DLF will invest Rs 550 crore to build a 1million sq.ft. office for Standard Chartered in Chennai.

DLF announced on March 14 an investment of nearly Rs 550 crore to build a 1 milion sq.ft. office building for Standard Chartered Global Business Services’ world’s biggest campus globally. Tamil Nadu Chief Minister M K Stalin set the basis for the ‘DLF Downtown’ office campus in Taramani, Chennai.

In October 2020, DLF will hand over 7.7 million square feet to Standard Chartered Global Business Services (GBS), with latter having the option to take the remaining space.

“For Standard Chartered GBS, we are creating just one building with two blocks. The total construction costs is estimated to be around Rs 550 crore “DLF Rental Business Managing Director Sriram Khattar stated.

DLF Cyber City Developers Ltd (DCCDL) is investing Rs 5,000 crore in the 27-acre DLF Downtown-Chennai project, which includes 6.8 million square feet of space.

DCCDL is a collaboration between DLF and GIC, Singapore’s sovereign wealth fund.

DLF is constructing 3.3 million square feet in the first phase, including a one million square foot building for Standard Chartered.

The 2.3 million square foot project is already underway and will be completed by the end of the next fiscal year, while the Standard Chartered campus will be completed by mid-2024.

Khattar stated that the company has been in the state for 17 years and operates the largest IT SEZ, ‘DLF Cybercity, Chennai,’ at Manapakkam, which spans 7.2 million square feet.

This SEZ has contributed Rs 84,000 crore in exports since its inception, and it employs roughly 70,000 professionals, he added.

“When finalised and functional, DLF will have approximately 14 million sq . ft of commercial offices in the city, world’s second market after Gurugram,” Khattar said.

He expressed confidence in the company’s investment in Tamil Nadu, which is quickly emerging as a leading global hub for IT/ITeS, manufacturing, and R&D. (research and development).

“When operational, an innovation like DLF Downtown in a location like Taramani should generate income of Rs 700-750 crore,” he said, adding that DLF Downtown Chennai will employ approximately 70,000 people.

“The programme is planned with high-end specifications and has received Platinum LEED Certification from the US Green Building Council,” says Amit Grover, Executive Director of DLF Offices.

“We envision that DLF Downtown Taramani, our largest campus globally, will define the future workforce with its people-centric design centred on hybrid work patterns, further promoting employee wellness, engagement, and efficiency with green initiatives,” said Matthew Norris, Global Head at Standard Chartered GBS.

DLF is India’s largest real estate developer. It has built 153 real estate projects totaling approximately 331 million square feet.

The group’s total development potential across residential and commercial segments is 215 million square feet.

The company has a more than 35 million square foot annuity portfolio, 33 million of which is LEED Platinum certified by the US Green Building Council.