Trichy Corporation has recently concluded the selection of an expansive 8.9-acre plot of land in Panjapur for allocation to Tidel Park Limited. This organization is a joint venture between the Tamil Nadu Industrial Development Corporation (TIDCO) and the Electronic Corporation of Tamil Nadu (ELCOT), both state-owned entities. The primary objective of this acquisition is to facilitate the construction of a state-of-the-art office space specifically designed for IT and ITES companies operating in Trichy city.
Trichy Corporation has recently concluded the selection of an expansive 8.9-acre plot of land in Panjapur for allocation to Tidel Park Limited. This organization is a joint venture between the Tamil Nadu Industrial Development Corporation (TIDCO) and the Electronic Corporation of Tamil Nadu (ELCOT), both state-owned entities. The primary objective of this acquisition is to facilitate the construction of a state-of-the-art office space specifically designed for IT and ITES companies operating in Trichy city.
In order to proceed with the handover, the elected council of the urban local body has unanimously passed a resolution that mandates the assessment of the land's value. This evaluation will be conducted before the transfer takes place, ensuring transparency and fairness throughout the process. The management of Tidel Park Limited initiated the request for land on April 28, 2023, by sending a formal letter to the Trichy Corporation. They specifically requested a substantial 10-acre parcel of land situated in Panjapur, along the Trichy Madurai NH.
Moreover, the state industries department has demonstrated its commitment to this project by allocating an impressive budget of Rs 600 crores for the fiscal year 2023-24. This significant financial backing further underscores the government's determination to boost the IT and ITES sectors in Trichy. As part of the preliminary stages, the urban local body conducted several site inspections to identify the most suitable location. These assessments led to the conclusion that 8.9 acres of land owned by the Trichy Corporation in Panjapur revenue village is the optimal choice for the proposed Tidel Park.
An official source within the Trichy Corporation revealed that the council has successfully passed a resolution approving the transfer of land to Tidel Park Limited. Additionally, the council has also recognized the importance of determining the precise value of the property before finalizing the handover. By estimating the land's worth, the local body ensures that both parties involved in the transaction are treated fairly and equitably. The site inspection of the Panjapur area was conducted in March 2023, and the selection of this specific location was primarily influenced by its close proximity to the upcoming integrated bus terminus.
This ambitious project, spearheaded by Tidel Park Limited, represents a remarkable opportunity for the growth and development of the IT and ITES sectors in Trichy city. With the government's substantial financial allocation and the dedication of all stakeholders involved, this venture is poised to create a modern and conducive work environment for companies operating in these industries. Furthermore, the strategic selection of the Panjapur site, taking into account its convenient accessibility to transportation hubs, will undoubtedly attract both domestic and international businesses seeking to establish their presence in Trichy.
In conclusion, the collaboration between the Trichy Corporation and Tidel Park Limited to develop a dedicated office space for the IT and ITES sectors demonstrates the government's commitment to fostering economic growth and technological advancements in Trichy city. The resolution passed by the elected council and the allocation of funds clearly indicate the importance placed on this project. By selecting the ideal location and conducting comprehensive site inspections, the urban local body ensures the suitability and viability of the chosen land in Panjapur. With all these factors in play, the future Tidel Park in Trichy is poised to become a thriving hub for innovation and employment opportunities in the region.
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