IT’s hot property in Coimbatore
EVEN before the IT SEZ planned by the Electronics Corporation of Tamil Nadu (Elcot) could take shape, there seems to be a big rush for IT space among various corporates and developers in the city.
While city-based corporates like the Bannari Amman Group, Salzer group and KG group have come out with their plans on the IT front, many new commercial developers have also joined the bandwagon by getting formal SEZ approvals for their proposed projects. Coimbatore Hi-Tech Infrastructure is planning to develop an IT SEZ over 60.73 acres at Keeranatham village and Span Ventures has got formal approval for 10.5 acres IT/ITeS SEZ at Eachanari.
The state-owned Tamil Nadu Industrial Development Corporation (Tidco), is also planning an IT park in the city suburbs. Rakindo Developers, a 50-50 joint venture between Vishwatej Projects and Rakeen, UAE, along with Tidco has proposed to develop feeder township, residential and leisure facilities over 625 acres in the villages of Sundakamuthur, Perur Chettipalayam and Thithipalayam.
The group also plans to promote an IT park on 25 acres at Perur village at Chettipalayam in south Coimbatore district. Bannari Group plans to develop an IT SEZ over 78 acres at Kalapatty village in Coimbatore and has got formal approval for around 60 acres. The entire process is likely to be completed in the next few months. Salzer plans to develop 1 lakh sq.ft. IT park in association with a US-based consulting service provider while KG group has acquired around 160 acres near its existing campus at Saravanampatty for developing it as an ITES SEZ. I
According to sources in the property development business, by the end of 2009, approximately 10-15 million sq.ft, of new IT/ITeS space will enter the Coimbatore market.
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06-07-07
