Blue Star Realtors to develop HDIL Cybercity in Kochi

Chennai: Housing Development and Infrastructure (HDIL), through its subsidiary, Blue Star Realtors, will invest Rs 2,000 crore on developing the HDIL Cybercity at Kalamaserry near Kochi.

The investment, over a period of 48 months, will go into setting up what is billed as Kerala’s first integrated information technology (IT) township on 70 acres of land.

The township will have a built-up area of 80 lakh sq ft. It will house facilities for IT/ITeS businesses, residential apartments, villas, schools, shopping malls, a multiplex, club house, service apartments and a star hotel.

The foundation stone laying ceremony for the cybercity will be conducted by Kerala Chief Minister V S Achutanandan on Saturday.

“HDIL Cybercity is expected to provide 60,000 direct and 1,50,000 indirect jobs,” Rakesh Kumar Wadhawan, chairman, HDIL, said.

“The project will generate over Rs 425 crore in revenues for the Kerala government by way of stamp and registration duty and Employee Welfare and Village Tax.”

HDIL is the flagship construction and real estate development company of the Wadhawan Group.