Chennai Monthly Real Estate Monitor May 2017

Chennai Monthly Real Estate Monitor May 2017

DATA ANALYSIS FOR THE MONTH OF APRIL 2017

Report From JLL India

Office

Sluggish leasing market due to a lack of vacant space in quality projects. 

Major transactions:

TVS Electronics at Kandanchavadi

Seeantat Anejas

Key Precincts	Rent (INR per sqft per month)	Capital Value(INR per sq ft)
Mount Road	60-85	9,000-16,500
RK Salai	65-90	10,000-15,000
Pre-toll OMR	40-90	5,000-6,500
Post-toll OMR	35-50	3,000-6,000
Guindy	45-65	6,500-9,000

Retail

Limited vacancy in superior malls limiting leasing activity. Good pre-commitments in the upcoming malls.

Major transactions:

Adidas at C P RamaswamyRoad

Zivameat KNK Road

Reliance Trends at ViviraMall

Key Precincts	Rent (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	90-125	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

There was a lull in the residential  real estate market for about two months in primarily owing to restrictions in carrying cash and ripples in political situation in the city.

New Launches:

Poonamalle Avantikaat Chromepet

Brigade Xanadu Ph1 at West Mogappair

Key Precincts	Rent (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/Infrastructure

Chennai commuters get 28 km of Metro Rail service out of the total 45 km planned for the first phase. The government sanctioned the project in January 2009 at a cost of ₹14,600 crore, and it has so far released about ₹11,301 crore.

Share: