A Rs 4,000-crore cyber-city project for the IT/ITES sector is being developed by Housing Development and Infrastructure Ltd (HDIL) at Kalamassery, near Kochi, which will be Kerala’s first integrated IT township.
HDIL is one of the largest real estate development companies in the country. The cyber city, spread over 70 acres of land acquired from the public-sector Hindustan Machine Tools (HMT), in addition to IT/ITES nodes will have residential apartments, villas, schools, shopping malls, a multiplex, a clubhouse, service apartments and a star hotel, said Rakesh Kumar Wadhawan, chairman, HDIL.
This is HDIL’s fourth such project in India. The project’s foundation stone will be laid by Chief Minister VS Achuthanandan on January 19. It is expected that the cyber city will provide 60,000 direct and 150,000 indirect job opportunities at Kochi. The project is scheduled to be completed over a four-year period.
The HDIL cyber city will have a built-up area of 8,000,000 square feet and is the company’s first flagship IT project in Kerala. It is estimated that the project will generate revenue of Rs 425 core to the state government by way of stamp and registration duty, and employee welfare and village tax. The company attributes lower cost of IT space, a huge pool of talent, and qualified manpower for its preference of Kochi to the premier IT hubs of Bengaluru and Hyderabad.
– Bengaluru Bureau