The KLA Tencor Software India Private Limited has acquired a 12-acre-plus land parcel along the Pallavaram Thoraipakkam Radial Road for more than ₹1,020 crore, making it the single-largest land transaction recorded in the zone.

“The seller is a Hyderabad-based individual. A captive Global Capability Centre (GCC) is expected to come up on the site,” said a source who is aware of this transaction.

It is learnt that CBRE was the adviser to this transaction.

Another source who knew about this deal said that American semiconductor equipment company KLA Corporation, through its KLA India, had signed a memorandum of understanding (MoU) with the Tamil Nadu government and this site could be used for that project. Earlier this year, the company signed a deal for establishing a research and development (R&D) hub and innovation centre in Chennai with an investment of ₹3,510 crore.

The Pallavaram-Thoraipakkam Radial Road is emerging as a prominent location for GCCs.

GCC Corridor

A few days ago, Industries Minister Keerthana announced that a GCC Corridor would be created along the road. The government chose this region because it already hosts established IT infrastructure and serves as a critical north-south connector for the southern GCC cluster, with direct connectivity to Chennai International Airport via Pallavaram flyover.