The Tamil Nadu government has decided to set up a Financial City stretching across 180 acres area at Sholinganallur Perumbakkam village near the bustling IT corridor on the Old Mahabalipuram road.  The dream project is expected to be the next growth lever for the Chennai after automobile IT and healthcare, which had attracted whopping investments in the recent past.

According to sources, the state Deputy Chief Minister, M K Stalin had announced the proposal during the last budget session and the state owned TIDCO was nominated as the nodal agency for the purpose.  The agency had identified about 180 acres of land, which was subsequently taken over by the government. The Deputy Chief Minister together with the high level team visited the site recently and has reportedly given a go ahead signal to the nodal agency to initiate steps for the Financial City’s development, they claimed.