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DLF has announced an investment of around Rs 550 crore to construct a one-million-square-feet office building for Standard Chartered Global Business Services’ largest campus globally. The office campus will be built in ‘DLF Downtown’ project at Taramani in Chennai.
DLF has signed an agreement with Standard Chartered Global Business Services (GBS) for the construction of a one-million-square-feet office block in Mumbai. In October 2020, DLF had pre-leased 7.7 lakh square feet office space to GBS and has an option to take the remaining area. The total construction cost is estimated at around Rs 550 crore.
The first phase of the DLF Downtown-Chennai project, spread over 27 acres and comprising 6.8 million square feet area, is being developed by DLF Cyber City Developers (DCCDL) with an investment of Rs 5,000 crore. DCCDL is a joint venture between DLF and Singapore sovereign wealth fund GIC. The construction of 2.3 million sq ft is already undergoing and will be completed by the end of next year.
DLF’s Chennai office has contributed a cumulative export revenue of about Rs 84,000 crore since its inception and around 70,000 professionals are working, Khattar said. Once DLF Downtown is completed and operational, DLF will have a footprint of about 14 million square feet of commercial workspaces in the city, making it the second-largest market after Gurugram.
The project is designed with high-end specifications and has been awarded a Platinum LEED Certification by US Green Building Council, DLF Offices Executive Director Amit Grover said. A development like DLF Downtown in a location like Taramani should generate the income of Rs 700-750 crore when fully functional, he said. Around 70,000 employees will work from DLF downtown Chennai, he added.
DLF is India’s leading real estate developer. It has developed around 153 real estate projects and developed an area of about 331 million square feet. The group has 215 million sq ft of development potential across residential and commercial segments. Of this, 33 million sq feet is LEED Platinum certified by the US Green Building Council.
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