198 199
5 Supply, Absorption and Vacancy trends of the City (continued)
The major transactions during the year are as follows:
Project
Micro-market
Lessee
Area Leased
(sq ft)
Block B5, Shriram The Gateway
Perungudi
Accenture
220,000
Center Point II
Guindy
BNP Paribas
178,200
Neville, Ramanujan IT City
Taramani
Tata Consultancy Services
109,000
Futura Tech Park
OMR
Scope International
100,000
DLF IT Park
Manapakkam
Tata Consultancy Services
73,000
DLF IT Park
Manapakkam
Thirdware
56,000
Prince Info City II
OMR
Thinksoft
56,000
Acropolis
RK Salai
Citibank
54,600
Source: C&W Research
• The overall supply of office space across the next 2-3 years in Chennai is anticipated to be approximately 5.0 million
sq ft. Due to limited supply of IT SEZ closer to the city, SEZ spaces in suburban locations are expected to witness
heightened demand in the near future.
• Upcoming projects in Chennai include:
Project
Location
Proposed Area
(sq ft)
Ramanujan IT SEZ – Phase II (2 Blocks)
Old Mahabalipuram Road
1,326,000
DLF IT Park (2 Blocks)
Mt. Poonamallee Road
850,000
The Gateway (2 Blocks)
GST Road
800,000
The Point
Sholinganallur
650,000
High Street IT Park
Teynampet
162,000
Source: C&W Research
6 Competition Analysis – OMR
OMR is home to a number of IT developments. Since the development of TIDEL Park, office market along the corridor
has registered tremendous growth. The major players in the IT arena have their own campuses while SMEs occupy the
multi-tenanted structures.
With the commissioning of the toll plaza at Perungudi in 2008, OMR was split into two stretches – Madhya Kailash to
Perungudi and Thoraipakkam to Siruseri. The suburban parts of OMR constituting Perungudi and Taramani account for
62% of the stock, while the latter part of OMR extending from Thoraipakkam to Siruseri accounts for the remaining 38%
of the total stock in the corridor.
