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Showing posts from November, 2018

Anna Nagar, Chennai: Case of Serendipitous Growth

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Office Spaces Near Anna Nagar in Chennai The Chennai IT office micro market has evolved around the peripheral areas of the city owing to the requirement for large spaces. The traditional CBD, predominantly catering to the non-IT sector has been around T Nagar, Anna Salai, Nungambakkam, Alawarpet. Within this radius lies Anna Nagar. Predominantly a residential area, boasting of the only catchment in Chennai following a standard numbering system for addresses (a system followed in the west), Anna Nagar acts as a feeder district of white collar workers to surrounding commercial office micro markets. Being a properly planned catchment, Anna Nagar is preferred for rent by office dwellers for its well-maintained civic infrastructure, foliage cover (a rarity in urban sprawls) and relative safety, thus providing a holistic environment for settlement of families.   The office catchments of Nungambakkam and T Nagar, both within 9-10 kms offer the closest office spaces near Anna Nagar,

Future Trends for Office Development in Chennai

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Office on Rent in DLF Chennai Prior to 2000, the Chennai commercial office market followed the trends of other city micro-markets, with commercial office spaces predominantly focused around the centre of the city. For Chennai this was and still is, especially for non IT businesses, the Anna Salai, Alwarpet, T Nagar, RK Salai belt. Typically, any company looking for office on rent in Chennai would narrow their search to within this radius. As is wont with CBDs in metro cities, these areas are well connected via all forms of transport and have residential pockets as well as means of leisure in the near vicinity, thus providing a holistic ecosystem for people to work and live. However, post 2000, this situation changed. With the promulgation of the SEZ policy, IT service export emerged as a major avenue for economic development in India and Chennai also followed suit. In fact by 2018, as per estimates, 15% of India’s IT workforce, resides in Chennai. Quite naturally, the erstw

DLF IT Park, Chennai: A Case Study

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Fully Furnished Office Space for rent in Chennai From being a temple city, Chennai could very well now be called cyber city, what with sprawling IT Parks, located predominantly towards the west and south of the city, outnumbering temples. The IT boom in Chennai has attracted a whole host of private developers such as Brigade, DLF, Embassy, Ascendas, to just name a few, to set up expansive commercial campuses in the city to tap into the latent demand for office spaces designed specifically to cater to the needs of IT companies. In order to understand the dynamic of such large, customized complexes, it would be perhaps edifying to pick one major IT Park in Chennai for analysis. An ideal example would be DLF IT Park, Chennai that boasts of being the first development of its kind in South India. Spread across 44 acres with built up area of 5.68 million sq.ft., the development is a hallmark in commercial real estate in Chennai. It is located conveniently within the city, wi