After Gurugram, DLF eyes Chennai; to invest Rs 5,000 cr in and around city

DLF is planning to invest around Rs 5,000 crore to build commercial projects in Chennai. The company will be developing 6.8 million sq ft space.

The new project is DLF's fourth project in the city, said Mohit Gujral, CEO, DLF.

Around 2.5 million sq ft of built up area will be delivered in the first phase, he said at the project's foundation stone laying function.

Tamil Nadu Chief Minister Edapaddi K Palaniswami laid the foundation stone of DLF Downtown located in Taramani, which has emerged as a major commercial area.

DLF in a joint venture with Tidco is developing a campus spread over 27 acres. DLF Taramani will add additional 70,000 direct and 6,000 ancillary employment opportunities once fully operational, he said.

The city will become the company's second largest market after Gurugram.