Kandlakoya IT Tower works gain pace

Hyderabad: Development works of the IT Tower at Kandlakoya is gaining steam with the Telangana State Industrial Infrastructure Corporation (TSIIC) inviting finance proposals for the project that is expected to cost Rs 998 crore.

The site is spread over 10 acres and TSIIC is executing the project on Joint Development basis with scope for built up area of 22 lakh square feet. A pre-bid conference with interested bidders is scheduled on Monday.

Under the initiative, TSIIC intends to develop the IT Tower with at least 50 per cent of total built up area which works out to 11 lakh square feet, including 1.30 lakh square feet of Plug and Play IT office space and 2.70 lakh square feet of IT & ITES warm shell with high side services.

The balance 11 lakh square feet would be utilized for non IT/ITES space including provision for business centre, offices, residential, hospitality and commercial space, a senior TSIIC official told Telangana Today.

Of the 11 lakh square feet, the developer’s share would be 7 lakh square feet and the remaining area would be with TSIIC. The developer has to complete the project construction in three years, the official said.

The bidder will have to design, engineer, finance, procure, construct and transfer the TSIIC’s share of built-up area in the project. This apart, the bidder will also have to maintain the developer’s share in the project.

The Joint Development share would be the sole criteria for evaluation of the bids. The project would be awarded to the bidder who quotes the highest share to TSIIC, the official explained.

The State government, as part of its efforts to decentralize IT growth in the city through Growth in Dispersion (GRID) Policy, is developing the IT tower at Kandlakoya.

IT and Industries KT Rama Rao laid the foundation stone for the park on the occasion of Chief Minister K Chandrashekhar Rao’s birthday early this year.