Thiruvananthapuram: With major IT firms set to join Technopark, many are curious to know about the status of the most anticipated Taurus
Technopark Downtown project.
Inching closer to the realization of the project, Winterfell Realty Private Limited, a joint venture of Taurus Investment Holdings and Embassy Group, has got co-developer status for construction of office space in special economic zone (SEZ) at Technopark.
With SEZ India according co-developer status to Winterfell, what remains now is issuance of building permit from the corporation so that Taurus can start construction. Sources said that Taurus was planning to start construction within two or three months. Already test piling has begun at the campus. The first phase will see development of the SEZ office project which involves construction of 2.5 million square feet office space in phase III campus.
With several new firms coming up in Technopark, there is a growing demand for office space within the campus.
Technopark has a tough time arranging space for new IT firms. For example, automobile giant Nissan was in urgent need of around 1,20,000 square feet space in Technopark to start its operations. Since the space was not readily available with Technpark on time, Technopark agreed to facilitate a furnished space from its co-developers. It also agreed to reimburse up to Rs 40 per square feet for the hired space.
The Technopark Downtown project will come up in 12.12 acres in phase III campus. The lease agreement for this land was signed in March this year. Taurus Downtown Technopark has a projected total investment of Rs 2,000 crore.
