DLF plans to develop 20 mn sq ft of office space

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SME Times News Bureau | 24 Jan, 2020
Realty major DLF is planning to develop office space of about 20 million square feet in Gurugram and Chennai over the next 6-7 years, a top official said on Thursday.

Speaking to reporters here, DLF CEO Mohit Gujral said that about 11 million sq ft will be in Gurugram, while about 7 million sq ft will be in Chennai and the balance in other parts of the country.

He said the project would attract an investment of about Rs 13,000 crore.

Gujral was here for the foundation stone laying ceremony for the company's new project DLF Downtown, a joint venture with Tamil Nadu Industrial Development Corporation Limited (TIDCO).

Laying the foundation stone for the project which would house IT and ITES companies, Tamil Nadu Chief Minister K. Palaniswamy said that owing to the efforts of his government, the state is attracting new investments.

"Within a span of one year, we are able to support the beginning of commercial production of 59 GIM (global investors meet) projects. Another 213 projects are under various stages of implementation," Palaniswamy said.

"The recent investments by TCS and Infosys alone are expected to create 31,000 direct IT sector jobs in the state," he added.

According to Palaniswmay, many new infrastructure projects like Phase II of Chennai Metro Rail, and road and flyover projects are being taken up at an outlay of Rs 1,150 crore in Chennai.