CHENNAI: In a bid to cash-in on the growth of Global Capability Centres (GCCs) and ensure high-end jobs for the youngsters, Tamil Nadu Industrial Development Corporation Limited (TIDCO) is eyeing to e-auction vacant plots in Fintech city in Nandambakkam for development of BFSI/Fintech related GCCs.
It is learnt that two adjacent land parcels, totalling 3 acres, in the master-planned development of Fintech City's South Phase is proposed to be used for development of GCCs. TIDCO has invited BFSI and Fintech companies, GCCs and real estate developers (end usage for BFSI/Fintech companies) to participate in this e-auction, offering an unparalleled chance to be part of an integrated city with established infrastructure. The plots on offer, S15 and S16, each 1.5 acres, are part of a multiple-use zone suitable for office, residential, and hospitality developments, with no further reclassification required. The land is encumbrance-free, with a 99-year lease period, and all clearances will be processed through a single-window system.
“This presents a unique and unparalleled opportunity for BFSI and Fintech companies to acquire and operate from prime real estate in Chennai. The chance to secure such premium locations for their offices is rare within the city. Fintech City is designed to offer exceptional connectivity, with proximity to both a metro station and the airport, complemented by a robust and well-planned social infrastructure,” said Sandeep Nanduri, managing director of TIDCO.
Chennai has recently seen a significant influx of global companies setting up their Global Capability Centers (GCCs). This development underscores the city's growing importance as a hub for global business operations. The presence of these GCCs in Chennai is a testament to the city's strategic position and its ability to attract major international corporations. TIDCO hopes to tap into this trend and build Chennai's reputation as a prime destination for global banking, finance and fintech companies, a TIDCO release stated.
The e-auction process is transparent, with prerequisites including registration at https://tntenders.gov.in and submission of a Class 3 Digital Signature. A bid process flow is established, starting with the submission of applications through e-tendering and concluding with the signing of the lease deed.
Fintech City, spanning 111.4 acres, represents a strategic investment of Rs 12,000 crores, aiming to create 150,000 jobs upon full operation. With its mix of residential, commercial, and hospitality developments, including a convention and hotel complex, and a central park, this greenfield city is a hub of modern infrastructure and immense possibilities.