The Hindu Business Line : Kolte-Patil to take up IT office space projects

THE Pune-based Kolte-Patil Developers Ltd has firmed up plans to straddle the burgeoning demand for office space from the country's fast-growing information technology industry.

In addition to half a dozen large projects in this segment in Pune, the company is all set to take up two large IT projects in Bangalore at a total cost of Rs 120 crore over the next two years.

The company, which has till recently been involved in the residential buildings space has now moved into the specialised space for the IT and ITES sector with its first project, a one million sq ft IT park coming up on the Pune-Ahmednagar road, which is developing into a large hub for IT players.

Talking to the press to announce the completion of the 3,50,000 sq ft first phase of Gigaspace, Mr Rajesh Patil, Managing Director, said the Rs 100-crore project will be complete in the next twelve months.

"Ninety thousand sq ft of the Gigaspace has already been taken up by Silicon Meadows and two other companies," he said adding that phase two of the project will have additional space for IT players and also large malls and other recreational amenities.

Kolte-Patil is already working on E-space, another four lakh sq ft built up space for IT in the same locality at the cost of Rs 60 crore. Meanwhile, the company has also started firming up plans to set up a built-to-suit-facilities for IT companies on 120 acres of land that it has acquired in the vicinity of the Hinjewadi Software Technology park in the outskirts of Pune.

Also on the anvil is a five lakh sq. ft facility to be constructed at Aundh, en route to Hinjewadi. The company is simultaneously working on plans to kick-off its operations in the same field at Bangalore city according to Mr Patil who said plans are being put in place for six lakh sq ft IT park on Hosur road and another 1.2 lakh sq ft facility at Koramangala.

"Work is expected to commence in the next couple of months on these projects and we expect to commission the projects in two and a half years from now," he said.

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