Axis Commercial Real Estate Fund Makes Maiden Investment in Chennai's Fintech City
The fund targets high-quality office spaces in eight key markets to attract top-tier tenants, partnering with global developer Tishman Speyer.
Axis Commercial Real Estate FundTishman SpeyerChennai Fintech CityCommercial Real EstateOffice SpacesReal EstateAug 13, 2024
The acquired plot is part of a broader vision by the Tamil Nadu government to develop a Fintech City, aiming to attract ₹12,000 crore in investments and generate 80,000 jobs. The plot will be transformed into a sustainable, around 4 lakh square foot Grade A office building within the next three years, approximately.
Tishman Speyer will serve as the exclusive development manager, handling design, development, leasing, and property management for the project. This investment marks the first foray of Axis Commercial Real Estate Fund into the Chennai market.
Axis Commercial Real Estate Fund is a category II alternative investment fund with a corpus of around ₹550 crore. The fund focuses on early-stage commercial real estate projects, targeting high-quality office spaces in eight key markets to attract top-tier tenants.
The partnership between Axis Asset Management and Tishman Speyer brings together the expertise of two leading players in the real estate industry. Tishman Speyer is a global real estate developer with a presence in 28 cities worldwide, while Axis Asset Management is one of the leading asset management companies in India.
The investment in Chennai's Fintech City is a testament to the growing demand for high-quality office spaces in India's key markets. With its strategic location and world-class infrastructure, Fintech City is poised to become a hub for financial and technology companies in the region.
Information
Axis Asset Management is one of the leading asset management companies in India, with a presence in 32 cities across the country. The company offers a range of investment products and services to institutional and individual investors.
Tishman Speyer is a global real estate developer with a presence in 28 cities worldwide. The company has developed over 125 million square feet of office space globally, with a focus on sustainable and high-quality projects.
Axis Commercial Real Estate Fund is a strategic partnership between Axis Asset Management and Tishman Speyer, focusing on early-stage commercial real estate projects in India.
Frequently Asked Questions
What is Lokshahi Din?
Lokshahi Din is an initiative by MHADA to provide a platform for citizens to voice their grievances and receive immediate attention from the authorities.
How many applications were reviewed during the fifth Lokshahi Din?
Nine applications were reviewed during the fifth Lokshahi Din.
What was the issue faced by Surekha Kale?
Surekha Kale had purchased a MHADA flat in 2007 but had not paid the full sale price, resulting in a late fee of Rs 7.5 lakh.
What was the issue faced by Hiren Mehta?
Hiren Mehta was charged maintenance fees dating back to 2014, despite taking possession of the flat in 2023.
What is the purpose of MHADA's citizen-friendly policies?
The purpose of MHADA's citizen-friendly policies is to prioritize the convenience and welfare of the public.
Tags:
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora