DLF to spend 40% of yearly capex on commercial projects in Chennai

Real estate developer DLF plans to spend about 40% of its annual capex to complete its current commercial projects in Chennai, the company's second-largest market outside Delhi-NCR.

The company invests between Rs 12 and Rs 15 billion in the development of commercial assets in its current markets.

The company plans to invest rs 11 billion for the first phase of construction in Chennai; of this, about Rs 7 billion has already been made. In Chennai, DLF is currently building its second largest project at a cost of nearly Rs 50 billion.

DLF Downtown, a 6.8 million square foot office building, is scheduled to be completed between 2026 and 2027.

DLF Downtown in Taramani's Phase 1 is currently nearing completion and will bring in additional money.

DCCDL, the rental arm of India's largest real estate company DLF, today announced the completion of 15 years of its commercial operations in Chennai.

The company estimates that in the next four years, commercial real estate in Chennai will account for about 25% of rental income. Retail and commercial real estate owned by DLF Cyber City Developers (DCCDL) and the DLF portfolio produce rental income for DLF. In Manapakkam, Chennai, DCCDL already has an IT SEZ of 7.4 million square meters that generates about Rs 6 billion in rental income every year.