Chennai witnessed leasing activity of 2.1 mn sq. ft. in Q1 2022, a significant 181% YOY increase. Of these, large-sized deals of 100,000 sq. ft. or more contributed 52%, a marked deviation from 2021, where mid-sized deals dominated the leasing activity.

Although the city witnessed a matching supply of 2.1 mn sq. ft., vacancy levels increased slightly from 13.2% in end 2021 to current levels of 14.8% on account of real estate portfolio realignment by occupiers.

Download Chennai Market Snapshot | Q1 2022 for more updates.