Introduction
Tamil Nadu is undergoing wonderful infrastructural development. From advancements in residential and commercial real estate investments to the streamlining of transportation and more, the state is moving further toward offering a beautiful blend of rich traditional culture and cosmopolitan lifestyle to its citizens and tourists alike. Tamil Nadu’s capital Chennai, being a metro city, is a major tourist attraction. The city (and the state at large) is also known for its Victorian-style architecture, thanks to the preserved marvels from the British era.
There has been a range of infrastructural developments, thanks to the urbanization that the city has been going through. With the IT & Corporate sectors booming, the real estate industry has been going through a dynamic phase of development. This has led to the emergence of several mega projects that are set to generate plenty of job opportunities, thereby contributing to the economic growth of the state and, subsequently, the country.
In this blog, we will discuss the top 6 mega projects (in no particular order) that are vital to the state’s infrastructural development:
Top 6 Mega Projects in Tamilnadu
- Market Of India, SPR City
- DLF Downtown (IT corridor)
- Chennai Metro – Phase 2
- FinTech City
- Defence Corridor
- Aerospace and Defence Park Sriperambudur
1. Market of India, SPR City
Market of India, located within SPR City, is all set to change the landscape of businesses in the country for the better. It is India’s upcoming largest wholesale and retail marketplace that brings together the major trade hubs from Chennai, including Koyambedu, Parrys, Sowcarpet, Mint, Ritchie Street, and more. With world-class amenities and facilities that help make trading smooth, Market of India aims to build a self-sustained community for traders and people in business.
The Market of India is a unique, first-of-its-kind organised wholesale and retail marketplace, which is all set to grow into a very pivotal destination for businesses. A landmark-to-be, in terms of its infrastructure and amenities that conform to international standards, the Market of India is a one-stop-shop and solution for both consumer and business needs.
Market of India | Highlights
Being India’s upcoming largest wholesale and retail marketplace, Market of India offers a wide range of commercial spaces for sale for businesses and traders to set up offices and shops and grow their businesses. Here are a few commercial spaces they offer:
The Market of India comes with state-of-the-art infrastructure that includes:
- 54,00,000 sq. ft. of built-up area
- 60,000 sq. ft. of atrium space
- 18 kilometres of trade corridors
- A 1,00,000 sq. ft. Central Plaza
In addition to this, the Market of India is home to 9+ markets, 5,000+ shops, 1,00,000+ commodities, 50+ trades, and 20+ ancillary services that help promote the growth of your business.
Here’s what your business will have access to at Market of India:
- 40 lakh footfalls: An audit has projected a 40-lakh footfall for traders in the Market of India every month.
- Digital footprint: Set your foot on digital with Market of India’s online market space that houses more than 1,00,000 commodities.
- Go global: The Market of India’s Chamber of Commerce allows you to network with international traders and logistics partners to help take your business global.
- Market support: The Market of India offers more than 20 ancillary services that help you in the seamless conduction of trade.
- State-of-the-art amenities: The Market of India offers a wide range of amenities, including 24X7 security, loading and unloading facilities, warehouses and storage spaces, conference rooms, ATMs, and more.
If you are looking to set up shop in a central business district-like space and increase visibility and growth prospects, Market of India is your choice!
- Project Area: 54,00,000 sq. ft.
- Budget:
- Year of completion: 2023 ( phase 1)
- Location: SPR City, Perambur
- Website: www.marketofindia.co.in
2. DLF Downtown, Chennai
DLF is India’s top real estate developer, preferred by several multinational corporations, including Fortune 500 and IT & ITES companies like Google, Barclays, Cognizant, Citi Bank, TCS, and more. The developer group has successful constructed 5 functional IT SEZs across the country.
With its flag of reputation flying high, it is all set to open the doors of its latest magnum opus – DLF Downtown Chennai. Located in OMR and spread across a whopping 27 acres, DLF Downtown is all set to be the city’s newest landmark IT corridor. The project is expected to offer employment opportunities to more than 200,000 people, housing future-ready workspaces, along with world-class amenities that guarantee the perfect work-life balance for takers.
- Project Area: 27 acres/6.8 MSF
- Budget: Rs. 5,000 crores
- Year of completion: 2021
- Location: Old Mahabalipuram Road (OMR)
- Website: https://dlfdowntownchennai.com/
3. Chennai Metro Rail Phase 2
Chennai Metro Rail is the third-longest metro network in the country. A joint venture between the central government and the Tamil Nadu state government, it is owned by the Chennai Metro Rail Limited (CMRL). Phase-1 of the Chennai Metro Rail project that is currently functional covers a distance of 45.046 kilometres, with 2 corridors (Corridor 1 – from Washermenpet to Airport; Corridor 2 – Chennai Central to St. Thomas Mount).
The second phase of the project has been planned for a total distance of 118.9 kilometres, with 128 stations. This route will have 3 corridors:
- Corridor 3 – Madhavaram to SIPCOT (45.8 KMS)
- Corridor 4 – Lighthouse to Poonamalle Bypass (26.1 KMS)
- Corridor 5 – Madhavaram to Sholinganallur (47 KMS)
The Chennai Metro Rail is a part of the Chennai Smart City project, and phase 2 is all set to be completed by 2026.
- Total length: 118.9 KMS
- Budget: Rs. 68,180 crores
- Year of completion: 2026
- Website: https://chennaimetrorail.org/phase-ii
4. FinTech City
FinTech city is being developed and built-in Chennai with the aim of transforming the city into a global financial service hub. The space will accommodate both banking and non-banking financial institutions and has been undertaken by TIDCO. The construction is divided into 3 phases, and the government of Tamil Nadu has allotted 112.8 acres for the project. The FinTech city in Chennai is all set to be situated in Nandambakkam and Kavanur and is said to reach completion by 2025.
- Total area: 112.8 acres
- Year of completion: 2025
- Budget: Rs. 165 crores
- Location: Nandambakkam & Kavanur
- Website: NA
5. Defense Industrial Corridor
Located between Chennai and Coimbatore, the Tamil Nadu Defence Industrial Corridor was announced in the year 2019 by the Government of India. The project was inaugurated in the year 2019 and comprises 3 more cities, between Chennai and Coimbatore, including Salem, Hosur, and Tiruchirapalli (Trichy). TIDCO has collaborated with IIT-Madras and DRDO as Knowledge Partners.
While IIT Madras is set to provide testing and training facilities, among other things, DRDO is the source of resources and ideas for the construction of the Defence Industrial Corridor. Both private and public sector undertakings are investing around Rs. 3,100 crores across the five cities involved in the Defence Industrial Corridor.
- Budget: Rs. 3,100 crores
- Total area: 700 acres across 5 locations (According to The Hindu)
- Year of launch: 2019
- Location: Coimbatore, Chennai, Salem, Hosur, and Trichy
- Website: tndefencecorridor. in
Image (Source)
6. Aerospace and Defence Park, Sriperambudur
With the Aerospace and Defence Park in Sriperumbudur, Chennai is all set to become the aerospace and defence hub. The aerospace and defence park spans an area of 700 acres and was built with the aim of creating a strong industrial ecosystem for aerospace and defence manufacturing. This is an undertaking of TIDCO in partnership with SIPCOT. The park covers areas including the design, manufacturing, engineering, servicing, and maintenance of aircraft for the civil and defence sectors in the state. The construction of the park is set to be completed by 2022.
- Total area: 700 acres
- Budget: Investment of Rs. 3,000 crores by 30 aerospace firms
- Date of completion: June 2022
- Location: Sriperumbudur
- Website: TIDCO
Image (Source)
Conclusion
Currently, these are the top 6 mega projects that are ongoing in Tamil Nadu. These projects are definitely set to contribute majorly to the growth of the state’s economy and subsequently, the country’s too.
FAQs
1. Which is the biggest mega project in Chennai real estate?
Market of India is a massive upcoming mega project in Chennai, an organised wholesale and retail marketplace equipped with international-standard amenities and infrastructure. As a landmark-to-be, it is set to become a pivotal destination for businesses in the region.
2. What is the Chennai Metro Rail Project (CMRP)?
The CMRP is a mega project to develop a world-class metro rail system in Chennai. The project is expected to significantly improve the city’s public transportation system and reduce traffic congestion.
3. What are the benefits of mega projects in Chennai?
Mega projects in Chennai are significant because they contribute to the region’s economic growth and development. They create jobs, increase investment, and improve infrastructure, which can help attract more businesses and improve residents’ quality of life.
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