CHENNAI CENTRAL
Business Today India|January 21, 2024
CHENNAI IS TRUMPING MUMBAI, DELHI-NCR AND HYDERABAD TO EMERGE AS THE NEW OFFICE REAL ESTATE MARKET. BUT THE RECENT CYCLONE HAS EXPOSED THE CHINKS IN ITS ARMOUR
VIDYA S.
CHENNAI CENTRAL

CHENNAI, THE NEW OFFICE HUB

With an uptake of 6.5 million sq. ft of office space during January-September 2023, Chennai stands shoulder to shoulder with major markets like Mumbai, Delhi-NCR and Hyderabad

Chennai is a diversified market with demand being driven by not just the IT sector, but also from banking, logistics, engineering, SaaS and GCCs

A confluence of factors—a thriving economy, a pool of skilled and stable talent, robust infrastructure, and notably lower occupancy costs compared to its counterparts— are responsible for the city’s increasing allure among developers and occupiers

But the recent Cyclone Michaung, which brought the city to its knees, exposed chinks in its armour

Now, nearby Coimbatore is also emerging as one of the most preferred Tier II office locations in India

A CITY ONCE considered an underdog now stands tall. In India’s highly competitive office real estate market, which has traditionally been dominated by cities like Mumbai, Delhi-NCR, Bengaluru and Hyderabad, a new protagonist is emerging—Chennai. “It is the only city that has seen growth in the office [real estate] markets this year so far,” says Chandrakant Kankaria, Joint MD of Olympia Group, which is coming up with a 1.2 million sq. ft (msf) tech park in prime Chennai office locality Guindy.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM BUSINESS TODAY INDIAView all
"Focus on the challenge of each customer"
Business Today India

"Focus on the challenge of each customer"

SHASHANK KUMAR MD & CO-FOUNDER I RAZORPAY Razorpay is India's first full-stack financial solutions company

time-read
1 min  |
December 08, 2024
PEDAL ON THE FUTURE
Business Today India

PEDAL ON THE FUTURE

THE MG WINDSOR EV, WITH ITS FUTURISTIC AND MINIMALIST DESIGN, COMBINES THE BEST OF BOTH WORLDS-COMFORT AND TECHNOLOGY

time-read
1 min  |
December 08, 2024
BREATHE EASY
Business Today India

BREATHE EASY

Whether you're battling allergies, looking to remove pollutants, or simply want to breathe easier, the right air purifier can make a difference

time-read
2 mins  |
December 08, 2024
The Taste of India in a Glass
Business Today India

The Taste of India in a Glass

FROM ROYAL LIQUEURS TO DISTILLED MAHUA, INDIAN HERITAGE ALCOHOLIC BEVERAGES ARE HAVING THEIR DAY IN THE SUN

time-read
4 mins  |
December 08, 2024
LOOK BEFORE YOU LEAP
Business Today India

LOOK BEFORE YOU LEAP

IN 2025, INVESTORS WILL NEED TO FACTOR IN VOLATILITY ACROSS ASSET CLASSES

time-read
5 mins  |
December 08, 2024
MISSING ADVISORS
Business Today India

MISSING ADVISORS

INDIA HAS JUST ONE INVESTMENT ADVISOR FOR NEARLY EVERY 200,000 INVESTORS. AT A TIME WHEN RETAIL PARTICIPATION IN THE STOCK MARKETS IS BOOMING, THIS ASSUMES SIGNIFICANCE

time-read
7 mins  |
December 08, 2024
TURNING A CORNER
Business Today India

TURNING A CORNER

SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE

time-read
5 mins  |
December 08, 2024
REALITY CHECK
Business Today India

REALITY CHECK

INDIAN STOCK MARKETS PLUNGED BEGINNING OCTOBER FOR A HOST OF REASONS, INCLUDING A FALL IN FII OWNERSHIP. HOW DEEP WILL THE CORRECTION BE?

time-read
6 mins  |
December 08, 2024
TRUMP'S TRADE TANGO
Business Today India

TRUMP'S TRADE TANGO

The return of Donald Trump as the 47th President of the US has put the global economy on edge. India, too, is unlikely to remain unaffected. How will policymakers meet this latest challenge?

time-read
9 mins  |
December 08, 2024
"The essence of the Trump administration will be transactional”
Business Today India

"The essence of the Trump administration will be transactional”

Global investor, analyst, and best-selling author Ruchir Sharma decodes why Donald Trump won the elections, what India should do, the risks, and more

time-read
10 mins  |
December 08, 2024