In Trichy, a resolution was passed to allocate 14.1 acres of land in Panjapur near the Trichy-Madurai national highway for the construction of Tidel Park. The previous allotment of 8.9 acres was cancelled to accommodate the Tidel management's request for a larger land parcel to build a mega office space for IT and ITES companies near the upcoming integrated bus terminus (IBT). The Trichy corporation has agreed to transfer ownership of the land to Tidel Park Limited at a cost of Rs. 282 per sqft. The construction is expected to begin in March 2024. Additionally, the council approved road improvements at the Central bus stand.
The Trichy city council has approved the allocation of 14.1 acres of land in Panjapur, located near the Trichy-Madurai national highway, for the development of an IT Park, named Tidel Park. This decision comes after the previous allocation of 8.9 acres was cancelled to accommodate the Tidel management's request for a larger land parcel to create a mega office space intended for IT and ITES companies, in close proximity to the upcoming integrated bus terminus (IBT).
In September, Tidel Park Limited had made a formal request to the Trichy corporation for an additional land allocation in Panjapur to facilitate the project. In response, the civic body has agreed to hand over the larger 14.1-acre parcel of land in Panjapur. This land transfer will be facilitated through the district administration.
The corporation has established a cost of Rs. 282 per square foot for ceding the land, indicating the financial terms of the arrangement. The commencement of construction is expected in March 2024, marking a significant step toward the realisation of the mega office space development.
Simultaneously, the local body has passed a resolution aimed at improving the road infrastructure at the Central bus stand in Trichy. The existing roads in this area are set to undergo redevelopment at an estimated cost of 1 crore. While the integrated bus terminus (IBT) is expected to serve as the primary transportation hub in the future, the Central bus terminus will continue to play a crucial role as a city bus hub. Furthermore, plans are in place to construct office spaces to house government departments within this location, serving as a multifunctional administrative hub.
In summary, the city council's decision to allocate 14.1 acres of land for the Tidel Park project reflects the commitment to accommodate the growing needs of IT and ITES companies in the region. This strategic move not only fulfils the city's broader plans for improving infrastructure and creating multifaceted administrative spaces, but also has a great scope for creating employment opportunities in the region, ultimately contributing to the city's development and progress.
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