SPR City, a joint venture floated by SPR group and Binny Ltd., will become operational by 2020-21, said a senior official.
“We have received all the necessary approvals and the G.O. We will roll out the project in the next five to six months,” said Navin Ranka, Director, SPR.
Financially backed by the Piramal group, the promoters have begun seeking expressions of interest for the ₹1,100-crore wholesale market complex branded ‘Market of India’, coming up in North Chennai.
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The 70-acre Binny Mill premises will also host high-rise apartments in two phases, an international school, a three-star hotel, commercial offices for support services, a fire service centre, a multiplex and a business expo centre, among others, to make it one of the largest townships of its kind. According to Mr. Ranka, Market of India will have 11 markets spanning 4-8 acres each, 18 kms of trade corridor, truck terminals and LCV parking facility and 11 acres of built-up space for warehousing.
Each floor will be named after the traditional markets of Chennai such as Burma Market, Ritchie Market, Mint Market and Kasi Chetty market.