Facility to house convention centre, residential complex, luxury hotel.

The SEZ is being set up by TRIL Infopark, a joint venture between Tata Realty and Infrastructure Ltd, Indian Hotels Company Ltd and Tata Realty Initiative Fund – 1 and TIDCO

The IT SEZ and related facilities, including the residential component, will be set up first
Work on the Rs 3,600-crore IT SEZ and convention centre by the Tata group company, TRIL Infopark Ltd, has commenced in Chennai.

According to sources in the know, the soft launch of the IT space is on, with a number of international property consultants and local players appointed to sell the IT space. An incubator facility is likely to be ready by the year-end, with the project scheduled for completion in the next 18 months. Site work has started with the environment clearance for the project obtained recently.

TRIL Infopark Ltd is a joint venture between the Tata Group companies, Tata Realty and Infrastructure Ltd, Indian Hotels Company Ltd and Tata Realty Initiative Fund – 1 and the Tamil Nadu Industrial Development Corporation Ltd (TIDCO), a State Government enterprise.

In February 2008, a consortium of Tata Realty and Indian Hotels was awarded a 99-year lease on a 25.27 acre plot of Government land in Taramani on the IT corridor. It was awarded the project on a bid of Rs 52.50 crore an acre to set up a 3-million-sq-ft IT SEZ, convention centre, luxury hotel, residential and retail facilities.

According to sources, the IT SEZ and related facilities, including the residential component, will be set up first. The company is working on the finer details of the project which are to be finalised in about a month.

TRIL Infopark will be the third IT SEZ in Chennai — the first within the city — after DLF’s IT SEZ and the Shriram Gateway on the outskirts of Chennai.

Source: Hindu.com