Introduction
According
to a latest report, the reputed construction company Taurus Investments
Holdings is coming up with a mega project, which is named as Downtown Technopark. In all likelihood, the work is going to start
by the beginning of 2017. The report further adds that this mega project will
have will have grant design that takes care of the shortcomings of its
predecessor Technopark. The real estate investor has reportedly started
parleying with some of the current tenants or multinational companies, including
four fortune 500 companies, working from the predecessor Technopark premises so
that it can launch its new project with some of them on board. In this blog
post, we will take the readers through the salient features of this new
project.
Lease
Agreement
The
reported cost of this mega project from the Taurus Group is Rs. 1300 crore. The
group is planning to set up the park by 2019. Currently, the builder is in the
process of getting the necessary environment clearance from the government. Once
it gets the final go ahead from the government, it will finish the design
specifications for this upcoming project. According to reports, the builder
expects to complete the formalities by the end of November or the beginning of
December and will break the ground by December end or January first week. In
addition to taking the necessary no objection certificate from the state
government, the builder has also completed the formalities to take land from Technopark
on lease so that it can build the state-of-the-art facilities for the new IT
Park. The group is expected to demarcate the boundary after entering into the
lease agreement with the Technopark management. In all likelihood, the lease
agreement will come into force in November 2016.
Taurus Technopark
Taurus
Group is planning to complete the 1300-crore project within two years. If
everything goes well, the first office of the proposed park will start working
by 2019. A Mumbai-based company by the name RSP Design Consultants has prepared
the master plan and concept design for this mega project. The group is very particular about the
companies that it wants on board when it launches the first phase of the
ambitious IT Park. Hence, it has approached some of the multinational
companies, including four fortune 500 companies operating in Technopark, so
that they can take possession of prime space in the new venture at the time of
its launch.
About
Downtown Technopark
Taurus
Group wants to develop this tech park as a world-class and mixed-use project.
The new IT Park will have over 1,800, 000 Square Feet of Class A office spaces
in three towers and a 750,000 Square Feet regional-scale shopping centre with
multiple anchor tenants. This park will also have a retail mall, multiplexes, a
convention centre, two hotels and other entertainment utilities. Hilton Group
is going to run one of the hotels when the project goes full steam. This mega
project is going to give direct employment opportunities to nearly 20,000
people when it becomes fully functional. In short, the project is going to contribute
to the overall development of the region.
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