Frontiers of Growth for the Commercial Office Market in Chennai
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Chennai has emerged as a nodal point
for chiefly three major industries. The prominence of the IT sphere is well
documented. Large IT campuses handling outsourced third party or captive
operations for global business majors have come to symbolize the city. However,
another significant business presence is of the automobile and the telecom
sectors.
Supported by the policies of the
State Government, conurbations around Chennai have emerged as key investment
destinations for various global auto giants. Marquee names such as BMW, Ford,
Ashok Leyland, Force Motors, Daimler, Hyundai are just some of the auto
manufacturers who have made Chennai their base for serving the domestic Indian
market as well as developed it as a global export hub. Bolstered by the
presence of a port and a steady supply of qualified engineers, the city is well
placed to dominate this industry for long.
The auto industry, quite naturally,
has spawned a large auto ancillary sector as well in Chennai. Manufacturers
such as MRF, Apollo, JK Tyres, Bharat Forge, Delphi are just some of the big
names that have a captive presence in and around the city.
Another interesting facet of the
southern metro is that a significant portion of India’s internet bandwidth
passes through the city. Airtel and Tata Telecommunications have undersea cable
landing stations in Chennai. Other internet service providers need to borrow
bandwidth for their own services. Consequently, all telecom companies in the
internet distribution business need to have a significant presence in the city.
Though not as large as the local
IT/ITes industry, the aforementioned sectors present an opportunity for developers to
build quality commercial office spaces in Chennai
for rent. Being in the out and out commercial space, rental yields can
also be pegged higher than typical IT rates. If the respective industries were
to expand further, and there are no signs of that not happening, there could be
a case for developers exploring built-to-suit options as a model for commercial office space in Chennai, for rent to these corporate players.
Hence it can be said that the telecom
and auto manufacturers provide real estate developers active in the market for commercial office space for rent in
Chennai an avenue to tap into the latent demand in these sectors to
hedge their businesses against specific sectoral volatility. For more details
please log on to http://www.dlfcybercity.com/chennai/
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ReplyDeleteThank you so much for sharing all this wonderful information. It’s so appreciated .Looking forward for more such information like this. If you are looking for lease office space in Chennai then DLF downtown Chennai Manapakkam provides you the best work space with huge facilities and a great infrastructure at a prime location of the city.
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