Wednesday, April 28, 2010

ELCOT sure of leasing out entire IT Park space

ELCOT hopes to complete its 50,000 sq feet building at Navalpattu IT Park by September-October.

The building will have a capacity to accommodate 500 professionals of smaller companies to whom the space will be leased out. The smaller companies will operate from the building till they construct their own buildings, official sources said.

Though the building is scheduled for completion by November, the ELCOT has expedited the process since some start-up companies are already prepared to commence their operations, it is learnt. “Probably the entire 50,000 sq feet space will be leased out to the existing allottees,” informed sources said. Nine bigger companies that have so far been allotted land in the IT Park for constructing their own buildings are expected to start their works by June-July. As per the ELCOT norms, they will have to commence operations within two years from the date they take delivery of the land. The ELCOT is expected to make another EOI (expression of interest) notification for accommodating more such companies within a couple of months. The land will be delivered to the nine companies and the new applicants once the on-going infrastructure works are completed. Works on construction of compound wall, culverts, and six-lane road of 45 metre breadth are in full swing.

Source The Hindu