Coimbatore Tidel Park to be ready by september 2009

Tidel Park in Coimbatore is expected to be ready for occupation by September 2009.

According to an official source, the park, which is a joint venture of the Electronics Corporation of Tamil Nadu, Tamil Nadu Industrial Development Corporation, Software Technology Parks of India and Tidel, will offer warm and fit-out shells for occupation on short-term and long term lease.

Chief Minister M. Karunanidhi laid the foundation for the park here in February 2007. With the construction rates escalating, the project cost was recently revised to Rs. 370 crore (from the earlier projection of about Rs. 335 crore) and works had started at the site.

The official told that the park would have a total built-up area of 17 lakh sq.ft. Of this, the IT floor area would be 9.14 lakh sq ft. Office space would be available in various modules in each floor for a lease period of three to 15 years. Booking of space had just commenced and the initial offer was Rs. 30 a month for a sq ft in the case of short-term lease and an one-time payment of Rs. 3,600 a sq ft for the 15-year lease.