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The Hindu
The Hindu
National
The Hindu Bureau

2023 witnessed surge in BFSI-dominated, GCC-oriented transactions in Chennai, says study

GCC IT Chennai BFSI Knight Frank India

A recent study by Knight Frank India shows that Chennai recorded a surge in Global Capability Centres (GCC)-oriented office transactions during 2023, totalling 6.02 million square feet across 71 deals.

This figure represents a substantial 176% year-on-year (YoY) increase, signifying the city’s growing prominence as a preferred destination for GCC operations.

Of all the GCC deals observed across eight major commercial markets in India during 2023, Chennai accounted for a significant 29%, further solidifying its position in the GCC landscape. This momentum marks a significant leap from the 57 deals recorded in 2022, which totalled 2.18 million square feet.

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