Inkel’s Business Park at Angamaly Turns Big Hit

TechnoparkToday.com(May, 2015): With the first 2, 00,000 sqft tower at its Business Park in Angamaly fully sold out to seven firms, INKEL Ltd is gearing up for an additional investment of Rs 200 crores to make the 30-acre Business Park a major eco-friendly Business and Industrial Hub in the State.

The work on the next 2.5 lakh sqft Tower–II has been progressing well and the Company has decided to construct two more towers of 2, 50,000 sqft each in the due course of time for the benefit of Industrialists and Investors. The ultimate plan is a fully integrated Business Park of 2.5 million sqft.

It was in 2007 that the Government established INKEL with 26 per cent stake and the remaining shared by NRI and Public investors. At present, Government holds 32% share in INKEL. The 30-acre land at Angamaly in Ernakulam district was handed over by the Government in 2010 on a 90 year lease to INKID, a Joint Venture company of INKEL and Kerala State Industrial Development Corporation (KSIDC), at a rate of Rs 100 lakhs per acre, which included registration and stamp duty.

INKEL Managing Director T Balakrishnan said the Company was witnessing tremendous response from the Business Community for the Built up Space where it has developed all basic infrastructure facilities such as road, water and power to make it a ready to occupy space.
“We have so far invested Rs 100 crore for developing the land and the remaining capital will be pumped in for constructing the rest of the Towers and its allied infrastructure,” he revealed.

Though land cost has been high compared to the Smart City project (Govt share 16%), where the Government has handed over 246 acres of land in 2011 for Rs 43 lakhs per acre on a 99-year lease in the nerve centre of IT near Infopark, INKEL has managed to provide the space having specifications comparable to IT Building at a much lower rentals of Rs 18 per sqft per month and Rs 1900 per sqft for long lease to the units. This was made possible by adopting professional and innovative practices in construction management so as to keep the rates lower to support investors who wanted to start their operations in Kerala, while not compromising on quality and infrastructure facilities. Plans are also underway to offer the development of the remaining Towers to private investors, on a joint venture mode.