CHENNAI: The Tamil Nadu Housing Board (TNHB) is positioning its new commercial complexes throughout Chennai as affordable hubs, providing space at rates of ₹88–118/sqft, which is nearly 20% cheaper than private rentals. The first occupants include agencies such as the Employee’s Provident Fund Organisation (EPFO) and GST.
TNHB has already sold its complexes in Chintamani and Anna Nagar to government bodies, including the TN Real Estate Regulatory Authority. Additionally, seven new complexes have emerged in prime areas such as Ashoka Colony in KK Nagar, Mogappair, CIT Nagar, Arumbakkam, Ashok Nagar, Peters Colony, and Besant Nagar. With metro connectivity and central access, these locations are attracting governmental agencies in search of space.
“We relocated to CIT Nagar as it was challenging for our staff to commute to Koyambedu. This site is centrally located. GST has already taken one block,” shared a TNHB official, noting that EPFO has also leased multiple floors.
The new complexes range from 7,000sqft to 18,000sqft per floor and are marketed as modern, affordable alternatives to private rentals. “Our rates are at least 20% lower compared to private players. A few floors are still available, and we are actively searching for potential tenants, including private companies,” the official added.
Meanwhile, TNHB is aiming to attract larger corporates with three upcoming projects: Peters Colony, Ashok Nagar near Udhayam Theatre, and Arumbakkam. The Ashok Nagar tower will feature 22 floors, combining residential units from the fifth floor up with commercial space on the first four floors. The Arumbakkam project (33,245sqm) is nearing completion with 11 floors and two basements, while Peters Colony will consist of 17 floors above three basements (75,299 sqm).
“To encourage private sector involvement, TNHB has issued tenders to engage consultants for feasibility studies, marketing strategies, and transaction advisory services, including bid management for the Peters Colony, Arumbakkam, and Ashok Nagar projects,” stated B. Ganesan, the managing director. TNHB chairman Poochi S. Murugan mentioned that approximately 70% of the available space has already been leased. “All our projects are well connected,” he added.
