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Tamil Nadu Housing Board to construct mall in Ashok Nagar
The Times of India  |  July 22, 2019

Yogesh Kabirdoss Chennai

Cashing in on the trend of swanky commercial spaces, the Tamil Nadu Housing Board (TNHB) plans to construct a mall in a residential tower in Ashok Nagar. This is the first time a state-owned board is foraying into mall space.


An artist’s impression of the multi-storey building coming up near the Ashok Pillar was published in the policy note of the housing and urban development department and unveiled in the legislative assembly on Saturday.


The 22-storey structure, which appears to be in the shape of a wine glass, would be constructed on the tri-junction plot at Ashok Pillar.


According to a source at the TNHB, it would be a first-of-its-kind initiative for the board that has been traditionally engaged in building shops on commercial spaces. “The final design was chosen among 10 designs presented by a private architect. While the ground and top three floors will constitute a mall, the remaining floors will have 3BHK luxury apartment units,” a TNHB official told TOI. Both the commercial and residential space are for sale. As many as 268 apartment units will come up.


Nearly one-lakh square feet of space in the building will be earmarked for the mall with each floor of 24,000 square feet size. The size of every apartment unit will be 1,700 square feet and Rs 227.26 crores has been earmarked for the construction of the entire structure on a 2.13-acre land.


The TNHB source said the structure will be of 70-metre height. “We have already applied for planning permission with the Chennai Metropolitan Development Authority. Construction is expected to be completed within three years,” the official added.


Meanwhile, the government has proposed to create a ‘commerce hub’ in the heart of the city at Nandanam, where the TNHB headquarters is located. As per the policy note, the hub is an infrastructure project proposed on the lines of Tidel Park to attract multi-national companies to invest in Tamil Nadu and develop Chennai into an international finance centre. The proposed hub will be used to invite financial institutions, banks, trading and brokering houses to set up their operations.


Located on Anna Salai, the facility will come up on a 12.31-acre land. Of this, one-million square feet would be utilised for office space. As per the policy note, the total cost of the project is estimated to be Rs 550 crore.


The policy note also added that the project would create a long-term revenue generating asset to implement housing schemes.