Real estate developer IndoSpace has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government during the Tamil Nadu Global Investors Meet 2024. Valued at Rs 2,000 crore, this landmark agreement aims to contribute to the state’s industrial landscape and economic growth.
The official announcement was made during the Tamil Nadu Global Investors Meet 2024, presided over by M.K. Stalin, Tamil Nadu’s chief minister, and Piyush Goyal, India’s union minister of commerce and industry. This investment by IndoSpace is anticipated to generate 15,000 new jobs, providing a substantial boost to employment opportunities in the state.
Rajesh Jaggi, vice chairman- real estate, Everstone Group, said “Tamil Nadu continues to be a very important destination for us in developing industrial parks. It makes us proud that in providing world-class industrial logistics facilities to our clients, we are also able to contribute to enhancing the state’s industrial infrastructure. Signing this MoU is significant for us as it reaffirms the government’s trust in our capabilities. We are confident that this partnership will not only contribute to Tamil Nadu’s
IndoSpace has an existing land bank of approximately 600 acre in the region. With a presence of 14 grade A industrial and logistics parks located around the main industrial hubs, IndoSpace has developed and leased around 13 million square foot (msf) with a total investment of approximately Rs 4,000 crore in the state. This MoU with the Tamil Nadu Government has led to the planning of an additional 5 msf of land in the state.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
Email: [email protected]
Related Posts
Maharashtra to get 10 new airports.
IGBC launches India’s first Net Zero Carbon rating system.
Tamil Nadu announces new property values for streets, roads.
TN, WB and Kerala to get 78,500 more homes, under Pradhan Mantri Awas Yojana.
Affordable housing is finally a safer bet for lenders.
Tamil Nadu government proposes new housing policy.
