Axis Bags 1.5-Acre Plot for Chennai Fintech Hub

Axis Commercial Real Estate Fund, a collaboration between Axis Asset Management and global real estate developer Tishman Speyer, has secured a 1.5-acre plot in Chennai's emerging Fintech City. The acquisition, achieved through a bid-cum-e-auction process by Tamil Nadu Industrial Development Corporation (TIDCO), marks a significant step in the city's development.

The plot, located in Nandambakkam, is set to be transformed into a state-of-the-art Grade-A office building spanning approximately 400,000 square feet. The project is part of Tamil Nadu's ambitious plan to attract ₹12,000 crore in investment and create 80,000 jobs through the Fintech City initiative, with the development expected to be completed within three years.

Tishman Speyer will serve as the exclusive development manager, overseeing the design, development, leasing, and property management of the new office building. This role reflects Tishman Speyer's extensive experience in managing high-profile real estate projects globally.

Axis Commercial Real Estate Fund, with a corpus of around ₹550 crore, specializes in early-stage commercial real estate ventures. In partnership with Tishman Speyer, the fund focuses on key markets, targeting high-potential office spaces across India.

News by Rahul Yelligetti