Acquired from GSquare Group, the land was located on Pallavaram-Thoraipakkam Road, an upcoming IT corridor connected to Old Mahabalipuram Road and Grand Southern Trunk Road, the two existing major IT corridors in Chennai.
With a total development potential of 2.30 million sq feet, the land would be developed into an IT park with supporting amenities, a trademark of Ascendas-Singbridge Group's IT parks in India. The first phase will offer about 1.10 million sq feet of Grade A business space and construction would commence soon, a company release said. It would be named International Tech Park Chennai (ITPC)-Radial Road, after the flagship ITPC-Taramani.
(With inputs from agencies.)