Office Space
After a few months of slowdown, office leasing
gained momentum during the month of June, 2013. The majority of supply in 2013
would be coming from the most preferred office locations of pre-toll Old
Mahabalipuram Road (OMR).
Important to mention, the new office supplies such
as Ramanujan IT City and SP Infocity are gaining steady demand from the
occupiers. Apart from the OMR, SBD locations such as Guindy and
Mount-Poonamallee Road (MPR) also witnessed healthy demand in June, 2013.
|
Office
|
Rents
|
Capital Value
|
|
Key Areas
|
Rs. per sq. ft per month
|
Rs. per sq. ft
|
|
Mount Road
|
60 to 90
|
9,000 to 15,000
|
|
RK Salai
|
70 to 100
|
10,000 to 15,000
|
|
Pre-toll OMR
|
40 to 62
|
5,000 to 6,500
|
|
Post-toll OMR
|
25 to 35
|
3,500 to 5,000
|
|
Guindy
|
40 to 60
|
6,000 to 9,000
|
|
Ambattur
|
20 to 32
|
3,250 to 4,300
|
Notable new occupiers in this submarket included
Visionary RCM, Solartis and iGold Technologies. Average office rents in Chennai
saw marginal increase on the back of improving demand.
For more information about our research
Ashutosh Limaye
Head, Research and REIS
+91 98211 07054
Trivita Roy
Assistant Vice President, Research
+91 40 4040 9100
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