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4 Connectivity
Cluster Locations Nature
Central Business
District (“CBD”)
Anna Salai,
Nungambakkam
and R.K. Salai.
As of 2013, the CBD market has a total stock of approximately 14.74 million sq ft. The
vacancy rate during 2013 was estimated at 12.8%. CBD markets consists of limited
supply of Grade A buildings and command the highest rental in Chennai market due to
limited availability. During 2013, the CBD market attracted rentals in the range of INR
70-80/sq ft/month.
Off-CBD T.Nagar, Alwarpet,
Kilpauk
These markets account for a stock of approximately 9.84 million sq ft. Off-CBD markets
registered a vacancy of around 8.6% during 2013. Off-CBD markets command a rental
range of INR 55-65/sq ft/month.
Suburban Markets Guindy, Taramani-
Perungudi (OMR)
and Ambattur
clusters
These clusters are the emerging offce markets with signifcant demand. With limited
availability of space in CBD and off-CBD markets, suburban markets are registering
buoyant demand from occupiers. Stock in suburban markets can be estimated as 37.27
million sq ft during 2013. Vacancy in the suburban markets as of 2013 was registered at
17.3%. Suburban markets attract rentals ranging between INR 25 and 65/sq ft/month.
Peripheral Markets Locations after
Thoraipakkam in
OMR and after
Perungulathur in
GST
While GST has very limited stock of offce buildings, OMR has ample stock of the
same. The stock in these markets is estimated to be around 11.94 million sq ft. Vacancy
in these markets as of 2013 is approximately 22.8%. Due to limited demand for
offce space, these markets have relatively higher vacancy levels. Offce rentals in the
peripheral districts range between INR 25/sq ft/month and INR 40/sq ft/month.
Source: Cushman &Wakefeld
Transport Mode Details
Rail Rail connectivity within Chennai is through the suburban railway network. It consists of three lines:
1. Beach to Tambaram (30km, 18 stations): This section is parallel to but completely separate from the long-
distance tracks of Indian Railways.
2. Chennai Central to Pattabiram (25km, 15 stations): This section is again parallel to but completely separate
from long-distance tracks. Services run for a further 34km (14 stations) on this line on tracks shared with
long-distance tracks.
3. Chennai Central-Gummidipoondi (48km, 16 stations) - This line currently shares tracks with long-distance
trains but there are plans to build exclusive tracks in the future.
In addition to the above rail network, the Chennai Metro Rail Project is underway. The DPR envisages the creation
of 2 initial corridors under the proposed Chennai Metro Rail Project as shown below
Corridor-1: Washermenpet–Chennai Airport.
Corridor-2: Chennai Fort–St. Thomas Mount.
The trial run for metro rail would be conducted on the elevated corridor between Koyambedu and Alandur in
February; six months after this run, the stretch is expected to become operational.
Chennai commercial market overview