The overall vacancy level (unoccupied commercial space) in the city is about 12%. Increased corporate occupancy in quality IT and ITEs projects in Guindy, Velachery, Perungudi and Taramani resulted in a quarter-on-quarter rental appreciation, said the report. Apart from more than three lakh sq ft that are under construction in Guindy, we are planning for another two lakh sq ft of commercial space in Guindy industrial estate by 2017," said Chordia.DLF is promoting about 3.77 lakh sq ft in SEZ, which is expected to be ready by the third quarter of 2017. Old Mahabalipuram Road is the highest at 18%, followed by Ambattur 14% (including committed space, but yet to be occupied). Kochar, Radiance, Ministar, KRC, RMZ and ASV are also in the race to promote IT, ITEs and industrial space.Guindy also boasts of the lowest vacancy level among various micro markets in the city.

Source: Times of India August 11, 2016 22:18 UTC