Govt set to acquire 245.89 acres for Technocity

The Kerala IT department on Monday said it had completed all the formalities for acquiring the remaining 245.89 acres for the Technocity project near Thiruvananthapuram.

Technocity, the fourth phase of Technopark, would be a complete IT city spread across 451 acres.

The land covers Pallipuram, Melthonnakkal, Andoorkonam and Veiloor villages. The government has already initiated the rehabilitation package for the oustees.

The procedures for acquiring 205.11 acres was over in June last year.

Apart from housing IT/ITeS firms, it would also have residential, commercial, hospitality, medical and educational facilities. The project is planned as a self-dependent satellite city.

“In addition to IT, other focus areas will be biotechnology, nanotechnology, high-end manufacturing and R&D. The entire project will be developed through multiple special purpose vehicles in association with leading developers. The plan is to develop Technocity as an integrated township that will create 50,000 direct jobs and 200,000 indirect,” said Ajay Kumar, principal secretary, IT.

Technocity is a fast track project and work on infrastructure development like power, water supply and internal roads would be undertaken immediately, said Mervin Alexander, CEO, Technopark.

Technopark is developing its Phase III campus on 90 acres with both special economic zone (SEZ) and non-SEZ space. It is also creating a built-up space of about 1 million sft estimated to cost Rs 230 crore. The contract has been awarded to Larson & Toubro and the building will be operational by mid 2011. Technopark has started the process of Phase III land allotment to IT/ITeS companies and IT infrastructure developers.

The park is also developing its first spoke model Technopark-Kollam in Kundara on the banks of Ashtamudi lake on about 40 acres.