Fintech Tower Set for Launch as Chennai’s Fintech City Enters a New Phase of Growth

Chennai’s vision to position itself as a leading hub for Banking, Financial Services and Fintech innovation has taken a major step forward with the announcement that the Fintech Tower in Nandambakkam will be inaugurated within the next two months. State Industries Minister TRB Rajaa confirmed the development during the foundation stone ceremony of The Cube, another key project within the larger Fintech City master plan.

Developed at a cost of ₹254 crore, the Fintech Tower spans approximately 5.6 lakh sq ft and is designed as a multi-tenant commercial space equipped with modern amenities, including a 250-seater auditorium. The tower will act as the nucleus of the 56-acre Fintech City, which is being spearheaded by the Tamil Nadu Industrial Development Corporation (TIDCO). The larger project is envisioned as an integrated ecosystem combining commercial spaces, residential zones and hospitality infrastructure, aimed at attracting the most dynamic players in the BFSI and fintech sectors.

TIDCO Managing Director Sandeep Nanduri confirmed that other parcels within Fintech City have already been allotted to prominent companies such as Bagmane, Equitas Bank and Muthoot Fincorp, each receiving 1.5 acres. This early traction reflects rising investor confidence in Chennai’s emerging fintech landscape.

The event also highlighted the formal beginning of The Cube, a Grade-A office development being executed jointly by Axis Commercial Real Estate Fund and global real estate major Tishman Speyer. The project, valued at around ₹280 crore, will rise on a 1.56-acre plot acquired for nearly ₹76 crore. Once completed, The Cube will offer roughly 400,000 sq ft of premium office space across 10 floors.

Axis AMC MD and CEO B Gopkumar stated that the project is expected to deliver returns of 20 to 22 percent and has already attracted significant market interest. Tishman Speyer’s India Head Parvesh Sharma added that Chennai is fast emerging as one of the country’s most dynamic commercial markets, with Fintech City representing the next frontier in its growth story.