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Oversupply Commercial Space in Chennai

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In Chennai overflow and poor absorption of commercial space, especially IT office space is increasing. According to the sources saying at the www.propertykhazana.com, the first quarter report bailed out by the Real Estate Intelligence Service (REIS) of JLLM is that the commercial space, comprising IT space in Chennai is 35 Million Sq.ft and the opening rate is 20-25%. The stock of the commercial space is likely to raise and get 45 Million Sq.ft by the year end and at the same time, the opening rate is about to increase to 25-30%. Commercial rents in Chennai were less by 15-20% from the previous quarter, abating IT demand and uneven supply has formed this overflow condition.
Sources reported at the www.propertykhazana.com says that Chennai has seen a supply of 9 Million Sq.ft of commercial space, comprising 8 million Sq.ft of IT space and the absorption of commercial space at 6 Million Sq.ft leaving over 2.50 Million Sq.ft empty. The fall in rentals witnessed to be more common in Old Mahabalipuram Road than in Grand Southern Trunk (GST) Road. RIES expected that 95% of the commercial space catering in the coming 2-3 years in Chennai will be for IT inhabitants. Govt. hard work to renew the property market across the country through financial measure has been optimistic, but the real effect is still to be experienced. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

Property Listings

Apartments, Flats and Property for Sale in Chennai

May 19, 2017
No common wall design Go green property 72% open space 99 years durable..
Mar 30, 2017
This Studio Apartment is a 1 BHK Flat in Chennai located in Medavakkam behind Balaji Dental Hospital boasts of 4 lane connectivity all around the..
Mar 25, 2017
1390sq.ft, 3 Bedroom with attach bathrooms. Uts 426sq.ft., Car park also..
Mar 21, 2017
? New 2 bhk flats for sale in Vasinavi nagar, 10th street, Thirumulaivoil ? Totally – 6 flats , ? Stilt – car parking, 1st flr- 3..
Mar 21, 2017
New 1 &2 BHK flats at AF1& S1-750, AF2&S2-445, AF3 & SF3-755,BF1&BF1-790, BF2&S2-470,..
Mar 21, 2017
Total no. of units : 4 units Available units : 4 units Size of Flat : ( 2 BHK Flats)-G1-813,F1-826,F2-933,S1-984 SQ.FTS Car..
Mar 21, 2017
New 1& 2 BHK flats at G1-806, F1-734, F2-477, F3-816 & S1-734 & S2-549 sqfts for sale in -Oragadam, Ambattur. *..
Mar 21, 2017
Independent Row houses & flats for sale at krishnapuram, ambattur. Close to ambattur Bus stand, school, Banks, shopping mall. Row Houses..
Feb 20, 2017
A premium office space and residential complex located in the heart of the city on Nelson Manickam Road. Within easy reach of employment hubs,..
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Apartments, Flats and Property for Rent in Chennai

Apr 15, 2016
If you are looking for Serviced Apartment, Vacation Rentals, Holiday Homes, Beach / Farm House and Short Stay call us on 98400 99377 , 98 4092..
Feb 29, 2016
2bhk apartment for rent in puzhuthivakkam 2bhk room family maintenance water facility near by vyasa vidhayalaya,school near walkable distance..
Sep 18, 2015
Fully Furnished- 2 BHK flat rent in Perumbakkam Near Elcot[Photos Attached] Suitable for working Bachelors/Bachelorettes/Family Available from..
May 02, 2015
Residential Flat For Rent At Egmore, Brand New, 3 Bhk, 1610 Sq Ft On The 2nd Floor, With Fully Furnished, A/c, Fridge, Washing Machine, Oven,..
Nov 21, 2014
Area of 1056 Sqft Flat for immediate Sale at Kelambakkam. 3 BHK Flat with Vitrified Tiles flooring, 3 Phase Eb, Ample water supply, Parking..
Aug 19, 2014
Residential Flat For Rent At Egmore, 2 Bhk, 1050 Sq Ft In The 2nd Floor, With One Car Park, Lift, Centrally Located In Egmore, Rent Expected..
Aug 14, 2014
Thiruvanmiyur, Thiruvalluvar nagar. Rentatl Flat Available. 2 Bed Room + Hall + Kitchen. One in First floor Rs. 15,000/month. Another in Second..
May 19, 2014
Title:Apartments for rent in Puzhuthivakkam Location:Puzhuthivakkam 2 bed rooms/1 bed room apartments for rent . Ready to occupy , 3-phase..
May 04, 2014
soft furnished with wood work and a large open exclusive terrace. Near to SBIOA, Sparton, DAV..
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