TN is considering turning undeveloped land in Fintech City into Global Capability Centers

Tamil Nadu Industrial Development Corporation Limited (TIDCO) is planning to e-auction empty plots in Fintech city in Nandambakkam for the development of BFSI/Fintech-related GCCs. TIDCO is hoping to capitalize on the expansion of Global Capability Centers (GCCs) and guarantee high-end employment for the youth.

It has been discovered that the intended use of two nearby property parcels, totaling three acres, in the South Phase master-planned development of Fintech City is for the establishment of GCCs. To participate in this e-auction, TIDCO has extended an invitation to BFSI and Fintech firms, GCCs, and real estate developers (end use for BFSI/Fintech enterprises). This is an unmatched opportunity to be a part of an integrated metropolis with a well-established infrastructure. The 1.5-acre plots, S15 and S16, are offered as part of a multiple-use zone that may accommodate residential, office, and hotel projects; no further reclassification is necessary. With a 99-year lease tenure and no liens, the property is cleared using a single-window system for all clearances.

“BFSI and Fintech firms now have an exceptional and unmatched chance to purchase and run their operations out of premier real estate in Chennai. It’s not often that businesses in the city can get such prime sites for their headquarters. According to TIDCO managing director Sandeep Nanduri, “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.”

Global businesses have been establishing their Global Capability Centers (GCCs) in Chennai in large numbers lately. This new construction highlights the city’s increasing significance as a center for international corporate activities. These GCCs are present in Chennai as a result of the city’s advantageous location and capacity to draw significant global businesses. According to a TIDCO announcement, the company wants to capitalize on this trend and enhance Chennai’s standing as a top location for international banking, finance, and fintech businesses.

The requirements for participating in the transparent e-auction process include registering at https://tntenders.gov.in and submitting a Class 3 Digital Signature. An application submission procedure via e-tendering is the first step in the bid process flow, which ends with the lease deed being signed.

With a total area of 111.4 acres, Fintech City is a strategic investment of Rs 12,000 crores, with the goal of creating 150,000 employees once it is fully operational. This greenfield city, with its blend of residential, commercial, and hospitality complexes, a central park, and a conference and hotel complex, is a center of contemporary infrastructure and boundless opportunities.