Wednesday, July 24, 2024

Tamil Nadu Knowledge City Opens New Vistas for Real Estate Investors

The Tamil Nadu Government’s plan to establish a 1703-acre knowledge city in Tiruvallur District has excited real estate investors. This ambitious project, touted as one of the largest and the most expansive knowledge hubs in India, is poised to transform the landscape of the entire district, turning it into an attractive destination for investments in lands and properties.

Multiplier effect of knowledge

The Tamil Nadu Knowledge City (TKC) will come up in Uthukottai taluk and Vengal village, in Tiruvallur District. It will house branches of global universities with research and development centres, skill training centres, and knowledge industries from diversified sectors. It will also promote sustainable social living.

TKC is expected to benefit around one lakh people in terms of providing them with direct and indirect employment opportunities. Tamil Nadu Industrial Development Corporation Limited (TIDCO), the nodal agency for the project, is in the process of selecting consultants to prepare the techno-economic feasibility report.

Locational highlights

The state had earlier proposed Periyapalayam, another village in the same district, as the destination for the knowledge city. However, there were several parameters that tilted the project in favour of the present location. Those parameters include elevation, slope, groundwater potential, population density, social dimension, proximity to an educational facility, proximity to a healthcare facility, road connectivity, rail connectivity, presence of ecologically sensitive zones, flood susceptibility and the percentage of unbuilt land available.

Opportune moments for investment

The establishment of TKC is all set to contribute to the overall growth and prosperity of the region, creating a transformative impact on various aspects of the local economy, employment landscape, and social living.

There will be a positive impact especially on the real estate market as the influx of professionals and knowledge workers to TKC can drive the development of residential and recreational spaces.

The demand for office spaces and commercial real estate around the knowledge city is expected to grow multi fold, to provide the infrastructure for support services such as healthcare, hospitality, transportation, and security. The land parcels are being identified and construction activities are getting developed around TKC. Any investment in real estate at this opportune moment, be it in plots, houses or commercial and industrial buildings, can pave the way for unprecedented returns in the near future.

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