Kochi: The Board of Approval under the Commerce Ministry, Government of India granted Special Economic Zone (SEZ) status to the HDIL Cyber City at Kalamassery in Kochi on February 11, 2010.
The Cyber City project is being taken up by Housing Development and Infrastructure Limited (HDIL) on 70 acres purchased from HMT by Blue Star Realtors Pvt. Ltd., a subsidiary of HDIL. HDIL plans to build a world class IT Hub in Kerala which would provide 60,000 direct jobs on completion. The Cyber City is planned to be an integrated township with residential apartments, schools, shopping malls, service apartments and infrastructure facilities for IT and ITeS companies.
The project will have to follow the government directive that only 30% of the land would be used for support infrastructure. 70% of the area would be used for the IT and ITeS operations. The notification of the SEZ area is expected within a month and necessary approvals have to be sought before any construction begins on the project. The project is expected to be complete in eight years.
Though the project came up in 2008, time was lost in unwanted litigation over the sale of the land by HMT.
Kerala IT News