DLF plans to invest ₹5,000 crore in phases to develop a new 6.8 million sq ft commercial project — DLF Downtown — in Chennai’s Taramani locality. The project is DLF's fourth in the city, said Mohit Gujral, CEO, DLF.
The company will commence construction of DLF Downtown with 2.5 million sq ft of built-up area 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.
Taramani has emerged as a major commercial area in recent years. DLF, in a joint venture with Tidco, is developing a campus spread over 27 acres. The Taramani project will add 70,000 direct and 6,000 ancillary employment opportunities once fully operational, said Gujral.
Chennai will become DLF's second largest market after Gurugram, he added.