|
| Smart City stuck on land issue |
| George Joseph / Chennai/ Kochi Apr 22, 2009, 01:50 IST |
|
Smart City Kochi, a joint venture between Tecom of Dubai and the Kerala government, has announced temporary closure of its office at Kochi with immediate effect.
Chief executive officer of the project Fareed Abdulrahman on Tuesday said the office fit-out at Josh Towers and the recruitment of additional human resources were on hold till the freehold issue is resolved. However, he confirmed that the personnel who were assigned to the project were still involved in its development.
This is the latest turn in the tussle between the state government and Tecom over freehold and registration of title deed of the land assigned to the project. Tecom demands 12 per cent of the total 246 acres for the proposed project be given on a freehold basis when the title deed is registered. But, according to the original agreement, freehold of 12 per cent of land would be executed only when the master plan of the project is finalised and approved.
A top government source said the government had no idea about the Smart City office in Kochi and the closure move would not have much impact on the progress of the largest IT project in south India.
The foundation stone for the Rs 1,700 crore IT infrastructure project was laid by state chief minister VS Achuthanandan on November 16, 2007. But even after 17 months, the project is still lagging due to tussle between Tecom and the government over registration of land. The government source said they could not go back from the terms of the original agreement since this would create allegations against the LDF government.
The proposed project at Edachira near Info Park at Kakkanad is expected to create job opportunities for around 90,000 when fully operational. The government has allotted 235 acres on a 99-year lease basis, receiving Rs 99.15 crore. But the registration of the title deed is still pending and the work at the site is yet to begin.
The state government holds 16 per cent in the joint venture. The project would develop 8.8 million sft of area for IT and IT-enabled services within ten years.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
Content Guide
