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Tamil Nadu Industrial Development Corporation (TIDCO) director of ventures said to www.propertykhazana.com that, “Tamil Nadu Govt. is proposing a special IT industry economic zone straddling 1,500 Sq.Km. The petroleum, chemicals and petrochemicals investment area at Cuddalore bears an investment of Rs. 20,000 Crores and the IT investment area near Chennai was the main ventures leaving 70 SEZs proposed in the State.” This was said at the FICCI-MIBC meeting on realty and infrastructure. He added that, we wait for the sanction by this year end later will start working on Phase 1 venture and this will be bigger than the Cuddalore venture, he added.
According to him, it will be performed in two phases in which the first phase will not cover over 25% of the venture region and will be finished within 4-5 years and 2nd phase within 18-20 years. As per to the sources saying at the www.propertykhazana.com, phase 1 will commence in Kancheepuram and Chengalpet localities, the plan is to take the stress off the metro, as the northern side with Chennai is setting up and company is concentrating mainly on the southern side of the venture. About 255 Sq.km will be enough for such a venture but is going in for 1,100 Sq.km as the development must not be plugged within a small locality. This area will be managed by a development authority on the outline of Chennai Metropolitan Development Authority. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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