Average rents in the commercial sector increased by 3% year-on-year to Rs 69.2 per square foot per month, reflecting the increase in occupants’ demand. File Photos | Photo Source: SR Raghunathan
Chennai’s residential market sales rose 10% year-on-year, with 4,357 units sold in the first quarter of 2025. According to Knight Frank India, the new launch also added 4,576 units, reflecting 4,576 units, reflecting a 5% year-on-year increase.
Knight Frank India also noted in its latest report, Real Estate in India: Offices and Residential (January to March) Q1 2025′, the average weighted residential price increased by 7% year-on-year to Rs 4,854 per square foot.
In the first quarter of this year, Chennai’s commercial real estate division recorded a total of 1.8 million square feet (MN square feet) of transactions, marking a 56% year-on-year increase. The city also witnessed 0.2 mn square feet of new office space this quarter. Average rents in the commercial sector increased by 3% year-on-year to Rs 69.2 per square foot per month, reflecting a steady rise in occupants’ demand. The Global Capacity Center (GCC) remains a key demand driver in the city’s office market, accounting for 0.9 mn square feet of transactions. The curved space followed closely behind, recording a 0.54 mn square foot rental activity.
Executive Director Tamil Nadu and Srinivas Anikipatti of Knight Frank India in Kerala said: “The Chennai property market showed steady momentum in the first quarter of 2025, setting a positive tone for the rest of the year. Strong leasing activities in the commercial sector, especially GCC and Flex Face Operators, especially businesses from the city, reflect a strategic business for the city’s growth, which is a strategic one.
“In the residential front, stable demand and rising property value show that infrastructure development and expanding economic base support a resilient market,” he added.
publishing – April 4, 2025 06:51 AM IST
