DLF to invest Rs 500 crore to develop an IT Park in Chennai

DLF will invest about Rs 500 crore to develop an IT Park in Chennai as the commercial real estate market has picked up in major cities. The country’s largest realty firm has exhausted its commercial space stock by leasing out over 32 million sq ft.

The realty major expects to earn about Rs 2,700 crore rental income in the current fiscal from its portfolio. The company has an IT SEZ in Chennai, comprising 5.7 million sq ft of area. About 4 lakh sq ft of space has been pre-leased.

DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 288 million square feet (approximately) of development potential with 45 million square feet of projects under construction.