CHENNAI: The Housing and Urban development department is assessing and encouraging investments to the tune of Rs one lakh crore in large size housing and township projects, according to official sources.
Industry sources on condition of anonymity told Express 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 and move is on to woo further investments in the housing sector. 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 memorandum of understandings 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. The state is planning to build half a million homes for the poor and needy and a total of $60 billion is required.
Sources also said that Micro Small and Medium Enterprises (MSME) sector has also been asked to woo projects with a minimum limit of Rs 50 lakh and above which could be taken up for signing of MoU. 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 worth of investments during GIM.23 topics of seminars finalizedTamil 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.
It is learnt that the list of speakers for seminar sessions is being prepared with the help of KPMG and Confederation of Indian Industry.The exhibition during GIM is being taken care by SIPCOT and the finalization of exhibitors during the Global Investors Meet will be done by the month-end.
Rs 11.75 crore advertising 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 by the GIM Media Committee, official sources said.