Eicher Motors Leases 3.92 Lakh Sq Ft in Sriperumbudur as Chennai Industrial Leasing Hits Record

Eicher Motors has leased 3.92 lakh sq ft at Casagrand Industrial Park in Sriperumbudur for seven years, as Chennai’s industrial leasing market hit a record in the first half of 2026, Hindustan Times reported in August 2026.

The Hindustan Times¹ reported that the rent is ₹82.45 lakh a month, or ₹21.06 per sq ft. The property is owned by Casagrand Blue Horizon Private Limited. The lease deed was registered on July 31, 2026, and the lease began on August 31. Rent payments start in May 2027.

What the lease involves

The report said the security deposit is ₹5.24 crore. Rent and maintenance charges rise 3.5% a year after the first two years. Eicher will use about 4 lakh sq ft as a Royal Enfield auto spare parts consolidation facility.

The lease fulfils a pre-leasing commitment announced in 2025, when Casagrand and Blackstone said they would co-develop two industrial parks at Sriperumbudur. The parks span 4.2 million sq ft across 154 acres. Blackstone is investing ₹700 crore, and the facilities are due to be completed in 30 months, the report said.

Chennai market figures

According to the report, Chennai’s warehousing market recorded 2.3 million sq ft of leasing in the first half of 2026, up 10% on the year. Industrial leasing reached a record 3.8 million sq ft, or 63% of overall activity. That was 79% higher than in the second half of 2025 and 64% higher than a year earlier.

The report also listed other large leases in Chennai. Zomato’s Hyperpure took 3.5 lakh sq ft at Hiranandani Industrial Park, Redhills, at ₹25 per sq ft a month. DHL Supply Chain took 4.28 lakh sq ft at Indospace Industrial & Logistic Park, Vishnuvakkam.

Casagrand Industrial & Warehousing has delivered 6 million sq ft and is executing a 15 million sq ft pipeline, the report said.

Asking rates in Sriperumbudur and Periyapalayam

Asking rents for warehouses in Sriperumbudur are about ₹27 per sq ft a month (2026 Q1 to 2026 Q4) on PropertyWala, up 6.7% on the year before and in line with Chennai’s average of about ₹27.² Asking sale rates for warehouses there were about ₹654 per sq ft (2024 Q1 to 2025 Q2), compared with Chennai’s average of ₹3,760.

Warehouses and godowns account for about a third of the properties listed in Sriperumbudur. Residential land is the largest share at 49%, followed by apartments at 14%. Residential land sells for about ₹1,841 per sq ft (2025 Q4 to 2026 Q3), well below Chennai’s average of ₹5,282.

In Periyapalayam, which has few listings, all of them warehouses, rents are about ₹19 per sq ft (2017 Q2 to 2026 Q3), close to Chennai’s average of ₹19.

What lies ahead

Other developments in the belt are under way. The Hindu reported in March 2026 that the first phase of the ₹1,424 crore Mappedu multi-modal logistics park in Tiruvallur district was due to open in April 2026. The Verified portal reported in September 2026 that the Chennai Peripheral Ring Road section from Tiruvallur to Sriperumbudur was 24% to 28% complete in February 2026, with completion expected in 2028.

Casagrand and Blackstone’s two parks at Sriperumbudur are due to be completed in about 30 months from the 2025 announcement, according to the Hindustan Times report. Warehouse and plot searches for the area are available on the Chennai page.