Sustainable infrastructure development in Chennai region
A JLL-CII report with insights on achieving USD 1 trillion economy
- Paramita Patra
- Daphne Cynthia
- Vanshika Gupta
The report focuses on regional development of Chennai region (consisting of nine districts Chengalpattu, Cuddalore, Kanchipuram, Ranipet, Tirupattur, Thiruvannamalai, Villupuram and Vellore). It emphasizes on cohesive approach for regional planning and development, development strategy of physical and social infrastructure in sustainable manner, unlocking potential land parcels for future developments, creation of employment nodes to propel local economy in the Chennai region towards achieving USD 1 trillion economy.
Key insights from the report:
- Connectivity and mobility: Its significance in regional planning, future of mobility in changing world
- Physical and social infrastructure: Creating opportunities for investment towards achieving sustainable goals
- Affordable housing: Current scenario, challenges, and private participation
- Regional development roadmap: Chennai region
Locational advantage has always been Tamil Nadu’s biggest USP for its growth in diversified sectors. As capital, Chennai and its neighbouring regions such as Tiruvallur, Chengalpattu and Kancheepuram receive maximum investments within the state across diversified sectors such as automotive manufacturing, IT and electronics, aerospace and defense, textiles, pharma and general manufacturing.
At present, Tamil Nadu’s economy stands at USD 290-300 billion approximately and the state must grow at ~14% CAGR to achieve its vision to become a USD 1 trillion economy by 2030. Chennai’s contribution to the state’s economy is approximately 40%. The current global conflicts and various positives of our country would keep the state in good health. In the last nine months of 2021- 22 fiscal year, the state has witnessed highest rate of growth in investments as per the sources. Hence, the government of Tamil Nadu is proactively investing on infrastructures to make the city one of the best investment destinations in the global platform.