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The Office Space Boom

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Wednesday, June 27, 2007

The Drive for Investments
You could have huge tech parks and SEZs shaping up across the country. You could have loads of money being pumped in to set up the infrastructure. And you could even have the people to work in them. But the need is now for huge investments-investments that will create the environment required for a viable social setup. The SEZ Act allows for 100% FDI in SEZs. You also need companies to come and set up their centers in the country. All this cannot happen without loads of effort going into it. According to Magazine, "There has to be a huge effort on the marketing side. You need the setup, you need the infrastructure, the manpower, and all of them have to be put together in an irresistible package, for the investors to come in."

L&T Tech Park, Kochi

The first IT park by L&T Tech Park, a subsidiary of L&T Urban Infrastructure, is coming up in the picturesque campus of Infopark Kochi. It is a 51:49 joint venture project between L&T Urban Infrastructure Ltd and Pragnya Fund 1(investment partner), a Mauritius-based private equity fund.

The Government of Kerala has declared L&T Tech Park as a Special Economic Zone (SEZ). L&T Tech Park will be located 25 km from the Cochin International Airport, 13 km from Kochi International Seaport, 12 km from the railway station, and 12 km from the heart of the city. The project will be executed in two phases. Phase I is Tejomaya, 4 lakh sq ft (to be commissioned in September 2007); Phase II is Swapnalaya, the construction of the 21-storied Signature Tower with a total built-up area of around 4.50 lakh sq ft, which will begin in 2008. IT majors including TCS and L&T Infotech have already taken space in Tejomaya.

Tejomaya will have an area of approximately 40,000 sq ft per floor and Swapnalaya will have 16,000 sq ft, complete with heating, ventilation and air-conditioning, backup power and other state-of-the-art facilities. Both the buildings will have all the modern lifestyle amenities such as a 350-seater cafeteria, entertainment kiosks, indoor games hall, health club, conferencing facilities, banking facilities, business centers, and convenience stores, which will make work a joyful experience for everyone.

Total land area: 7 acres

Built-up area: 1 mn sq ft

Multi-level car park: 450 cars with a parking ratio of 1:1100

BPTP Park Centra, Gurgaon

Park Centra is being developed by Business Park Town Planners (BPTP) Group. It will be situated on NH-8, in the heart of Gurgaon.

Park Centra will be built on a total land area of 5.1 acres and a built-up 1.1 mn sq ft, of which 0.63 mn sq ft will be saleable area. The Park will be designed keeping in mind the specific requirements of the growing IT and ITeS organizations. It would be a self-sufficient complex with broadband connectivity, advanced security system with complete access control, open area, banks, ATMs, restaurants, 24-hour café, WiFi connectivity, and so on.

Total land area: 5.1 acres

Built-up area: 1.1 mn sq ft, 3 basements + ground + 11 floors

Multi-level car park: 0.63 mn sq ft

Mahindra Technology Park, Jaipur

Mahindra Technology Park is a joint venture between Mahindra Gesco Developers and Rajasthan State Industrial Development and Investment Corporation (RIICO). It is located within Mahindra World City, which is just 16 km from the airport and 20 km from the railway station. It is located within a notified SEZ.

The first 200,000 sq ft area will be ready for internal fit outs by June 2008, with complete amenities. The common facilities include 100% power backup, large food court, ATM centers, common services center, basement parking, society clubs, health clubs and gymnasiums, entertainment zones and plazas, jogging tracks, serene green surroundings with wellness parks, etc. Top IT/ITeS companies such as Infosys and Wipro have signed up to for office spaces in Mahindra Technology Park.

Total land area: 25 acres

Built-up area: 1.5 mn sq ft

Brigade Tech Park, Bangalore

Brigade Tech Park has been built by Brigade Enterprises, in accordance to international standards, using post-tension construction technology. The Tech Park has two blocks: Block A has 142,000 sq ft and Block B has 302,400 sq ft. The Park is strategically located next to ITPL (Information Technology Park) and the export processing zone, considered as the IT hub of Bangalore. It is located at a distance of 18 km from MG Road and 10 km from the airport.

The basic facilities of the Tech Park include a large floor area to suit specific requirements. Floor plates range from 13,000 to 24,000 sq ft (1,200 to 2,250 sq m) and 32,000 to 50,500 sq ft (3,000 to 4,700 sq m), flat-slab construction and efficient column grid span of 10.5 m x 11.5 m to facilitate better interiors and utilization of floor area. Other features include 100% generator backup, and ample multi-level parking for cars and two-wheelers. The Tech Park also has other modern lifestyle and recreation facilities such as swimming pool, cafeteria, coffee shop, gym, ATMs, etc.

Built-up area: Over 440,000 sq ft (40,000 sq m)

Olympia Tech Park, Chennai

Khivraj Tech Park is developing Olympia Tech Park, which is located in Guindy. The Park is located just 4.5 km from the airport. The IT Park comprises three towers-Citius, Altius, and Fortius.

Olympia Tech Park is compatible with all the needs of an IT company. It has an interconnected floor plate size of 150,000 sq ft and telecom broadband connectivity with redundancy through multiple service providers. The Park has a futuristic design, state-of-the-art construction, and environmental compliant planning facilities. It also has high-capacity multi-level and basement car parking along with other recreational facilities, such as food courts, gymnasiums, etc.

Total land area: 8.4 acres

Built-up area: 1 mn sq ft

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