Work begins at KGISL Tech Park
THE TEXCITY Coimbatore has been attracting scores of realtors from near and far. One of the upcoming projects that will contribute to the changing landscape of this location is India Land KGISL Tech Park. Work has began on the Rs 300-crore project at the SEZ at Saravanampatti. Of the total 1.9 million sqft built up space, it will release 1.2 million sqft for commercial use. The project is a joint venture between India Land and Properties and KG Information Systems (KGISL).The location has already attracted IT & ITeS players like Cognizant, Perot Systems and Spheris and also M. Spainbased Americorp, holding company of India Land group, along with its partner, will develop the sprawling facility as part of the 100-acre KG special economic zone. The hi-tech plug-andplay park, which will conform to the US green building council norms, seeks to position itself as a landmark project. The multi-user project has invited attention from several biggies in the IT sector. The funds for the project has been raised in 2:1 debt-equity pattern, sources said.
The entire project is expected to be completed by March next year. The first tower, with four lakh sqft of space, will be ready by June this year, sources said. Two multi-nationals and an Indian company have booked three lakh sqft space in the first tower, they said, citing the prevailing per sqft rate in this area is Rs 30 to Rs 35.
