CHENNAI: The state government will invest Rs 1,000 crore to develop North Chennai over the next three years. The initiative, named ‘Vada Chennai Valarchi Thittam,’ aims to address the infrastructure deficit and gaps in development in the northern parts of the city.
The scheme will be implemented by converging the funds of the Chennai Metropolitan Development Authority with ongoing schemes. Finance Minister Palanivel Thiaga Rajan also announced the development of a state-of-the-art Global Sports City in Chennai.
North Chennai, the origin of city when the East India Company was set up is deficient in infrastructure and basic amenities. Experts welcomed the move to develop North Chennai. A Shankar, COO, strategic consulting and valuation, JLL West Asia, said, “connectivity and road infrastructure are key elements to be focused on and unlocking of government land parcels along major transportation corridors.”
Anshuman Magazine, chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, believes that the announcement will stimulate the private sector to evaluate investments in the region. Ramachandra Rao, Kodungaiyur Residents Association, welcomed the announcement. He feels North Chennai has been neglected and a lot needs to be done in ensuring connectivity in the region which is divided by railway lines and Buckingham canal.
Ninety-year-old Deiva Mani, who is president of Artisan Kudiyerpuvar Pothu Nalla Sangam President Deiva Mani stressed the need for more bus services in the region. The development of North Chennai also comes as CMDA plans to develop Minjur satellite town.
Experts believe the development of Minjur as a satellite town will be a boon for economically weaker sections and low-middle-class groups, who would get structured housing as North Chennai lacks planned development.
Meanwhile, the government will prepare a detailed project report for setting up a state-of-the-art Global Sports City. The state is also planning to develop 30 acres of land in Island Grounds with modern urban amenities such as an urban plaza, exhibition pavilions, landscaping, open-air theatre, and food courts for Rs 50 crore.