ASCENDAS india trust ANNUAL REPORT 2014/15
8 Competition Analysis – GST Road (continued)
Details of the upcoming projects along GST Road are as follows:
Project
Developer
Location
Total Leasable
Area (sq ft)
The Gateway (2 Blocks)
Shriram Properties
Perungalathur
400,000
Source: C&W Research
9 Absorption and Vacancy of the Micro-market
During 2014, GST Road witnessed a total supply of around 0.4 million sq ft, accounting for 18% of the total supply in
Chennai. Absorption during the same time period was registered at 0.3 million sq ft. GST Road contributed around 8% to
the overall absorption in the city. The overall vacancy in GST Road was registered at approximately 13.5% as against the
overall city vacancy of 14.0%.
From the chart above, it is evident that the micro market witnessed irregular supply. The average absorption in the micro-market
for the last 5 years has been 0.2 million sq ft. It is also observed that there has been an increase in the vacancy as and when
there is a new supply in the market. During 2014, there was an increase in the vacancy to 13.5% from 10.0% in 2013.
Area (million sq ft)
Vacancy (%)
Supply (million sq ft)
Absorption (million sq ft)
Source: C&W Research
0.6
0.4
0.2
0.0
2010
2011
2012
2013
2014
2015
(F)
21.1%
15.5%
23.3%
10.0%
13.5%
12.0%
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
