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Housing Development and Infrastructure Ltd (HDIL), one of the largest real estate companies, has announced the dream project of Cyber City at Kalamassery on the 70 acres of land handed over from HMT.
Gets clearance
The State Government has granted the necessary clearances to the project which has a complete SEZ status.
The promoters of the project, Blue Star Realtors Private Ltd, 100 per cent owned subsidiary of HDIL, will invest approximately Rs 2,300 crore.
The project will be a state-of-the-art built up space of about 10 million square feet.
Announcing the commencement of Cyber City, Mr Rakesh Kumar Wadhwan, Chairman, HDIL, said Kochi has emerged as one of the top IT/ITES commercial real estate destinations.
HDIL Cyber City will be a catalyst to Kerala's economic growth.
The project is expected to generate 60,000 new direct jobs.
Apart from these, construction of the entire project is expected to require nine million man days, which is again a major employment opportunity for the people of Kerala.
The State Industries Minister, Mr Elamaram Kareem, who inaugurated the commencement of project construction activities on Thursday, said the proposed Smart City in Kochi, together with Cyber City, would create more job opportunities and change the face of Ernakulam district.
Several renowned companies have already come forward to set up units at the Cyber City.
Lease deed
Referring to Smart City, he said the Cabinet had approved the lease deed to be signed for the project.
Once the lease deed is signed, the clearance for the construction project would be given at the earliest through the single window facility.
The entire design of HDIL Cyber City project is very much concurrent with Green building concept.
Green spaces
Buildings and structures will occupy only 20 per cent and the rest 80 per cent will comprise of green spaces.
No drainage will go out the project area and all the sewage will be treated internally.
Out of the total 10 million sq ft, 7million sq ft is dedicated to IT infrastructure.
The project is designed to be completed in three phases and would include amenities such as hospital, training school, shopping complex, multiplex and office spaces for IT companies.
The residential component will also be developed simultaneously.
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