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Old Posted Jan 12, 2010, 4:32 PM
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Technopark phase 3: Land booking starts on January 18

Thiruvananthapuram : As par of the development of Technopark phase III, the park authorities have decided to set apart 22 acres of land for the development of private parks by IT and ITeS companies. Booking for the land will begin on January 18. A total of 92 acres has been earmarked for the phase III development of the park.

For the first time, Technopark is giving an opportunity to the IT and ITeS companies to book land in advance. Companies interested to own land for setting up their facility centre can register their names with the park from January 18 to February 17. Interested companies will have to make an advance payment for the land and should specify their current turn over and the number of job opportunities they would generate by setting up facility centres in the said land. A total of 92 acres has been earmarked for the phase III development of the park. Of this 70 acres of land will be developed by Technopark in association with Kerala State IT Infrastructure Ltd.

According to sources, the companies interested to book the land will have to pay Rs 1 lakh per acre. The park authorities will screen the requests and select the companies that are most eligible for the proposed land. The piece of land earmarked for the third phase is situated between the places where the first and second phase development of the park has taken place.

As per the conditions, the companies that get the land should commence the work on infrastructure development in a six month time. They will have to complete the facility centers in a maximum period of three years.

The Phase III is being developed as a Special Economic Zone. Technopark will provide all the utilities and support services, including power, water supply and connecting roads. The expansion work is expected to be completed in 2012. It would create 4 million sft space and around 40,000 jobs. On completion of the third phase, the Thiruvananthapuram Technopark will be among the leading technology hubs in the world with a built-up space of 10 million sft and a 100,000 workforce.
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