DLF Infopark project may be ready by July 2017

After remaining a non-starter for over two years since its grand launch in February, 2009, just ahead of the assembly polls in Odisha, the Rs 1000-crore Infopark project in the city by DLF, the country's biggest listed realtor, is expected to be fully commissioned by July 2017.

"DLF's Infopark project was delayed due to want of necessary clearances. For this reason, the milestones stipulated by the developer as per the lease cum development agreement could not be achieved in time. DLF has started work on the project in July 2011. The project is expected to be fully ready in 72 months from the start of construction work," industries minister Niranjan Pujari said in a written reply to the state assembly.

DLF had signed a lease cum development agreement with the state government in November 2006 for the Infopark project meant to lease out premium office space to mega IT players as well as those in the small and medium scale. The company was allotted 54 acres of land at the Infocity area on the city's outskirts that houses development centres of some of the top IT firms.

As per the lease agreement, DLF was to begin construction work on the centre by June 2009. The agreement listed three milestones - the first being developing 400,000 sq ft built-up office space within 24 months of commencement of construction work. The office space was to be subsequently ramped up to one million sq ft in 48 months and finally to 1.5 million sq ft within 72 months in the next two phases.

Initially, the project was to be developed as an SEZ (Special Economic Zone) facility. After denotification of the SEZ status for its Infopark project, DLF had announced that it would develop the project under the STPI (Software Technology Parks of India) scheme.

The DLF Infopark project which was to be developed in three phases, comprises an IT block, a luxury hotel, a retail chain, service apartments and recreational facilities with a total built-up space of about 5.5 million sq ft.

For setting up the luxury hotel, DLF had tied up with Hilton, an international hotel chain.

In the first phase, DLF had committed an investment of Rs 300 crore for developing an IT workspace of international standards with a built-up area of 570,000 sq ft.

The Infopark project was to generate direct and indirect employment opportunities for over 40,000 people in sectors like IT and ITes (IT enabled services), retail and hospitality.