CHENNAI: The Housing and Urban development department is assessing and encouraging investments to the tune of Rs 1 lakh crore in large size housing and township projects, according to official sources.
Industry sources said that housing sector has already wooed Rs 25,000 crore worth of projects which pertain to setting up of townships, large scale housing projects, IT parks and special economic zones.
This comes after a high-level meeting was held last month which suggested possibilities of bringing in major investments from housing and construction sector and also from energy and renewable energy sector for signing the MoUs during the Second Edition of Global Investors Meet on January 23-24. A top housing department official refused to comment on the total number of investments in the housing sector. He said that the department is assessing and encouraging investment in the sector.
Interestingly, this also comes as housing department is wooing investors to finance the Shelter Fund, which is a social impact fund with lower rate of returns. Similarly, the state government is also wooing investments in deep sea fishing and other sectors from the entrepreneurs based in Korea, Japan and Taiwan. Interestingly, the information technology department has already stated that it is planning to woo Rs 15,000 crore investments during GIM.
23 topics finalised
Tamil Nadu government has identified 23 topics of seminars during the Second Edition of Global Investors Meet (GIM) and KPMG, the knowledge partner of the event has started preparing notes on each topic of seminars.
F11.75 cr adv budget for GIM
The Tamil Nadu government has earmarked Rs 11.75 crore to advertise the Second edition of Global Investors Meet and the fund has been approved.