Technocity Project Clears Another Hurdle

With the final settlement of the rehabilitation package for 18 more families at the proposed Technocity project area near Technopark,Thiruvananthapuram, the beleaguered Rs 600 crore integrated township project has cleared another hurdle.

The title deeds of land parcels allotted to persons who gave their land for the Technocity project were sent to them on Tuesday. However, the state IT department is yet to come up with a detailed master plan for the project, which was officially launched by former chief minister V S Achuthanandan in June, 2010. During the LDF rule, it was decided that Technopark will develop 50 acres of the total 450 acres of land earmarked for the Technocity project. The rest of the land was to be developed on  Public Private Participation (PPP) model.

“But currently, there is no clarity over the mode of setting up of the project. We hope the government to come out with specific directions on the roles and responsibilities of Technopark and Kerala State IT Infrastructure Limited in establishing the Technocity,” a senior official with the IT department told TOI.

Technocity project is planned as an integrated IT township with IT/ITES office space, commercial space, multiplexes, hotels, international schools, management schools and residential accommodation. The project is being conceived as part of the six-phase expansion plan of Technopark, the first IT park in the country.

Acquisition of land for the project was completed earlier this year at Rs 340 crore. This was funded by a consortium of banks led by the Central Bank of India. The process could not be completed due to difference of opinion cited by a number of land owners as many of them did not have legal documents to prove their ownership.So far, Tata Consultancy Services  is the only company that has got land in Technocity.

The project is being conceived as part of the six-phase expansion plan of Technopark, the first IT park in the country.

News sourced from “Times Of India” dated 21.12.2011

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One Response to Technocity Project Clears Another Hurdle

  1. Vinod says:

    Rs. 600 crore must be a typo. The Technocity is a Rs. 5000+ crore project in which TCS has already announced Rs 1,500 crore Global Learning Centre and works are about to start. Another multicrore institute, Asian School of Business (ASB), already started functioning from last year.

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