-after destinations in Chennai to work and live with the amalgamation of lucrative investments; experiences of Walk-to-Work culture combined with the imminent infrastructure that connects south with the rest of Chennai.

With the shift in workplace preferences, Chennai witnessed a pivotal shift in business districts traversing south to the – IT Corridor. Rajiv Gandhi Salai is dotted as the self-sustaining growth corridor which offers copious options for integrated townships with city-like high-end infrastructure and amenities - assuring high rental yield and capital appreciation over the years.

The impending infrastructure fuelling connectivity with the shift in business districts and preferences towards communal living are expected to drive burgeoning residential demand over the next few years.

In this report, we delve into how the unprecedented times of the pandemic brought about a newfound interest in integrated townships. The rationale behind the shift in business districts and how Rajiv Gandhi Salai conceived as the IT metropolis with its testament to high-end integrated townships, now caters to a diverse community.

Read the Report.

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Office Buildings CBD
Chennai Office Report

The city recorded a gross leasing volume of 1.6 million square feet (msf) in Q2-2023, with a significant drop of 24% compared to the previous quarter. Fresh leasing accounted for nearly 89% of the quarterly leasing activity, experiencing a remarkable 78% year-on-year increase. Despite an increase in vacancy levels due to new supply, the city experienced healthy net absorption.

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Shopping Retail
Chennai Retail Report

Strong leasing activity was recorded at main streets in Chennai, with a 30% q-o-q growth. Departmental stores dominated main street leasing, while the F&B sector led leasing activity in malls. Mall vacancy rates slightly decreased, and marginal rental growth is anticipated in the near term due to limited space availability.

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Warehouse Internal Rack
Chennai Residential Report

Chennai witnessed healthy residential unit launches in Q2 2023, driven by Suburban South II submarkets. Mid-segment properties dominated with a 53% share, while high-end and luxury segments saw significant growth as well. Marginal price rise was observed, and demand remained strong along metro corridors due to improved infrastructure.

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Warehouse Internal Rack
Chennai Industrial Report

The warehouse leasing market in Chennai experienced robust growth in H1 2023 compared to H1 2022. The primary driver was the logistics sector accounting for 69% share, followed by engineering & manufacturing at 26%. Strong demand for warehouse space resulted in a rental appreciation of 29% on a y-o-y basis. Industrial leasing recorded a 3X growth in the first half of 2023 compared to last year.


Warehouse Internal Rack
India Investment Report

The investment activity recorded in Q2 was INR 158.5 bn (USD 1.92 Bn) which was 63% higher than the previous quarter’s activity and 60% higher than the activity recorded in Q2-22.


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