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Chennai Office Rental Insight July 2013
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Chennai Office Rental Insight July 2013

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The office rental insight will provide you a quick update on the major trends of Office rentals, vacancy, new supply and market transaction in 2Q 2013.

The office rental insight will provide you a quick update on the major trends of Office rentals, vacancy, new supply and market transaction in 2Q 2013.

Published in: Real Estate

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  • 1. Micro Market INR | US $ (Rental per sq.ft/month) % Change (Q-o-Q) | (Y-o-Y) CBD 65 - 85 1.2 - 1.5 0% 0% Guindy (SBD) 50 - 60 0.9 - 1.1 0% 4% GST road 35 - 40 0.6 - 0.7 0% 0% OMR (IT Corridor) 25 - 40 0.4 - 0.7 0% 0% Ambattur 25 - 30 0.4 - 0.5 0% 0% Client Building Name Area (Sq.ft) Location Transaction Type Bosch Sunnyside 32,000 Off Anna Salai Lease Frost and Sul- livan ASV Hansa 42,500 Off Anna Salai Lease IBM Daksh Prince Infocity II 30,000 OMR Lease Maersk Prince Infocity I 23,151 OMR Lease Preethi Futura 30,000 OMR Lease Samsung ASV Titanium 26,000 OMR Lease OFFICE RENTAL INSIGHT GRADE A RENTAL VALUES AVERAGE RENTAL TREND- GRADE A BUILDING OFFICE SUPPLY, ABSORPTION & VACANCY RATE For Office Services related queries, please contact: For more information and research related queries, please contact: Kaushik Reddy | Director | Office Services Surabhi Arora | Associate Director | Research Kaushik.reddy@colliers.com | 044 - 28361064 surabhi.arora@colliers.com | 0124 - 4567580 DISCLAIMER This document has been prepared by Colliers International for general information only. Colliers International does not guarantee warrant or represent that the information contained in this document is correct. Any interested party should undertake their own enquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damage arising directly or indirectly there-from. INDIA | CHENNAI | JULY 2013 MARKET TRANSACTIONS Note: 1 US$= INR 55.72 (Average: 1st April-30th June, 2013) Above graph represents new supply, absorption, and vacancy in both Non IT and IT Grade A properties Above table represents indicative transactions during 2Q 2013. Above rental trends indicates Non IT Grade A properties only ©Copyright 2013 - 2014. All Rights Reserved. 0% 5% 10% 15% 20% 25% 30% 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 New Supply (In Mln sqft) Absorption (In Mln sqft) Vacancy (In %) 2008 2009 2010 2011 2012 2013F 2014F 0 10 20 30 40 50 60 2008 2009 2010 2011 2012 2013F 2014F Average Rental Trends (INR Per Sq Ft Per Month) Forecast