Chennai emerges as India’s second-largest jewellery leasing market

Chennai emerged as the second-largest jewellery leasing market in India in 2025, accounting for 27% of total jewellery leasing activity, a sharp rise from 16% in 2024. The city, along with Hyderabad, Bengaluru, Delhi-NCR, and Mumbai, accounted for over 90% of total jewellery leasing volume in 2025. According to an analysis done by real estate consultancy CBRE South Asia Pvt Ltd, Chennai recorded approximately 0.25 million sq. ft. of cumulative jewellery leasing during 2023–2025. The growth and expansion are driven by both legacy and emerging brands.

“Chennai is one of India’s most compelling jewellery retail markets, and the data reflects this clearly. In H2 2025, Chennai was among the top three cities driving retail space take-up nationally. What differentiates Chennai from other markets is its cultural bedrock. Gold buying here is deeply woven into the social fabric: weddings, festivals, and auspicious occasions drive sustained, structural demand rather than cyclical spikes,” Anshuman Magazine, Chairman and CEO – India, Southeast Asia, Middle East and Africa, CBRE told The Hindu. “As compared to markets like Delhi-NCR, where aspiration and premiumisation drive purchases, or Mumbai, where the diamond and luxury segment plays a larger role, Chennai’s demand is both high-volume and remarkably consistent,” he added. Mr. Magazine also said leading national players are actively expanding their Chennai footprint, with a clear pivot towards larger-format flagship stores.

T. Nagar, Anna Nagar, and Velachery continue to remain among the most sought-after retail destinations in Chennai. Historically, T. Nagar and Anna Nagar have consistently commanded premium pricing compared to other locations in the city. The CBRE report highlights a broader industry shift toward experience-led retail formats, including VIP bridal lounges, consultation suites, virtual try-on zones, and curated gallery spaces — trends particularly relevant to Chennai’s premium jewellery market.