Trivandrum: Taurus Investment Holdings, the developers of Taurus Downtown Technopark, the mixed-use, IT office and social infrastructure project planned in Technopark Phase III here, has decided to scale up the project to a total built-up area of five million square feet facility after marketing initiatives generated excellent response from potential IT / BPM and retail tenants.
Ajay Prasad, MD, Taurus India said, “Coming up in 19.73 acres of land, the Taurus Downtown Technopark Project has been designed to create truly world-class business infrastructure spread over 50 lakh sq. ft. of built-up area with the highest achievable floor area ratio, and in compliance with all the rules and regulations that apply to the project. The excellent response that we have received from multinational and domestic tenants, both office and retail, has encouraged us to significantly scale up the project, with nearly 40% more area than originally envisaged”.
Project design and other key aspects of preparatory work are in the final stages, and the project is now awaiting the signing of the land lease agreement between Taurus and Technopark authorities. Preliminary development work on the project is expected to begin by March 2016. The first phase of the Rs. 1,500 crores project is expected to be commissioned by 2018.
According to the revised plan with 50 lakh sq. ft., 26 lakh sq. ft. will come up within the IT SEZ, and 24 lakh sq. ft. of office space and world class social infrastructure in the non-SEZ area. In the first phase, three office blocks with a total built-up area of 19 lakh sq. ft. and 15 lakh sq. ft. of IT support facilities, including a retail mall and a 150 key hotel, will be built. The second phase will see 11 lakh sq. ft. office and a second hotel.
“The Downtown Technopark Project will boost Kerala’s IT infrastructure in a big way. It will feature Kerala’s single largest IT building with over 25 lakh sq. ft. of built-up area across two phases. The office component of the project will be branded as Taurus World Technology Centre, Trivandrum”, he added.
Taurus originally proposed the project during the Emerging Kerala summit held in 2012.
Kerala Biz News