Axis Commercial Real Estate Fund, a strategic parnerhip between Axis Asset Management and global real estate developer Tishman Speyer, has secured a 1.5-acre plot in Chennai’s Fintech City. The acquisition, completed via a bid cum e-auction process organised by Tamil Nadu Industrial Development Corporation (TIDCO), is valued at ₹50 per acre.
Located in Nandambakkam, the plot is part of a broader vision by the Tamil Nadu government to develop a Fintech City, aiming to attract ₹12,000 crore in investments and generate 80,000 jobs.
“The acquired 1.5-acre plot in Chennai will be transformed into a sustainable, around 4 lakh square foot Grade A office building within the next three years, approximately. Tishman Speyer is the exclusive development manager and will manage design, development, leasing and property management,” a release said.
Axis Commercial Real Estate Fund, a category II alternative investment fund with a corpus of around ₹550 crore, focuses on early-stage commercial real estate projects. Partnering with global developer Tishman Speyer, the fund targets high-quality office spaces in eight key markets to attract top-tier tenants.