MNCs (Multi National Companies) looking to set up a base
of operations in India would do well to look at Chennai, as the city has the
lowest office rental rates among any of the big
four metros in India.
Jones Lang Lasalle Office Index..!
But the Chennai city also witnessed faster appreciation
in rental values during the year ended December 2012 vis- Ã - vis more expensive
cities such as Delhi and Mumbai, as per real estate consultant Jones Lang
Lasalle’s latest “The Office Index” report.
In terms of the capital value of property as well,
Chennai was ranked lower than the other 3 big metros, making outright purchase
of an office space a more feasible prospect.
According to the report, expansion by MNCs remained slow
in India & China during the 4th quarter of 2012. The office market in
general was in favour of landlords, but corporate occupiers have become
increasingly reluctant to pay high rents.
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