It doesn’t come as a surprise that the Multinational giants are considering Chennai as one of their hub spots & opening up new centres in the city. The sudden demand for commercial spaces post-pandemic and the infrastructure boom in the city has added fervour to buy plots in Chennai.
As we look ahead at the approaching new year, with the changing business demands, new developments, evolving work models, and the rates of the land for sale in Chennai, the city’s commercial real estate market is poised for substantial growth.
To buy a commercial plot for sale in Chennai, one needs to be aware of the trends & other key aspects, to make a profitable investment. This blog will brief about the evolving trends & projections and the potential locations to consider before you buy a commercial plot for sale in Chennai.
Looking for a commercial plot for sale in Chennai? Do not miss these updates.
Trends & Demand for Office Spaces.
- Due to the rise of hybrid and flexible work schedules, Chennai’s commercial real estate market in 2024 will continue to evolve.
- There will be an increase in demand for smaller/flexible workspaces, co-working hubs, and serviced offices.
- Bustling locations like Perungalathur, Sriperumbadur, & Thiruvanmiyur well-known for their accessibility to the coast and Tech Parks will draw in more modern office spaces.
- Central Business District (CBD), Old Mahabalipuram Road (OMR) and Tidel Park will remain the forerunners of Grade-A office spaces.
- Up-and-coming areas like Perungalathur, Thirumazhisai, & Thirukazhikundram offer affordable commercial plots for sale in Chennai for businesses, while still offering good connectivity to key business districts.
Development in Industrial and Warehousing Spaces.
- The growth in the city’s logistics sectors in the locations close to the Chennai-Bangalore highway especially will hike the demand for land for sale in Chennai.
- The city being a major hub for automobile manufacturing, e-commerce, and SCM, will continue to witness high demand for warehousing spaces.
- Locations like Thirumazhisai & Sriperumbadur, owing to their proximity to transport hubs and ease of access to main highways, will experience industrial boom.
- The increasing reliance on e-commerce & last-mile delivery networks has spurred attention in logistics parks and warehouses in peripheral areas like Perungalathur.
- When buying a commercial plot for sale in Chennai, focus ample space needed for large-scale logistics operations & connectivity to the city’s transport infrastructure.
Sustainability in Commercial Real Estate
- With more focus by MNCs on reducing carbon printouts, eco-friendly office spaces will be in high demand.
- The commercial land for sale in Chennai will have sustainable design elements like energy-efficient lighting, water recycling systems, & green roofs.
- Premium office spaces in Tidel Park & OMR, with high potential for rental value will have offices with global sustainability standards.
- Locations like Thiruvanmiyur, Ponmar, Thirumazhisai with its blend of residential, commercial, and IT developments, will draw-in new sustainable buildings with modern amenities and eco-friendly features.
New Business Developments in Suburban Locations.
- When you buy a commercial plot for sale in Chennai in suburban locations like Perungalathur and Thirumazhisai, it offers other significant opportunities.
- These areas, located on the outskirts offer affordable plots for sale in Chennai with excellent connectivity.
- Perungalathur, with its proximity to the Chennai Bypass and the GST Road, is becoming a popular location mid-range office developments.
- More developers and businesses will prefer to buy plots in Chennai in suburban areas like Thirumazhisai for their cost-effective alternatives & well-connected spaces.
Technology and Innovation in Real Estate
- An ideal commercial plot for sale in Chennai will have innovative solutions & technology-integrated services.
- From smart buildings equipped with IoT-based solutions to AI-driven plot management, these advancements will enhance operational efficiency and attract tech-savvy tenants.
- OMR, a prominent Tech corridor in Chennai, will witness growth in tech-enabled commercial spaces as organisations will continue to invest in high-tech infrastructure.
The commercial plots for sale in Chennai, characterized by flexibility, sustainability, and strategic suburban growth is set to change work models, and hike the demand for modern, flexible office spaces in key locations like Thiruvanmiyur, OMR, and Tidel Park.
If you are looking to buy a commercial plot for sale in Chennai that’s innovative, sustainable & with strategic utilization of suburban areas? Then, head to the Elephantine Enterprises website today. With more than 5 fast-selling out ongoing projects & over 4 new mega projects in the pipeline, secure an ideal commercial plot for sale in Chennai, with impressive accessibility & amenities.
