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TIDCO mulls plot development in Fintech City as GCCs

Monday, 22 Jan 2024
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Tamil Nadu Industrial Development Corporation (TIDCO) is considering to develop e-auction vacant plots in Fintech city in Nandambakkam, Chennai for development of BFSI/Fintech-related global capability centres (GCCs).

Two adjacent land parcels, totalling three acres, in the plan development of Fintech City's South Phase is proposed to be used for development of GCCs. TIDCO has invited BFSI and fintech companies, GCCs and real estate developers (end usage for BFSI/Fintech companies) to participate in this e-auction. The plots on offer, S15 and S16, each 1.5 acres, are part of a multiple-use zone suitable for office, residential, and hospitality developments, with no further reclassification required. The land is encumbrance-free, with a 99-year lease period, and all clearances will be processed through a single-window system.

Fintech City, spanning 111.4 acres, represents an investment of Rs 12,000 crore and aims to create 1,50,000 work opportunities. It boasts of proximity to a metro station and the airport, and a robust and well-planned social infrastructure. The presence of these GCCs will further  reinforce the city's strategic positioning and its ability to attract major corporations in global banking, finance and fintech. 

With a residential, commercial, and hospitality developments, including a convention and hotel complex, along with a central park, this greenfield city is a hub of modern infrastructure.

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