HDIL - Rs 4000 crore Cybercity project at Kochi

A Rs 4000 crore Cyber city project for the IT/ITES sector is being developed by Housing Development and Infrastructure Ltd (HDIL) at nearby Kalamassery, which will be Kerala's first integrated IT township.

HDIL is one of the largest Real Estate Development companies in the country. The Cyber city, spread over a 70 acre land acquired from the Public sector Hindustan Machine Tools (HMT), will have besides IT/ITES, residential apartments, villas, schools, shopping malls, multiplex, club house, service apartments and a star hotel, Rakesh Kumar Wadhawan, chairman, HDIL, told reporters here.

This is HDIL's fourth such project in India. The project's foundation stone will be laid by Chief Minister V S Achuthanandan on January 19. Cybercity would provide 60,000 direct and 1,50,000 indirect job opportunities at Kochi and is expected to be completed over a four-year period.

The HDIL cybercity will have a built up area of 80 lakh square feet and is the company's first flagship IT project in Kerala.The cybercity will be developed into various zones of residential, IT, Commercial, Hotel, Social and Infrastructure amenities, he said. The project would generate a revenue of Rs 425 core to the state government by way of stamp and registration duty and Employee Welfare and Village tax. Lower cost for IT space, huge pool of talent and qualified manpower had made the company prefer Kochi to Bangalore and Hyderabad.

News Source: Manorama

HDIL Website
About HDIL: Housing Development and Infrastructure Limited is a listed real estate development company in India, with significant operations in the Mumbai Metropolitan Region. HDIL's business focuses on Real Estate Development, including construction and development of residential projects and, more recently, commercial and retail projects, Slum Rehabilitation and Development, including clearing slum land and rehousing slum dwellers, and Land Development, including development of infrastructure on land which the company then sells to other property developers. HDIL has an integrated in-house development team which covers all aspects of property development from project identification and inception through construction to completion and sale.

Since incorporation in 1996, HDIL has developed 23 projects covering approximately 19.29 million square feet of saleable area, including approximately 12,730,000 square feet (1,183,000 m²) of land sold to other builders after Land Development, primarily in the Mumbai Metropolitan Region. HDIL also have constructed an additional 1,900,000 square feet (177,000 m²) of rehabilitation housing area under slum rehabilitation schemes. Via