Kerala Government has approved the “Quad” project to be implemented by Technopark in the fourth phase of its expansion. The cabinet meeting held on Thursday gave approval to the project which will develop the fourth phase of Technopark as a Technocity with all the latest amenities that include major housing projects, shopping malls, hospitals and educational institutions.
As per the details, the Quad project is expected to create 40 lakh square feet of built-up space on about 30 acres with an investment of Rs 1600 crore. The government has set a target to complete the project by mid-2025.
Technopark will also construct an IT office building having 8.50 lakh square feet on 5.5 acres at an investment of around Rs 381crore. The building will be fully developed and operated using Technopark’s own funds or borrowings and will be leased out. An official government release said the building will have the capacity to accommodate 6000 IT professionals. A multi-utility commercial facility in an area of 9 lakh square feet will also be set up on 5.60 acres at a cost of Rs 350 crore.
An IT/ITES office complex will also be built on 4.50 acres with an investment of Rs 400 crore. The officials said a committee in which Electronics and Information Technology Secretary as convenor and Additional Chief Secretaries of Finance, Revenue, Environment, Local Self-Government and Secretary of Law Department as members will be formed to review the proposals for developing the fourth phase of Technopark as an IT cum commercial and residential property.
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