Chennai holds 16 percent share in total SEZ office space
Posted on: 07/Aug/2018 11:33:57 AM
According to a report submitted by property consultant CBRE Chennai has sixteen percent share in the total composition of Special Economic Zone (SEZ) office space across the whole nation. SEZ office space occupies majority of the spaces in seven leading cities of India such as Chennai, Bengaluru, Hyderabad, Pune Kolkata, Mumbai and Delhi-NCR.
SEZ space officially categorized on a 22 percent mark holding office stock in India and the above mentioned cities grabbing 80 percent of the stock. One of the reports clearly suggest the inclusion of over 30 percent stocks into SEZ was done between 2015 and 2018 (January to June).
There are plans to establish more office space with a rise up to 20 percent aiming for 80 percent supply pipeline in Chennai, Hyderabad, Delhi-NCR and Bengaluru.
With this report Chennai highlighted with 14 percent of SEZ supply in the year 2018-19. Dividing the SEZ categories through individual sectors, the tech industry tops the list followed by pharmaceutical, e-commerce, banking, consulting, engineering, manufacture and research setting up a place in the total graph.
Corporate tax reduction and exemptions for SEZ developers encourages more office space construction in primary locations of the country. An estimated 3.4 crore square feet of SEZ space was obtained across the seven cities of India within the year 2018 first half.
