DLF group will develop four million sq. ft of office space in two information technology-focussed projects in Chennai.
The first will see the company expand its DLF IT Special Economic Zone (SEZ) in Manapakkam, about eight km from Chennai Airport. In the second project, it will build a SEZ for IT and ITeS at Taramani, the city’s IT hub.
The proposed investment in these projects would be about Rs.2,000 crore and Rs.2,500 crore respectively, with the funding requirements met through internal accruals, DLF’s southern zonal head Ramesh Kondalswamy said. The company announced the expansion programme at the Global Investors Meet held during September. It was followed by signing of Memorandum of Understanding with the Tamil Nadu government.
Talking to The Hindu , Mr. Kondalswamy said: “We have already established ourselves as a reputed developer in the country by completing our projects ahead of schedule. While the shell and buildings are completed by us, we leave the fit-out to the prospective clients.”
“We are planning to develop 1.5 million sq. ft. office space in 10 tower blocks consisting of ground plus 14 floors. The state government has promised to give all clearances through a single window clearance system within 30 days from the date of submission of our application, master plan and design,” he said.
Regarding the Taramani project on the IT corridor, Mr. Kondalswamy said that it was being jointly developed by DLF in association with the Tamil Nadu Industrial Development Corporation, which has a small stake in the venture. The mandate is to develop 2.5 million sq.ft of office space. Both the projects would be completed within two years.
