IT PARKS NEAR OUTER RING ROAD
Three IT parks to come up at Mannivakkam, Malayambakkam and Vandalur along Outer Ring Road in Chennai
In a major boost to the software industry in Tamil Nadu, the state government is planning to develop IT parks on three sites of the 50-metre strip of land along the eastern side of the Outer Ring Road (ORR) in Chennai.
Sources said the Chennai Metropolitan Development Authority (CMDA) has issued enter upon permission for three sites — Malayambakkam, Mannivakkam and Vandalur — following the request of Tidel Park Limited.
The sites were allotted after conducting a land valuation for the entire ORR stretch. While 5.33 acres on the Malayambakkam stretch, valued at Rs 3 crore per acre, has been allocated for the first IT park, the second one will come up on 5.04-acre area of Mannivakkam where the land value has been fixed at Rs 5 crore per acre. The third IT park is planned at 0.5 acre-area in Vandalur where the land value is Rs 8.05 crore per acre.
Currently, the government is targeting to woo Global Capability Centres (GCCs) to set up a base in the state as they could generate high-end jobs for the youth. According to a report of Knight Frank, a global real estate consultant company which has done the land valuation along the 50-metre stretch, there are around 160 GCCs in Tamil Nadu, constituting about 10% of the national count.
CBRE South Asia Pvt Ltd, a leading real estate consulting firm, in its report ‘India’s Global Capability Centres – Charting a New Technology Era’ stated that GCCs are likely to lease office space of 62 million sqft between 2023 and 2025.
Infrastructure Transforming the Landscape
Vandalur is home to the Kilambakkam Bus Terminus, one of South India’s largest transit hubs, which enhances intercity and interstate travel. The upcoming metro line to Kilambakkam will further improve connectivity to Chennai’s central business districts and IT corridors. Whereas, Manivakkam benefits from seamless access to ORR and the Oragadam-Vandalur Corridor, ensuring smooth travel to Bengaluru and other employment and industrial hubs. Located near Perungalathur, it is close to Shriram Gateway IT SEZ, Accenture, Capgemini and Infosys, as well as MEPZ in Tambaram and the Oragadam Industrial Belt, which hosts global giants like Renault-Nissan and Apollo Tyres.
The announcement of new IT parks in Vandalur, Mannivakkam, and Malayambakkam along the Outer Ring Road is set to redefine the real estate market. Combined with already established IT hubs near the proximal Perungalathur like ZOHO, Accenture and Capgemini, these developments are expected to generate significant employment opportunities, driving demand for residents in the region
Affordable and Balanced Living
Compared to the citys core areas, localities near Vandalur, such as Mannivakkam and Otteri Extension, offer cost-effective housing options with excellent appreciation potential, while providing the same benefits as central urban locations. These areas strike a perfect balance between urban conveniences and green, serene surroundings, making them increasingly sought after for a well-rounded lifestyle. Landmarks like the Arignar Anna Zoological Park and reputed schools, colleges, hospitals, and shopping centers are another benefit of family-friendly appeal.
