ICICI Venture and Tishman Speyer's 50:50 JV, TSI Ventures, procured an 113-acre land parcel in Chennai for development of a 4.90 million square feet residential township. The proposed site lies off the National Highway 4 (Chennai - Bangalore Highway) on the way to Sriperumbudur Industrial Cluster close to the Hyundai car manufacturing unit. The site has good accessibility and connectivity and is expected to be the next growth corridor in Chennai, with firm demand from IT/ITES as well as manufacturing sectors.