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India Technology Parks

ETA Star to set up IT SEZ in Chennai

Business Standard

ETA Star Property Developers Ltd, a group company of Dubai-based ETA Ascon, has signed a memorandum of understanding with the Tamil Nadu government to develop an information technology SEZ and integrated township in Kanchipuram district, near Chennai, at an estimated cost of Rs 3,750 crore. ETA Star will develop the project through its arm ETA Startech City Pvt Ltd along with Tamil Nadu Industrial Development Corporation Ltd (Tidco). The project will be implemented over a period of three years to create space to the extent of 175.30 lakh sft for apartments, row houses, bungalows, shopping mall, hospitals, schools, hostels and service apartments, among others, on an area of about 350 acres, which will include an IT/ITES SEZ on a 50-acre area.

Karnataka to develop 61k acre land around Bangalore for IT Parks

The Economic Times Around 61,000 acres of land around Bangalore City could be dotted with IT companies by 2015, if things go as per the government plan. Apart from the proposed 10,000-acre Knowledge City in Bidadi, the Karnataka government is now planning to set up four more big IT parks in Nandagudi, Ramanagaram, Solur and Sathanur — taking the total acreage of land set aside for the IT/ITES industry to 60,961 acres. It is believed that the department of IT and STPI-Bangalore has a target of touching Rs 1, 00,000 crore in IT exports and employing 10 lakh people by 2010. While the Nandagudi project will cover 18,507 acres, Ramanagaram will have 4,013 acres, Solur 12,525 acres and Sathanur will have 16,232 acres. There are currently two major IT hubs in Bangalore — ITPB in Whitefield and Electronic City.

Royal palms plans to invest Rs.600 crore

Dataquest

Real estate and hotels major Royal Palms will invest around Rs 600 crore to set up an IT/ITES special economic zone (SEZ) in Mumbai that would be ready for occupation by end of next year. The company intends to develop the SEZ under two phases, with development of around 10 lakh sq ft in the first phase and similar area in the second phase, on a 26-acre land and would rent the space to 15-20 large and a host of small software firms.

Modi Buildwell to set up IT Park, 3-star hotel

Business Standard

Ahmedabad-based Himalaya Group’s real estate development division Modi Buildwell Ltd is foraying into information technology parks and integrated townships. Modi Buildwell has bought a 22-acre land for an IT park and integrated township at Koba circle near Gandhinagar. The company has also tied up with Taj Hotels Resorts and Palaces for setting up a three-star hotel ‘Ginger’ at its newly built ‘Himalaya Mall’ on Drive-In road in Ahmedabad. Modi Buildwell is already in talks with companies like Saffron Fund, Milestone and Provogue for FDI partnership. Himalaya Group, which has a turnover of Rs 100 crore, is also planning to set up at least 10 malls in Gujarat at an investment of Rs 1,500 crore. It recently signed a Rs 300 crore MoU with Gujarat for its upcoming mall in Bhavnagar. It is also coming up with 31 high-end luxurious bungalows viz. Hermitage Villa at Ambli-Bopal road.