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GROWTH OF COCHIN-IT AND COMMERCE KEY DRIVERS
04 June 2007 -Exclusive Ventures
Projects in Progress in Cochin as of April 07
1) Wipro campus, L&T and Leela Infopark stage II and other Infopark Buildings
2) Mather Green Hills near Kakkanad
3) Pantaloon Super Bazar in Metro One Kaloor
4) Muthoot MM Tech Towers
5) Mall O near Byepass
6) Alappat Heritage in M.G Road
7)International Container Terminal -Cochin(Expected employment of >50,000 with entire Shipping
Industry waiting to Move in from India and South Asia. Also Huge commercial activity)
Upcoming Projects
1) Smart City
2) Nest Electronic Hardware Park
3) Shobha Hi Tech city
4) Kinfra Biotech SEZ
5) CIAL IT park
6) Media City
7) Fact Knowledge City-500 Acers
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From Skyscraper City
QUOTE:May 2007
In the next six months too the employment in Infopark will increase to 10000 since Wipro building alone is going to accommodate 5000 professionals and in the long run there will be about 8000. Also L&T& Leela Infopark builidngs will be opened in July-September season. So all together it will be 10000 to 15000. So the demand for apartments will increase. But since most of the IT professionals are bachelors they will prefer rooms instead of flats. It is time for FAR order to come out since the High Court has given order for revised FAR within six months.
One building of Wipro is already set to become operational. So that will be occupied in the next one month or so thus increasing the number of professionals to at least 1000. Housing problem needs to be taken up seriously.
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From Skyscraper City
QUOTE: JAN2007
Currently, Infopark has IT buildings spread over an area of 3.7 lakh sq. ft. More than 3,500 professionals are working with the 31 IT companies like Wipro, L&T Techpark, Leela Lace Holdings, Tata Consultancy and IBS.
A four million sq.ft. IT complex is likely to be materialised by 2010.
The space meant for buildings of various companies are as follows: Wipro (25.18 acres), L&T (7.01), Leela Lace Holdings (6.35), Tata Consultancy (15.73) and IBS (4.21 acres).Over 800 people are now working in the 1.35 lakh sq. ft. campus of Leela Lace Holdings. Its second project, which is almost complete in 3.5 lakh sq.ft. area, will create 3,500 job vacancies.
The L&T campus to be completed in July 2007 is spread over 3.5 lakh sq. ft. With the campus extending to 6 lakh sq.ft., it will provide employment for 5,000 IT professionals.
The completion of the L&T project in June 2009, TCS in February 2009 and IBS in 2010 is likely to create over 13,000 vacancies in these companies.Adding to these is the new IT building to be launched by Infopark. The building spread over 6.7 acres - expected to cost Rs 50 crore - is aimed at small and middle level IT companies.
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KOCHI: Can we accommodate 90,000 people in Kochi in the next five years?
That’s a million dollar question. Housing for the employed is going to be a major challenge in Kochi in the next couple of years when around 30,000 people will be employed at the Infopark alone.
And this basic need for shelter is redrawing the city’s boundaries to nearby places like Aluva, Tripunithura, Cherthala and Vypeen. Land values in the neighbouring areas of Kakkanad upto Muvattupuzha have already trebled. While a cent of land in Kolenchery costs Rs 1 lakh, the cost in Tripunithura has shot up to Rs 2 lakh and more.
Lack of adequate land, rising realty costs, crowding population could all be the indicators that it’s time for the city to grow. And time for the corporation and the panchayat to demarcate new territories. Says Dr Najeeb of Abad Builders: ‘‘There’s no land for big housing projects in the city heartland. Kochi is growing from Kalamassery to Aluva, and towards Vallarpadam at the other end.’’
If one were to look at the ongoing apartment projects to be completed in two years’ time, around 10,000 units (read flats and houses) would be ready in Thrikkakara panchayat alone. But the expected work population looking for quality housing is anywhere around 90,000 in five years!
Says George E.George, secretary, Kerala Builders Forum: ‘‘Around 12,000 units will be ready in Kochi by 2009. That includes the unorganised sector. Sanction for new projects have been frozen for the last four months.’’
With the government freezing sanctions and the new rules yet to be in place, builders say they would run out of stock to meet the industry’s demands. So what will happen to the one-and-a-half lakh population that's going to work in the IT, ITES, and the other major projects being planned in Kakkanad and its periphery in the next decade?
Says Antony Kunnel, Kunnel Constructions and Convenor, South India, Builders Association of India, ‘‘The city will grow towards Muvattupuzha and Vallarpadam. We can accommodate people provided the government doesn’t penalise us for everything.’’
He says that apart from housing units and offices, construction has begun in the retail network too which would bring in more employment and thus more demand for residential accommodation.
With the government go-ahead for the Smart City project, Kakkanad has once again become the focal point of construction industry. About 1.6 crore sq ft is under construction in the organised sector excluding those for which NOC has been obtained. Of this, 30 lakh sq ft is IT space, inclusive of projects of major IT players like Wipro and Leela. Says Sani Francis of Holy Faith, ‘‘The IT industry is talking of 60 sq.ft per seat for an IT professional. It works to about 50,000 people in Infopark and IT sector alone.’’
While builders profess they can cater to the increasing demand, it’s easier said than done. For infrastructure in many areas in the city outskirts, including the neighbouring parts of Thrikkakara panchayat, leaves a lot to be desired.
‘‘How can we sell projects in areas which have no approach roads? Those that are available are narrow. The government should help us in this regard,’’ says Kunnel.
But yes, this is the right time to invest. So say the builders. Because rentals are going to go up as the end-user will not be a buyer at the initial stage. All will not be looking for family accommodation and hence there would be a demand for small units - mostly bachelor accommodation.
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