Kochi: Housing Development & Infrastructure Limited (HDIL), one of the largest real estate companies in India, today launched the Cybercity at Kalamassery. State Minister for Industries & Commerce, Shri Elamaram Kareem inaugurated the commencement of project construction activities at a function held at Kalamassery SEZ.
In his speech, the Minister said Kerala was prepared to welcome development and this could be achieved only through a collective effort and not with a single political party. He also stressed the need for reaching a consensus among political parties, people and other organisations to solve the issues to bring more development and investment into the state.
The Government of Kerala has granted necessary clearances to the project which acquired a complete SEZ status from the Government of India. The promoters of the project, Blue Star Realtors Private Limited, 100% owned subsidiary of HDIL is expected to invest Rs. 2,300 crores in the project. The project will be a state-of-the-art built up space of about 10 million square feet in the 70 acres land at Kalamassery Special Economic Zone.
Rakesh Kumar Wadhawan, Chairman & Managing Director, HDIL said, “Kochi has emerged as one of the top IT / ITeS commercial real estate destinations. HDIL Cyber City will be a catalyst to Kerala’s economic growth. The project is expected to generate 60,000 new direct jobs.” Apart from these, construction of the entire project would require about nine million man days which is again a major employment opportunity for the people from Kerala.
70% of the total built up area is dedicated to IT infrastructure. The project is designed to be completed in three phases. The first phase will see a development of 2 million sq.ft. IT space and will be completed in 3 years time. 3 million sq.ft. build up space will be developed in the second phase. 2 million sq.ft. IT space, including multi-storied signature tower will be completed in the final phase. Other amenities like hospital, training school, shopping complex, multiplex, office space for IT companies and residential buildings will also be developed simultaneously in the remaining space.
HDIL is the flagship Construction and Real Estate development company of the Wadhawan Group, with market capitalisation of over 10,000 crores. The Company’s main business focuses is construction and development of IT Parks and Integrated IT city and is developing 115 million sq.ft. in Mumbai Metropolitan Region, Hyderabad, Pune & Kochi.
Transport Minister, Shri Jose Thettayil; T Balakrishnan IAS, Additional Chief Secretary (Industries), Alkesh Kumar Sharma IAS, and S Ramnath, MD, Kinfra were among those present on the occassion.
Kerala IT News