Chennai, the Gateway to Southern part of India, is about 350 years old. It is both the Commercial and Cultural Capital of South India. This vibrant city has managed to strike a beautiful balance between the modern and the traditional. It is a metropolis with a distinct old - world charm and compared to other metros, it is far less congested and polluted.

Chennai has witnessed a great deal of industrial expansion in recent times. With the mushrooming of engineering plants, car-assembly plants, educational institutions, Textiles, Leather Goods, Chemicals, Automobiles, Computers, Granite, Hardware and Shipping, the city is gradually making its presence felt in the industrial and software arena. Chennai is also known as the automobile capital of India as around forty percent of India’s automobile industries are based here.

Chennai in recent years has also become a major center for outsourced jobs from the Western world as the people of Chennai are highly educated and hospitable. Chennai is a cosmopolitan city to the core and it is growing, expanding and changing vigorously with the passage of time.

Commercial rental trend in Chennai

Chennai like any other progressive city is on the move upwards in the commercial real estate sector. As the city is emerging as the hub for IT, ITES and the BPO industry; apart from it being the automobile capital of India Chennai is now gearing up to meet the demands of commercial real estate sector to meet the increasing demands from investors willing to start their operational bases in the city.

As the demands for office spaces and retail outlets keep increasing, developers are queuing up provide the best infrastructure to the investors. Recent trend shows the corporate offices preferring the Central Business Districts (CBD) as their addresses while the IT and the BPO industry opt for the Suburban Business Districts (SBDs) specially the Old Mahabalipuram Road (OMR) where a significant increase in the capital and rental values are expected in the next few months. The Tamilnadu government’s policy to promote IT Corridor on OMR and the development of a six-lane expressway are proving to be of main attraction for the investing companies opting for commercial spaces in the city.

Since most of the investors in the IT and BPO sector would prefer to test the market; initially these companies lease office spaces to start their operational bases before further expansion. This has also brought about an increase in the rental/lease rate of the commercial spaces in Chennai. And the commercial market is expected to see further upsurge as Chennai emerges as the promising destination for investors.

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