The signing of the lease agreement of Downtown Technopark is expected to be held in June.
Multi-crore mammoth project Downtown Technopark from Taurus Investment Holdings is expected to start construction works by Onam. The much-delayed signing of the lease agreement is expected to be held in June.
The Rs.1200 Crore project expect to break ground this Onam and hopes to complete in two years. As the project was getting delayed, there were many rumours that upcoming two malls (Lulu and Travancore mall) along the national highway might affect the prospects of Downtown Technopark.
The Rs.1200 Crore project expect to break ground this Onam and hopes to complete in two years.
However, Taurus Investment Holdings clarified that it’s not going to affect their project as the company is looking for customers within the Technopark campus. THI’s target customers are employees of Technopark.
After signing the lease agreement, Taurus will set up its office in the phase III campus. The company won the Downtown Project in Swiss challenge bid in 2014. Technopark, Taurus Investment Holdings and THR India Ventures signed a tripartite agreement for the execution of the Downtown Technopark project almost one and a half years ago but still, no sign of initiation of work was seen.
Taurus has to pay around Rs 78 crore as lease amount to Technopark. The land will be leased to the company for a period of 90 years.
Taurus Investment Holdings’ target customers are mainly employees of Technopark.
Downtown Technopark will be the most technically advanced building in the state with geothermal cooling for air conditioners in its buildings. Multiplex in Taurus Downtown will have 11 screens and it will be run by popular group Cinepolis India.
The project involves 50 lakh square feet of IT SEZ and non-SEZ space. It will also house Class A office spaces along with facilities like world-class retail space, entertainment areas, F&B outlets, a business hotel and a state-of- the art plug and play office facility for start-ups and small businesses.