To deal with space crunch, Kozhikode Cyber Park comes up with Rs 150 Cr development project

Kozhikode: With several IT firms awaiting office space for their functioning, the Kozhikode Cyber Park is set to take up the construction project with private partnership. At an expense of Rs 150 Crore, a building having 4 lakh square feet area with international standards is planned to be constructed for the IT firms. 

The project is being carried out by the leading builder, Good Earth. For the same, six acres of land will be allotted on lease by the Kerala State Information Technology Infrastructure Limited (KSITL). Both the KSITL and the State Government have given approval in principle for the project. It is also decided to hand over the land. However, as per the existing law, the land can be leased only for thirty years. As it is not profitable, Good Earth has requested the KSITL to raise the lease period to 90 years. The KSITL authorities have informed that it has transferred the application to the government for approval. Since the extension of lease period comes under policy making, it needs Cabinet’s approval. 

The plan is to construct the building in two phases and be completed in five years. A total of 40 companies have applied for office premises. Although there was a plan to expand Tata Elxsi, a multinational company, it was hindered due to lack of space. 

The buildings of the Government Cyber Park and the UL Cyber ​​Park are also fully utilised. The Government has been trying to usher in private partnerships in the Kozhikode Cyber Park for long. Although it had invited tenders in this regard several times, there were no takers. Later, Good Earth expressed its interest as part of the Kerala Technical Expo.    

Malabar Chamber of Commerce president M A Mehboob said that the government has adopted a positive approach and it is hoped that a decision will be taken soon regarding the lease term.

At the same time, an amount of Rs 100 crore was earmarked for the new nine-story IT building under the KIIFB project last year by the government. The fund has not been made available so far. Now, the cost of construction for the project has increased to Rs 195 crores. 

The efforts are on to get approval by investing the additional amount also, said Cyber ​​Park CEO Sushant Kurunthil.