Quatre cities in Tamil Nadu accelerating as top growth markets in India: JLL India study

· CMTS (Coimbatore, Madurai, Trichy & Salem) propel forward as promising hotspots

Chennai, July 20, 2018: ‘Advantage Tamil Nadu: Conquering beyond boundaries’ a report launched by JLL, India’s largest professional services firm specializing in real estate in association with the Confederation of Real Estate Developers Associations of India (CREDAI), Tamil Nadu at the latter’s annual state conference – Tamil Nadu StateCon 2018, analyses the economic future of the state and assesses the role played by CMTS*. CMTS* are top cities in Tamil Nadu fuelling the next phase of growth, according to the study on growth of emerging cities in India.

Tamil Nadu, one of the largest economies has a well-balanced regional growth with contributions coming from the smaller cities especially CMTS*. The drivers for the CMTS* includes planned infrastructure, connectivity with major hubs like Chennai and Bengaluru and adequate human capital. Backed by business-friendly policies, along with existing templates for accelerated growth, CMTS* is poised to emerge as a powerhouse in India. Economic and employment growth will in turn create demand for housing and other allied support sectors.

The proposed developments will play a key role in the future of these cities.

Coimbatore:

· CODISSIA Industrial parks

· Upcoming IT developments

· Defence Corridor

· Electronic Manufacturing cluster

Madurai:

· AIIMS

· Madurai-Tuticorin Industrial corridor

· Upcoming IT developments.

Trichy:

· 1,000 Acres SIPCOT Industrial Estate near Manapparai

· Food processing parks

· Defence Corridor

Salem:

· Defence Corridor

· Aerospace Park

· Chennai-Salem Expressway

· Proposed IT developments

Ramesh Nair, CEO & Country Head, JLL India said, “Tamil Nadu, unlike many other states of India has been fundamentally strong in manufacturing as well as in the services sector, a phenomenon which creates a unique economic balance for the state. While Chennai is definitely an economic powerhouse, other cities in the state like Coimbatore, Trichy, Madurai and Salem also have their own stories of progress. Apart from their conventional growth drivers (viz. Tourism, Education, Textiles respectively) these cities are being driven by infrastructure growth. New defence corridors, Smart city projects, Aerospace parks are all propelling growth in these locations and these changes are set to provide a fillip to their real estate markets.”

Speaking at the occasion of the launch of the report, Mr. Ajit Chordia, President, CREDAI, Tamil Nadu said, “StateCon is focused on creating the right environment for the real estate sector in Tamil Nadu that will act as a catalyst for the growth of the state. Real estate is a nationally significant contributor to GDP and it is no different in Tamil Nadu. This is the right juncture for us to take the next few steps in creating globally commensurate real estate in order to attract and sustain growth. As CREDAI, we also endeavour to help our fraternity align to changes that impact the sector. We envision that the establishment of RERA and GST would help us make greater contributions in the future to the growth of the state.”

The state will receive investments worth INR 45,000 Cr from various industries as follows

· Petroleum refinery projects – INR 28,800 Cr

· Tyre manufacturing plants – INR 4,000 Cr

· Other prospective investors include automobile and auto components, glass and glass fibre manufacturers, textiles etc.