ASCENDAS india trust ANNUAL REPORT 2014/15
4 Connectivity (continued)
Transport Mode Details
Air
Chennai’s airport provides both domestic and international connectivity and is located off GST Road,
16 km from the CBD. Chennai is currently serviced by 19 international and 9 domestic airlines.
Sea
The city is served by two major ports namely Chennai Port (one of the largest artificial ports in India)
and Ennore Port. The Chennai port is the largest in the Bay of Bengal, with an annual cargo tonnage of
61.5 million (2010-11), and the second busiest container hub in India. The port handles transportation of
automobiles, motorcycles and general industrial cargo. The Ennore Port with an annual cargo tonnage
of 11.0 million (2010-11) handles cargo such as coal, ore and other bulk and rock mineral products.
Source: C&W Research
5 Supply, Absorption and Vacancy trends of the City
The average commercial office space absorption in Chennai has been approximately 4.2 million sq ft per year during the last
six years. Due to the high vacancy witnessed during 2009-11, there was a decline in the supply of commercial office space
in 2011-14 as compared to 2009-10.
Area (million sq ft)
Vacancy (%)
Supply (million sq ft)
Absorption (million sq ft)
Source: C&W Research
10
8
6
4
2
0
2010
2011
2009
2012
2013
2014
2015
(F)
24.0% 22.7%
17.2%
15.4% 16.1%
14.0% 14.0%
A snapshot of the supply, absorption and vacancy trend for the city is as follows (as per C&W research):
• The average absorption of commercial space for last six years is approximately 4.2 million sq ft per year. The absorption
in 2014 was approximately 4.0 million sq ft.
• Office space supply during 2014 registered a decrease of 37% over supply registered during 2013. Supply during
2014 was registered at 2.1 million sq ft.
• Vacancy levels decreased from 16.1% in 2013 to 14.0% in 2014. The decrease is due to the decrease in supply during
the year.
D
C h e n n a i C omm e r c i a l M a r k e t O v e r v i e w
