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TIDEL Park Limited, a joint venture between the Tamil Nadu Industrial Development Corporation (TIDCO) and the Electronic Corporation of Tamil Nadu (ELCOT), has initiated the process of selecting a consulting firm to provide design, engineering, and project management consultancy services for the construction of a massive IT and ITES office space in Panjapur, Trichy. This ambitious project comes as a response to the growing demand for office spaces in Trichy, and it aims to replicate the success of TIDEL Park in Chennai.
The preliminary study conducted by the management revealed a substantial need for office spaces in Trichy, prompting the decision to construct two phases of premium office buildings, each offering approximately 5.5 lakh square feet of floor space. These buildings will be strategically located near the upcoming integrated bus terminus (IBT) complex, enhancing accessibility and convenience for the workforce.
The selection process for a consulting firm is well underway, with the final decision expected within a month. Once selected, the chosen consulting firm will be tasked with preparing a comprehensive proposal that includes detailed designs, models, site plans, and floor space layouts. This proposal will serve as the blueprint for the construction of the mega IT park in Trichy.
It's important to note that this project in Trichy is not following the TIDEL Neo model typically used for tier-II cities and towns. Instead, it is designed to be on par with the magnitude and quality of the original TIDEL Park in Chennai. The consulting firm will have approximately four months to complete the study and provide a detailed model that will pave the way for the commencement of construction work.
The decision to expedite this project was motivated by the increasing demand for office spaces from both domestic and international companies. Trichy, strategically located, has become an attractive destination for businesses, and the new IT park aims to cater to their needs effectively. The consulting firm selected for this project will also conduct a separate market study to assess various requirements, including amenities, infrastructure, and office floor space design.
The timeline for this ambitious endeavour indicates that construction work is scheduled to commence by March 2024, with an estimated completion time of approximately two years for both phases I and II. The Trichy corporation has already designated 8.9 acres of land in Panjapur along the Trichy-Madurai National Highway for this project. A resolution has been passed to transfer this land to TIDEL Park Limited for the development of the IT park.
To facilitate this project's successful execution, the state government has pledged an investment of Rs 600 crore. Phase I of the TIDEL Park in Trichy is anticipated to be commissioned by 2026, marking a significant milestone in the city's growth and development as a thriving hub for the IT and ITES sectors. This endeavour not only meets the growing demand for office spaces but also contributes to the economic development of Trichy and the broader region.
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