Monthly Real Estate Monitor Chennai June 2015

by JLL India

OFFICE

The demand supply gap continued to rise in key micro markets like

 Guindy and OMR (Pre Toll) which have witnessed a

 healthy leasing activity. Major transactions:

BNY Mellon at DLF Cybercity (SEZ)

WABCO at Mount Poonamallee Road

Areva and BNP Paribas at Guindy.

Key Precincts	Rental Value (INR per sq ft per month)	Capital Value (INR per sq ft)
Mount Road	60–85	9,000–15,000
RK Salai	65–85	10,000–15,000
Pre-toll OMR	40–70	5,000–6,500
Post-toll OMR	25–35	3,500–5,000
Guindy	45–65	6,500–9,000

RETAIL

Chennai attracted new brands in May. While areas like Velachery,

OMR and Anna Nagar witnessed healthy demand from retailers.

 Major transactions:

Saravana Stores and Dunkin Donuts at Velachery.

Volvo leasing prime space at Teynampet

            

Key Precincts	Rental Value (INR per sq ft per month)	Capital Value (INR per sq ft)
T. Nagar	120–180	12,000–15,000
Nungambakkam	130–150	13,000–16,000
Velachery	80–120	10,000–12,000
Pre-toll OMR	80–100	8,000–11,000
Anna Nagar	120–150	11,000–13,000
LB Road (Adyar)	100–140	10,500–13,500

RESIDENTIAL

Nungambakkam - a premium micro market is witnessing

a spur in launch of luxurious projects.

Key launches:

Akshaya Level Up by Akshaya at Nungambakkam

VGN Presidency by VGN Developers at Nungambakkam

            

Key Precincts	Rental Value (INR per month for a 1,000 sq ft 2BHK apartment)	Capital Value (INR per sq ft)
Adyar	20,000–30,000	18,000–22,000
Medavakkam	11,000–14,000	4,000–6,000
Tambaram	8,000–15,000	4,000–6,000
Anna Nagar	18,000–25,000	10,000–15,000
Porur	7,000–12,000	4,200–6,200
Sholinganallur	9,000–12,000	4,500–6,000

Policy..

The Chennai Metro Rail is facing challenges in building up tunnels at Anna Salai.

Government has declared that 70% of the tunnelling work is been completed

on this stretch rest of the work is likely to be completed by Gammon India.'

About JLL India..!

JLL is India’s premier and largest professional services firm specializing in real estate. With an extensive geographic footprint across 11 cities (Ahmedabad, Delhi, Mumbai, Bangalore, Pune, Chennai, Hyderabad, Kolkata, Kochi, Chandigarh and Coimbatore) and a staff strength of over 6800, the firm provides investors, developers, local corporates and multinational companies with a comprehensive range of services including research, analytics, consultancy, transactions, project and development services, integrated facility management, property and asset management, sustainability, industrial, capital markets, residential, hotels, health care, senior living, education and retail advisory.

The firm was named the Best Property Consultancy in India (5 Star Winner) at the International Property Awards – Asia Pacific for 2012-13. For further information, please visit www.joneslanglasalle.co.in

For more information about research, contact

Ashutosh Limaye

Head, Research and REIS +91 98211 07054

ashutosh.limaye@ap.jll.com

 Sujash Bera

Assistant Manager,

 Research +91 033 3343 6125

 sujash.bera@ap.jll.com

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