GCC Commissioner G.S Sameeran had said the civic body is mulling rolling out more municipal bonds and checking the feasibility of commercial loans.
| Photo Credit: VELANKANNI RAJ B
Ahead of the State government’s Municipal Administration and Water Supply budget presentation on August 24, the Greater Chennai Corporation (GCC) has planned capital expenditure proposals worth ₹4,000 crore under the Urban Challenge Fund (UCF), according to a civic body document.
The proposals include a ₹1,313.57-crore integrated waste processing facility at Kodungaiyur, a ₹600-crore coastal cable-stayed bridge, and waterfront rejuvenation across 12 locations. Earlier, GCC Commissioner G.S Sameeran had said the civic body is mulling rolling out more municipal bonds and checking the feasibility of commercial loans.
As per the document shared by GCC, projects under the UCF follow a financing model of 25% Central assistance, 25% State or Urban Local Body share, and 50% market-based financing or Public-Private Partnerships.
Phase I comprises four projects worth ₹2,450 crore, under which a commercial loan of ₹1,590 crore will be mobilised during the 2026-27 financial year, the document said.
Apart from the Kodungaiyur facility, this phase covers a ₹140-crore compost plant at Perungudi and ₹393 crore for pedestrian-priority streets and asset development in four clusters: Tondiarpet-Washermenpet-Royapuram, T. Nagar-Teynampet, Royapettah-Triplicane, and Adyar-Besant Nagar-Thiruvanmiyur.
It also includes ₹210 crore for blue-green infrastructure across three beaches in Besant Nagar, Thiruvanmiyur, and Palavakkam, and nine lakes in Perungudi, Porur, Retteri, Adambakkam, Velachery, Kallukuttai, Subramanya, Ramanthangal, and Sathangadu.
According to GCC, Phase II projects carry an estimated outlay of ₹1,550 crore, for which detailed project reports are under preparation. A loan of ₹775 crore is to be mobilised across 2027-28 and 2028-29. Major works include the 2.3-km cable-stayed bridge between Srinivasapuram and Urur Kuppam, ₹450 crore for infrastructure upgrades in Ambattur and Guindy industrial estates, and ₹400 crore for neighbourhood development across six locations.
The second phase also includes a ₹100-crore urban data centre, alongside self-financing PPP initiatives for parking management across 25 locations, and the redevelopment of four bus terminals and four commercial complexes, the document stated.
Published – August 23, 2026 12:35 am IST
