Multi-developer strategy for Technocity

15 Apr, 2008

The Government of Kerala has decided to adopt a multiple-developer strategy for setting up the 500-acre Technocity IT township near Thiruvananthapuram in order to spread the risks associated with the project and encourage healthy competition among the developers, said Dr Ajay Kumar, Secretary-IT, Government of Kerala. The investment in land and basic infrastructure alone is expected to be around Rs. 1,500 crore. Developers can bid for parcels of land based on their requirements as currently, the plan is to offer parcels of land that are smaller than 50 acres; those that range between 50 to 100 acres; and those above 100 acres, he explained.