• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Hyderabad , Aug 9

THE Andhra Pradesh Government has come up with a new approach to make the real estate available to the IT industry, which is projected to require about 30 million sq ft of built-up space by 2009. Henceforth, land allotments in Hyderabad will be given only to mega IT companies.

Private land owners can develop IT parks by aggregating 25 acres in the periphery of the city and five acres in the core area of a city in the State.

Urban Land Clearance (ULC) exemption would be given for these private IT parks on payment of prescribed fee and IT companies occupying such parks would be eligible for 100 per cent reimbursement of stamp duty and registration fee.

Under the new initiatives to make Hyderabad the preferred destination for big IT players, the Government proposes to create a 2,500-acre SEZ at the existing Hardware Park, which is meant for both hardware and software companies.

Also, a Hardware Manufacturing Cluster for non-SEZ units at the Hardware Park is proposed.

It would establish product-specific software SEZs at a location to be identified shortly.

The Government proposes to develop IT parks for multi-tenant occupation similar to Hitec City, Mindspace Cyberabad, Vanenburg IT Park, RMZ Futura etc., along with a concept of `built to suit' facilities on lease.

In an official release, the State Secretary for IT&C, Ms Ratna Prabha, said that Andhra Pradesh aimed to achieve 40 per cent growth year on year in IT/ITES exports.

Exports are expected to cross Rs 11,500 crore with an additional employment of 30,000 in 2006.

For IT growth, the State Government has identified Tier-II cities such as Visakhapatnam, Tirupati, Warangal, Vijayawada, and Kakinada. To develop infrastructure in these places, incubation space for entrepreneurs would be created jointly by the Government and STPI.

The other initiatives for Tier-II include IT towers (multi-tenanted buildings) at Visakhapatnam and Tirupati.

IT Parks, based on demand, would be set up.

The Government would provide special incentives of Rs 50-lakh subsidy to the first five anchor companies employing 250 in IT or 500 in ITES.

Alternatively, Rs 15-lakh recruitment assistance would be given for employing 100 in IT or 200 in ITES.

The first IT company, IBSS, has agreed to start its operations in Warangal by employing over 500 people, the IT Secretary said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Hitachi Data launches new storage solution

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line