After evaluating several locations for the proposed Financial City for a decade, the State government is believed to have zeroed in on the sprawling campus of the Post Graduate Research Institute in Animal Sciences (PGRIAS) at Kattupakkam, run by the Tamil Nadu Veterinary and Animal Sciences University (Tanuvas).
A month ago, the Chief Secretary, the Finance Secretary, the Animal Husbandry Secretary and other officials inspected the campus housing PGRIAS across 246.60 hectares. Financial City might require over 250 acres of the institute, originally started as a sheep farm in 1957. According to the Tanuvas website, the farm was brought under the control of the Director of Veterinary Education and Research in 1969 and renamed Livestock Research Station.
In 1976, it became a constituent unit of Tamil Nadu Agricultural University. It has functioned under Tanuvas since 1989. In 2011, the Livestock Research Station was upgraded as PGRIAS.
A senior government official said that the government was examining the campus and a detailed project report would be prepared soon. “The land parcel we are looking at is over 250 acres,” he said.
Kancheepuram district collector and surveyors also visited the place to measure the land and the final details have been sent to the departments concerned.
“TIDCO is ready with the Request for Proposal (RFP). We are waiting since elections to local bodies have been announced. This place is our first priority unless our consultant, who will be selected through the aforesaid RFP, says it is unsuitable,” said another senior government official.
He added that Plan B will be the land available next to Chennai Trade Centre, which has been recovered recently from the defunct IDPL, a Central government PSU.
Once operational, Financial City will attract investments from national and global players in sectors including banking, insurance, wealth management, risk management and startups.
State government officials said that the broad aim will be to create a world-class office space for financial services with common amenities. “We will try for special tax status similar to GIFT City in Gujarat so that international banks and stock exchanges can set up their operations in a tax-free manner, something like an SEZ,” an official said.
Asked about the future of the dairy farm, sheep and goat farm, piggery, poultry, ostrich and broiler farm and fodder production unit situated in the area, an official said they could be shifted to the proposed integrated animal husbandry park in Chinnasalem.
