Mumbai realty major to build Cybercity in Kochi

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Mumbai realty major to build Cybercity in Kochi

HDIL awaits Kerala government nod; construction work likely to begin in a month

Friday, September 14, 2007

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THIRUVANANTHAPURAM, INDIA: The Housing Development and Infrastructure Ltd (HDIL), the Mumbai-based realty major, will invest as much as Rs 2000 crore in a new IT park near Kochi in Kerala.

The project, to be called HDIL Cybercity will come up at Kalamassery on 70 acres of land.

HDIL top executives have made presentations to the Kerala government on the proposed project and are awaiting clearance. Company officials said that they expect to kick off work on the Cybercity in a month's time.

According to Rakesh Kumar Wadhawan, chairman, HDIL the park will have a total built up area of 7.9 million sq. ft. and the company will make its investment for the project through its subsidiary company Blue Star Realtors Pvt Ltd.

Wadhawan added that of the total 70 acres of land, as much as 5.4 million sq ft will be earmarked for big IT ventures. The remaining area would house hotels, service apartments, shopping malls, clubhouses, schools and residential apartments.

The entire project is expected to take as many as nine million man-days for completion, it is learnt.

HDIL Cybercity will generate as many as generate 65,000 new jobs, with the IT companies to provide at least 60,000 employment opportunities. The malls, schools and hotels will account for the rest," according to the HDIL chief.

The Mumbai-based realty major, a part of the Wadhawan group, is a known name in construction and development of IT parks. Among its projects include the ongoing mega projects at the Mumbai Metropolitan Region (MMR), Hyderabad, Pune.

The HDIL Cybercity is expected to add another feather to the IT-savvy city of Kochi which is already seeing boom time ahead with the Infopark and the proposed Smart City set to rewrite its infotech fortunes.

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ebenser said on 1/24/2008 3:03:15 PM:
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