Touted as a landmark structure that would be linked by a skybridge across Anna Salai, the three-tower project planned at a financial outlay of Rs. 486 crore.
A corrigendum to the pre-qualification tender cited administrative reasons for cancelling the bid, but housing and urban development department sources said a decision was taken by the housing board to execute the project using its funds.
Though the land parcel for the project is owned by the TNHB, construction for the hub was to be executed by Tamil Nadu Infrastructure Fund Management Corporation Limited.
“It was decided in the board of meeting of TNHB two days ago that TNHB would be executing the project instead of engaging another agency. So, the project has been put on hold for the time-being,” a housing and urban development department said.
The DMK’s trade union had also opposed the project.