FinTech Tower inauguration in Chennai advances Tamil Nadu FinTech City plans

Tamil Nadu Chief Minister M K Stalin inaugurated the INR 249 crore FinTech Tower at Nandambakkam, Chennai, the first major delivery under the planned 56-acre FinTech City. The 5.56 lakh-square-foot building is designed to attract FinTech firms and support high-skill jobs. Office space allotments were also issued to three companies.

Tamil Nadu Chief Minister M K Stalin inaugurated the Rs 249 crore FinTech Tower in Nandambakkam on Monday. The new building is part of the state’s planned 56-acre FinTech City project in Chennai. Officials said the project is meant to position Tamil Nadu as a global hub for financial services and technology.

Spread across 5.56 lakh square feet, the FinTech Tower is the first major asset delivered under the wider FinTech City plan. The building has two basements, a ground floor and 11 storeys. The foundation stone for the project was laid in June 2023, as per official details.

FinTech Tower and FinTech City plan in Chennai

The FinTech Tower is the first phase of FinTech City in Chennai. The state expects the project to create high-skill jobs. It is also aimed at attracting FinTech firms that want to expand beyond established centres such as Bengaluru and Mumbai.

After the inauguration, M K Stalin issued allotment orders for office space to Prime Forex Pvt Ltd, Simptra Technologies Pvt Ltd, and MidFin Wealth Pvt Ltd. The move was presented as the start of occupancy in the tower. Officials linked the allotments to early activity in the FinTech City development.

FinTech Tower event and TNUHDB housing updates

In a post on X, Stalin also referred to housing work carried out through the Tamil Nadu Urban Habitat Development Board. "Also, on behalf of TNUHDB, I have issued house allotment orders for 5,367 beneficiaries in a single day and laid the foundation stone for another 1,984 apartments, the chief minister said in a post on the social media platform X.\"

Stalin added that housing support expanded over recent years under the state government. \"In addition, I am proud to announce that in the last 5 years of Dravidian model rule, we have provided 74,126 apartments through 209 projects for the poor, ensuring a dignified life with a safe home of their own, he said.\" The comments linked the FinTech event with wider government programmes.

With inputs from PTI