Real estate strengthens State’s march toward a three-trillion economy
CHENNAI, Dec 11 (The CONNECT) — Tamil Nadu has emerged as a new magnet for Global Capability Centres (GCCs), with Chennai alone accounting for 10 percent of India’s total stock, a study shows
The GCCs — offshore hubs established by multinational companies to run technology, R&D, engineering, finance, and business operations — have become crucial engines powering India’s modern services economy.
Amid its push toward becoming a USD 1 trillion economy by 2030, the state is scripting an ambitious new chapter in its growth journey by leveraging a uniquely balanced equation between its strong industrial backbone and a rapidly expanding services sector, both of which continue to draw rising global and domestic investments.
This momentum is reflected in the findings of the FICCI-ANAROCK report, Real Estate & Infrastructure Driving Growth in Tamil Nadu, released at the FICCI Real Estate & Infrastructure Summit & Awards (REISA) in Chennai.
The report notes that more than 250 GCCs now operate across the state, strengthening its position as a preferred global operations base. Coimbatore, following Chennai, ranks among India’s most attractive tier-II cities for new GCC setups, signalling the widening spread of services-led growth across Tamil Nadu.
The state is also witnessing a rapid scale-up of data centre infrastructure. Chennai and the Mumbai Metropolitan Region together account for over 70 percent of India’s total data centre stock, while Coimbatore and Madurai are rising as the next wave of capacity hubs.
The state’s strong industrial ecosystem is further supported by 54 operational Special Economic Zones — the highest in the country — and nearly 30 SIPCOT industrial parks that continue to attract manufacturing and technology investments.
“Beyond industrialization, infrastructure has been pivotal in driving Tamil Nadu’s economic growth,” says Bhupesh Nagarajan, Co-chairman of the FICCI Tamil Nadu State Council and CMD of Indira Group of Companies.
He points to expanding airports, seaports, industrial corridors, logistics parks, expressways and metro networks as key enablers of connectivity and competitiveness. Projects such as the Parandur greenfield airport, Chennai Metro Phase II and major highway upgrades are expected to deepen the state’s role as a national and global economic gateway.
These developments are reshaping the state’s economic geography by opening new business corridors and linking previously remote districts to larger growth centres. The real estate landscape is evolving in tandem.
Chennai’s residential market continues to perform strongly, driven by steady end-user demand. According to ANAROCK Research, over 83,100 homes were launched and 85,200 sold between 2021 and the first nine months of 2025, signalling a well-balanced market. Mid-segment housing priced between INR 40 lakh and 80 lakh dominates new supply, reflecting the aspirations of a growing urban workforce.
Commercial office and industrial and warehousing activity also remain healthy, supported by sustained demand from technology players, GCCs and emerging enterprises. This broad-based growth pattern is now extending beyond Chennai.
“Tamil Nadu is gearing up on all fronts to contribute significantly to India’s vision of becoming a trillion-dollar economy by 2030,” says Anuj Puri, Chairman of ANAROCK Group. He notes rising investor interest in Coimbatore, Madurai, Tiruchirappalli and Salem, underscoring a more distributed model of district-level development.
The FICCI-ANAROCK report presents a holistic view of this shift, combining economic data, policy updates, sector insights and market trends. It reaffirms Tamil Nadu’s commitment to long-term, inclusive growth and captures the state’s transition into a diversified, infrastructure-driven and innovation-ready economy.
