India Land plans to set up Rs 375-cr IT park in Chennai

CHENNAI:India Land and Properties (India Land) is promoting a 2.5m sq ft IT park at an estimated cost of Rs 375 crore at Ambattur, Chennai, which is emerging as a new destination for IT/ITES companies. While 1.4m sq ft is slated to be ready by July, ’07, the balance 1.1m sq ft is to be completed by December that year.

India Land is part of Americorp, a global proprietary investment management European company with focus on private equity and real estate in India. In Chennai, Americorp owns IT space in Tidel Park and also near Ambattur. Its clients include Scope International, Reliance Communication and Sutherland Technologies.

The IT park project — Chennai Tech Park — is coming up on a 10 acre land in Ambattur Industrial Estate. It will have three basements and 14 upper levels across three towers — A, B & C. While A & B will have a floor plate of 70,000 sq ft, Tower C will have a floor plate of 60,000 sqft.