Chennai developers and Port City Colombo discuss investment opportunities
CREDAI Chennai hosted an interaction with representatives of Port City Colombo to present the Sri Lankan development’s planning model and potential business opportunities. Officials also discussed Chennai’s urban expansion and an AI-enabled planning approval system being developed by the metropolitan authority.
The Confederation of Real Estate Developers Associations of India, Chennai, has hosted an interaction between its members and representatives of Port City Colombo. The meeting was intended to introduce the Colombo development to Chennai’s real estate sector and provide members with information about its planning framework, development model and possible opportunities for developers and allied professionals. A.R.
Rahul Nadh, member secretary of the Chennai Metropolitan Development Authority, said Chennai was growing in scale, infrastructure, investment and urban development. He said planning and regulatory systems needed to develop alongside the city. Nadh said the CMDA was undergoing a major transformation.
This included SPEED, described as an AI-enabled online planning approval system designed to create an integrated digital ecosystem. The system is intended to connect the CMDA, the Directorate of Town and Country Planning, urban and rural local bodies, and departments that issue no-objection certificates, according to the supplied material. Mehul H.
Doshi, president of CREDAI Chennai, said the organisation wanted to showcase Port City Colombo to its members and government officials. He said the project’s master plan could offer a model as Tamil Nadu considers establishing an AI city. Thulci Aluwihare, deputy managing director of CHEC Port City Colombo, said Chennai was a natural starting point for the discussion because of its proximity to Colombo and its strong real estate ecosystem.
The source did not report any investment agreement resulting from the interaction.
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