CHENNAI: Tamil Nadu Chief Minister M K Stalin on Monday inaugurated a Rs 249-crore FinTech Tower in Nandambakkam here, stepping up the state’s push to position itself as a hub for digital finance, as fintech becomes central to India’s payments, lending and wealth-management ecosystem.
The facility, spread over 5.56 lakh sq ft, is the first major asset to be delivered under the state’s planned 56-acre FinTech City project, for which the foundation stone was laid in June 2023.
Built on 2.26 acres, the building comprises two basements, a ground floor and 11 upper floors, and has been designed with infrastructure tailored for financial services companies.
The project aims to create high-skill jobs and attract fintech firms looking to scale outside traditional centres such as Bengaluru and Mumbai.
At the inauguration, office space allotment orders were issued to Prime Forex Pvt. Ltd., Simptra Technologies Pvt. Ltd. and MidFin Wealth Pvt. Ltd., marking the start of commercial occupancy.
More allotments are expected as the government pitches the tower to fintech, NBFC and broader financial services firms.
The state has increasingly positioned fintech as a strategic sector, seeking to leverage Tamil Nadu’s strengths in IT services, data centres and back-office financial operations.
The focus is on moving up the value chain—from transaction processing to product development in areas such as digital payments, embedded finance, forex platforms and wealth technology.
The FinTech Tower offers ready-to-occupy premium office space and has been built according to LEED Platinum green building standards.
Facilities include multi-level parking, conference halls with seating capacities of 250 and 50, food courts, a gymnasium and a childcare centre—features officials say are designed to meet the needs of large, compliance-heavy financial firms.
Industries Minister TRB Rajaa said the project reflected the state’s strategy of building sector-specific infrastructure rather than generic office parks.
Alongside the government-led FinTech Tower, private investment has also begun to take shape within the zone.
The Cube, a four lakh sq ft commercial development jointly promoted by Axis Commercial Real Estate Fund and global real estate firm Tishman Speyer, is the second major project under development at FinTech City. Axis CRE Fund secured one of the first two land parcels through a competitive auction, signalling early private-sector interest.
MSME Minister TM Anbarasan and senior officials, including Chief Secretary N Muruganandam, were present at the event.