KOCHI: The denotification of the SilverLine project has come as good news for Infopark, which has been bursting at the seams due to the unavailability of land.
Now, a portion of the 22.5 acres of the original 45-acre land in Kochi that was frozen for the high-speed railway project can not only be used to lease to investors, but also to develop basic amenities like restaurants.
Regarding the land usage pattern, Infopark CEO Susanth Kurunthil said, “The total land actually is not 45 acres. Before the SilverLine project was announced, UST Global was allotted a 9-acre plot on the 45-acre land belonging to Infopark Phase II. However, work stalled after the land was frozen. Later, the state government lifted the curb via a special order.”
UST Global is building a massive new campus on the 9-acre plot in Infopark Phase II. Feature a 10-floor building with over 6 lakh sq ft of space that would seat 4,400 employees, the campus is slated for completion by late 2027.
“Hence, the total land remaining was 36 acres. Of that, 9.73 acres have been allotted to the Muthoot group, and 4.1 acres have been leased to the Padiyath Group. So, only 22.6 acres is available.
However, the entire 22.6 acres won’t be available for lease, as we need space to develop common amenities like restaurants and roads. Demand for a recreational space has been growing rapidly, too. Hence, the land size that can be leased would shrink further,” Susanth told TNIE.
On who the land will be leased to, Susanth said the decision will be taken after looking into the profiles of the investors.
“We have to decide which one is strategically important for us. We don’t have land to give to everyone who asks. So, it won’t be a first-come-first-serve. The most important assessment will be to see whether the company has the capability to build a campus, and that too within a set period. Only those who meet such criteria will be leased the land,” said the CEO.
Park info
Infopark Phase 2 area: 160-acre waterfront IT campus
Employees: Over 1 lakh
Projected capacity: 8 million sq ft of built-up space expected to house major global and domestic technology corporations
