India Land Ventures Ltd (ILVL), an associate company of Americorp Group of Spain along with KGISL (part of Rs 3,200-crore KG Group of Coimbatore), has announced the launch of ‘India Land KGISL Tech Park’ at the 150-acre IT SEZ at Saravanampatti in Coimbatore, Tamil Nadu.
The first phase of this project launched in Chennai on April 7, 2008 is scheduled to be ready for fitouts in July 2008 and will have state-of-the-art features in line with the globally accepted norms of construction and building maintenance.
Both the companies would be investing Rs 320 crore towards this project. While ILVL will be investing 70% of the project cost, the rest will come from KGISL.
Announcing the launch, the Managing Director of KGISL, Ashok Bakthavathsalam, said the IT tech park, coming up in Saravanampatti - about 12 km from Coimbatore airport, would have 1.8 million sq feet of space, tailor-made for the requirements of IT and ITES companies.
Built in 11.74 acres, which is parcelled out of the 150-acre IT/ITES special economic zone - Coimbatore Hi-tech Infrastructure Private Ltd (CHIL), the first block of India Land KGISL Tech Park comprising 3.4 lakh sq ft of floor space would be ready for fit out by July. The second block of similar size could be occupied from November, he said. The remaining space would be operational by June 2009, he added.
Mr. Harish Fabiani, Chairman of Americorp Group stated that the proposed project will be a landmark in Coimbatore. “Combined benefits of SEZ, Tier II City and highly efficient building will prove to be a great attraction for the top Indian IT companies towards this prestigious project,” said Mr Fabiani. He added that the IT majors are already moving to Tier 2 cities to keep the costs under control and hence projects as these would find early tenants, who also insist on an early, fit-out and hand over for occupation.
India Land - Backgrounder:
India Land is a global player in real estate investment, development and management. They engage in projects that are strategically located in the high potential growth areas, those that are witnessing rapid economic development around the country.
With interestes in IT Parks, SEZs, as well as Hotel, Retail and Entertainment, India Land have the following projects in their portfolio.
IT Park, Ambattur, Chennai
IT SEZ, Padalam, Chennai
IT SEZ, Saravanampatti, Coimbatore
IT SEZ, Hinjewadi, Pune
Hotel, retail and commercial, Devanahalli, Bangalore
Hotel, retail and entertainment at Hinjewadi, Pune
The first phase of this project launched in Chennai on April 7, 2008 is scheduled to be ready for fitouts in July 2008 and will have state-of-the-art features in line with the globally accepted norms of construction and building maintenance.
Both the companies would be investing Rs 320 crore towards this project. While ILVL will be investing 70% of the project cost, the rest will come from KGISL.
Announcing the launch, the Managing Director of KGISL, Ashok Bakthavathsalam, said the IT tech park, coming up in Saravanampatti - about 12 km from Coimbatore airport, would have 1.8 million sq feet of space, tailor-made for the requirements of IT and ITES companies.
Built in 11.74 acres, which is parcelled out of the 150-acre IT/ITES special economic zone - Coimbatore Hi-tech Infrastructure Private Ltd (CHIL), the first block of India Land KGISL Tech Park comprising 3.4 lakh sq ft of floor space would be ready for fit out by July. The second block of similar size could be occupied from November, he said. The remaining space would be operational by June 2009, he added.
Mr. Harish Fabiani, Chairman of Americorp Group stated that the proposed project will be a landmark in Coimbatore. “Combined benefits of SEZ, Tier II City and highly efficient building will prove to be a great attraction for the top Indian IT companies towards this prestigious project,” said Mr Fabiani. He added that the IT majors are already moving to Tier 2 cities to keep the costs under control and hence projects as these would find early tenants, who also insist on an early, fit-out and hand over for occupation.
India Land - Backgrounder:
India Land is a global player in real estate investment, development and management. They engage in projects that are strategically located in the high potential growth areas, those that are witnessing rapid economic development around the country.
With interestes in IT Parks, SEZs, as well as Hotel, Retail and Entertainment, India Land have the following projects in their portfolio.
IT Park, Ambattur, Chennai
IT SEZ, Padalam, Chennai
IT SEZ, Saravanampatti, Coimbatore
IT SEZ, Hinjewadi, Pune
Hotel, retail and commercial, Devanahalli, Bangalore
Hotel, retail and entertainment at Hinjewadi, Pune
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