CHENNAI: India Land properties (ILP), part of the Madrid-based Americorp group, is betting big on its flagship technology park at Ambattur to give a fresh impetus to the fast changing industrial landscape of the suburb in north Chennai.
By September, the 2.6 million sq ft ILP tech park on 10-acre would be commissioned with marquee clients like the Royal Bank of Scotland (RBS), Kone and Etilsalat. Total office area will be two million sq ft — Tower A (4.2 lakh sq ft) and Tower B (6.3 lakh sq ft) are completed and ready. Tower C (9.5 lakh sq ft) is coming up.The 100% FDI-backed project of the global realty player is in the last leg of completion.
The Rs 450 crore project has a potential to generate over 20,000 jobs in the IT, ITES, retail and support services. It is expected to play a major role in transforming Ambattur, which is one of the oldest industrial hubs in Chennai.
ILP has emerged as the largest player with its plug-and-play tech park by building IT space which is double the size of Tidel (1.3 million sq ft) and Olympia Tech Park (1.2 million sq ft) in the city.
ILP director, S Salai Kumaran told ET Ambattur is witnessing a sea change. From an industrial belt, it is transforming into a catchment area for companies, including MNCs, in diverse fields. It has the potential to become a central business district (CBD) and another OMR given its proximity to leading hospitals, schools and the entire eco-system.
It also has the advantage of a strong road and rail connectivity linking centres like Tiruvallur, Perumbur, Anna Nagar and Vadapalani which have a high concentration of workforce from diverse sectors, he added. "Our development work is progressing well. We expect to become fully operational by September," ILP country head C S Ilangovan alias Umesh told ET, noting that office premises would absorb a space of 2 million sq ft, while the balance would be used for parking, retail (multi-cuisine food courts) and landscaping infrastructure.
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