GTB Developers to build World Trade Center township in Chengalpattu
The ₹7,000 crore IT integrated township project is expected to be developed in phases over a period of ten years.
Chennai GTB Developers (GT Bharathi Urban Developers Pvt Ltd) has received a licence from the World Trade Centers Association (WTCA) to develop the World Trade Center Chengalpattu, according to The Hindu.
The project is planned as an IT integrated township spanning 100 to 150 acres instead of an industrial estate. The estimated value of the development is ₹7,000 crore and it will be built in phases over roughly ten years.
The proposed masterplan for the Chengalpattu site features an education zone, residences, hospitality, and commercial and IT office space. The developer is currently in the process of finding and acquiring land for this project.
GTB is also working on a second World Trade Center in the Kanchipuram district. This proposed 500-acre site is envisioned as an industrial World Trade Center containing manufacturing and data centre zones, as well as hospitality, education, and infrastructure.
The company intends to look into a public-private partnership (PPP) model for the Kanchipuram project, which is one of the structures used for World Trade Center developments globally.