The government has given in-principle approval to a Rs 1,600-crore project for the development of Phase IV of Technopark IT hub at Pallipuram near here.
The state cabinet on Thursday gave the green signal to the ambitious QUAD project, which envisages an integrated township in the Technocity complex.
The project, expected to be completed by mid-2025, comprises 4 million sq ft of built-up space spread over 30 acres, comprising office space, residential and shopping facilities, hospitals and educational institutions.
The 8.5 lakh sq ft IT office complex will be built by Technopark on 5.5 acres at a cost of Rs 381 crore and will be leased out to companies. Another IT/ITeS office complex spread over 8,00,000 sq ft, will be built by the co-developer on 4.5 acres at an estimated cost of Rs 400 crore. Each of the two buildings will be able to accommodate 6,000 professionals.
A 14 lakh sq ft residential complex will be built on 106 acres at a cost of Rs 450 crore. A committee with members from Secretary, Electronics and IT, Convener and Additional Chief Secretary (Finance, Revenue, Environment and Local Self-Government) and Secretary, Law will be constituted to study the proposals for commercial and residential buildings. colony.
Financial Assistance for Coastal Families
In the cabinet meeting, it was decided to approve an assistance of Rs 50.027 crore to the families of fish workers to compensate them for loss of work for 45 days from April to August 2022 due to bad weather.
The funds to be released from the Chief Minister’s Disaster Relief Fund will benefit 1,66,756 families of fishermen and allied workers.
It also decided to approve setting up of a regional office for the Kerala State Ex-Servicemen Development and Rehabilitation Corporation in the Malabar region.
In the meeting, it was decided to sanction Rs 25.28 crore for acquisition of additional land for completion of two reaches of Mahe Canal.