Chennai registers 115% YoY growth in office transaction of 0.15mnsqm(1.6 mnsqft) in Q3 2021: Knight Frank India

Knight Frank India, leading international property consultancy, today launched its quarterly report - India Real Estate Update - Q3 2021; which cited that Chennai registered 115% rise in office space transactions to 0.15 mnsqm (1.6 mnsqft) and 258% rise in new completions to 0.02mn sqm(0.2 mnsqft) in Q3 2021. The cumulative office transactions for the first nine months of 2021 were reported to be at 0.09 mnsqm (2.8 mnsqft). 

Chennai’s residential sales and new launches witnessed growth of 17% and 49% YoY, respectively in Q3 2021. The city recorded sales of 3,610 residential units and launches of 3,795 residential units were launched during this period. Weighted average prices in Chennaimarket remained stable during the quarter. 

“As vaccination gathers pace and companies gradually decide to bring back their workforce to offices, the demand for commercial assets should gather traction going forward”said Shishir Baijal, Chairman and Managing Director, Knight Frank India 

Rajani Sinha, Chief Economist & National Director – Research, Knight Frank India said, “The mid-income housing segment has shown great promise in Chennai residential market. The segment has gained prominence and is seeing increasing development interest. The market has also witnessed a prominent shift in buyer’s sentiment.”

 

Comments

Post a Comment

Popular posts from this blog

A 25 Year Voyage Through Rhythm: A Priceless Guru Nanak School Reunion

Image
Reconnecting with long-lost classmates, Teachers and School staff after a quarter-century has stirred deep feelings of nostalgia and priceless emotions. Anticipation filled the air as we eagerly awaited the long-awaited gathering on 25 th of November2023 at Hotel WESTIN, wondering how many would join us for this special occasion. A month before the anticipated reunion, few schoolmates addressed as the Core Team took the initiative to meticulously plan and organize the event, leaving an indelible mark on each of our hearts. The immediate reaction was one of overwhelming excitement, with tears in our eyes and smiles lighting up our faces. As an added delight, we collectively revisited our beloved Alma Mater, reviving cherished moments etched deep within our souls.Our school held tremendous significance, even those who ventured down different paths, departing in 7th, 8th, 9 th or 10th grade, still share an unbreakable bond with our iconic establishment, GURU NANAK MATRICLUATION SCHO
Read more

Isidores' love story is shattered when his wife is revealed to be a liar, cheat and unfaithful

Image
Isidore, a Belgian man, was adopted by a South Indian family in Mobdibri, Karnataka, and works at La Poste. He is a caring and caring person who remembers his past as a poor and lonely Mubdibri orphan. Despite significant financial aid to meet the needs of his wife's family, Isidore finds himself in a situation of divorce without consummating their marriage. In November 2021, Isidore met a young girl named Yasmina, whom he had previously introduced him to on a social network. Yasmina decided to marry Isidore despite their age difference. They got married on February 18, 2022, but Isidore felt something was unclear in his new life. He made all the necessary arrangements for her to come to Belgium and stay with him permanently. On May 10, 2023, Isidore's wife left for Belgium, but she refused her residence permit valid for 5 years, which allowed her to travel in Europe and return to her country. She returned to India after only 3 weeks. On June 22, 2023, Isidore collected e
Read more

Award ceremony to honour outstanding achievements

Image
An award evening ceremony titled “PURASKARA SANDHYA 2023” organised by Indian Magic Academy was held in a grand magical manner on 3 rd September 2023 at Madras Kerala Samajam Hall, Chennai.   Film star Seema inaugurated the award ceremony. The chief guest, Hon. Minister of Tamil Nadu Shri. P. K. Shekar Babu along with actress Seema jointly distributed the Mantrika Shrestha Award, Mantrika Ratna Award, and the Overall Contribution Awards at the event. The event was presided over by Shri E. Karunakaran. Magician Shornur Ravi welcomed the gathering.   While the Overall Contribution Awards were received by Mayan Vaidhar Shah, Kadattanad Vijayan, and E.K. P. Nair, the Mantrika Shrestha Award was received by Sreejith Viyyur, and Mantrika Ratna Awards were given to Saravanan Palakkad, Attukal Sudhish, Haridas Thrissur, Senthil Kumar Chennai, B. L. Krishna, and Sasi Thazhathu Vayal. Senior magicians R. K. Malayat and Magic Mohan were guests of honor.    Participating on the dais were m
Read more