Good news for building owners as Technopark comes to TVPM city

Good news for building owners as Technopark comes to TVPM city

Thiruvananthapuram: The Technopark at Kazhakoottam near the Thiruvananthapuram city is facing severe space constraints for any further expansion. In an innovative bid to overcome this, Technopark now proposes to take private buildings on lease and set up IT clusters.

Companies seeking land to set up their units in the IT park will be allotted buildings on private partnership basis under the Technopark brand.

With this, the software city is set to grow beyond Kazhakoottam, and register its presence in different parts of the capital and along the stretch from Technopark to the Pallipuram Technocity.

Expression of interest (EOI) has been invited from building owners towards the proposal. Those who own buildings with a minimum area of 50,000 square feet are eligible. The marketing and branding of the buildings will be the responsibility of Technopark. Revenue from the lease will be shared between the private owner and Technopark.

The new clusters will enjoy all the facilities for enterprises that currently exist in Technopark. The same laws will apply.

By obviating the need to construct new buildings, government can save precious revenue. The scheme also allows private building owners to obtain major companies as clients through Technopark.

Two models

Owners of commercial buildings can opt from anyone of the two models to enter into contract with Technopark.

Under the first model, the private owner can choose to be the single point of contact for attending to all the needs their client companies. In this case, the companies pay the lease rent directly to the owner, who will in turn remit to Technopark its share. The period of contract will be five years initially.

Under the second model, the responsibility for meeting the needs of client companies will fall on Technopark. The lease rent will be collected by Technopark, and a share remitted to the owner. However, the period of contract will be as per the requirement of the clients.

The private owners can also run restaurants and cafes of requisite standards in the leased-out buildings.

The buildings should ideally have 24 hours electricity, generator facility, air-conditioning, fire rescue systems and multiple internet connection ports.

Owners may also go for the 'plug and play' model wherein their buildings are so designed and furnished that the companies can straight away start functioning without having to make any additional constructions.

The buildings must have adequate parking space as prescribed under the Kerala Municipality Building Rules.

Interested building owners can submit their expression of interest to the CEO, Technopark.