Hardware park near Bangalore

Hardware park near Bangalore

Spread Over 1,450 Acres, Shapoorjis Plan Rs 8,820-Crore Facility

The Economic Times


BANGALORE’S realty juggernaut continues to roll. While the appetite for commercial and residential spaces is at a record high in the city, the upcoming international airport at Devanahalli is drawing the biggest names in business to north Bangalore. Adding to this momentum is Shapoorji Pallonji and Company’s latest magnum opus — a 1,450-acre IT hardware park in Devanahalli at a cost of Rs 8,820 crore.

To be developed in phases, the IT hardware park will see the development of 425 acres each in Phase I and II. The remaining 600 acres will be included in Phase III, sources said. While the main hardware park will be spread over 1,109.25 acres, the rest of the facility will boast of an IT park, residential area (80.53 lakh sq ft) with roads, a star-rated hotel (2.5 lakh sq ft), an effluent treatment plant (2.25 lakh sq ft) and a power plant. Besides Shapoorji Pallonji’s big-ticket investment, clients in the hardware park are likely to invest 2.5 to 3 times in setting up their respective units.

As a result, the total capital investment in the hardware park will shoot up to a whopping Rs 29,000 crore to 33,000 crore, sources said. The facility is expected to directly employ 80,000 persons and another 1.6 lakh to 2 lakh indirectly.

While several builders and developers had shown interest in the proposed hardware park announced by successive chief ministers in the last couple of years, Shapoorji Pallonji is the only group which formally applied to the state government for the facility.

The Rs 3,000-crore group made a presentation to the chief minister and his Cabinet colleagues two months ago. The state high-level clearance committee (SHLCC) chaired by Chief Minister HD Kumaraswamy approved both the proposals last week.

The group is also building a 150-acre IT/ITes SEZ at Srirangapatna taluk in Mysore, very close to the Infosys training centre.

HARD FACTS
The Shapoorjis first showed interest in K’taka’s realty market with a 150-acre IT/ITeS SEZ project near Mysore