CHENNAI: In a bid to unlock the growth potential of North Chennai, the Confederation of Indian Industry (CII) has suggested to redevelop the bustling Sowcarpet into a Trade Park.
The area has already been recommended by the Justice Rajeswaran Committee to be redeveloped and a CII study, ‘A Case for Development of Wholesale Trade Parks,’ released by Housing Secretary S Krishnan on Thursday highlighted the same.
Sowcarpet, spread over an area of 10 sq km, housed over four million people and is largely famous for wholesale goods, saree shops and dress materials, readymade garments, steel utensils and durables and various other commodities.
The locality has 80 per cent of the 150 buildings, which are in a dilapidated condition as per Chennai Corporation statistics. It also has less than one per cent of buildings, which are built without any violations as per the survey carried out by the civic body.