Chartered accountants body Institute of Chartered Accountants of India (ICAI) on Saturday said has decided to set a 'Centre of Excellence' in the city dedicated to the accounting and financial profession.

"We have decided to have a centre of excellence here similar to proposed centres in Bangalore and Jaipur where we have already been alloted land," ICAI President Ved Jain said.

"Initially, we will undertake three months residential course on professional and soft skill development for students and later the campus will have additional activities," he said.

Jain said the institute would require 15-20 acres and a final proposal would be submitted to the state government any time.

Each campus would cost around Rs 10 crore, Jain said.

The institute has begun the course from April in rented premises at Faridabad.

About the programme, Jain said it has been designed to equip chartered accountants handle the intricacies of the corporate world and was on the lines of orientation that IAS probationers underwent.

Jain said the Bangalore and Jaipur campuses were likely to come up in the next one year.