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Property rates in Chennai

Rates by:

Knight Frank

1. Values indicated above are quoted base rental values for retail space across locations.
2. Values are excluding taxes, maintenance, car park charges, floor rise and other charges that may be applicable.
3. The values may vary depending on the location
4.99 Acres Price trend are based on asking rate and not necessarily on the transaction rate
Note
Chennai Rental Rates Rate/Sq ft (INR)
(min / max)
Updated on
Anna Nagar 45 - 55 May 2012
Guindy 38 - 60 May 2012
Mount Road 57 - 82 May 2012
Nungambakkam High Road 60 - 82 May 2012
OMR 24 - 30 May 2012
Seruseri 22 - 28 May 2012

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Property Terms

Anchor tenant

One or more department or variety chainstores, or supermarkets, introduced into a shopping centre in key positions to attract the shopping public into the centre for the purpose of encouraging other retailers to lease shops en route. The larger the developments the more anchors required.

Alternative user value

The value of land and buildings which reflects a prospective use which is different from that of the current use.

Abatement notice

A notice served on the owner(s) or occupier(s) of a property from which a private nuisance arises, warning them of the intention to enter on the land in order to abate the nuisance.

Atrium

An entrance hall of a building, often rising through a number of storeys and containing lifts, reception areas and plants. Originally the hall or chief apartment of a Roman house.

Assignment

The transfer of a property interest, especially a lease, from one party to another.

Agreement for lease/sale

A contract to enter into a lease (or sale), which in order to be enforceable either must be evidenced in writing and signed by the person against whom action is taken for the breach of the alleged contract and there must be a sufficient act of part performance.

Asset valuation

In the property market this expression is applied to the valuation of land and buildings or plant and machinery. The term is often used to describe an expert opinion of the worth of a property which may be incorporated into company accounts, where the ownership of the asset is not necessarily to be transferred but the valuation is required for the company takeovers, share flotation or mortgages.

Absolute title

The right of ownership of a mortgage deed, which gives the right, in certain specified circumstances, to demand repayment in full, of the outstanding debt than the due date. Or a clause in a deed or contract, which provides for the early termination of an exciting interest in land, in certain specified circumstances, thereby advancing the future interest.

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