Thiruvananthapuram: The State Government stated sanctions to rent land 2.35 hectares to Dragonstone Realty Pvt Ltd for the construction of multilevel car parking facilities on the Technopark Phase III campus.
Proposals that imagine the construction of land plus six-storey multi-level car park with a built up area of 4.5 lakh sq.ft.
The Chief Executive Technopark has previously continued the proposal submitted by Dragonstone Realty Pvt Ltd for the development of multi-level car parking facilities (MLCP) on the Technopark Phase III campus.
Along with the proposal, the draft rental of a deed for an area of 2.35 hectares for the project was also closed.
The MLCP project is being carried out to meet the projected requirements of the parking space after settlement of non-SEZ parts from the project for the use of a mixture of retail commercial zones by Dragonstone Realty Pvt Ltd and office buildings by Dorne Realty Pvt Ltd.
Currently used for car parking open surface by companies operating from Ganga-Yamuna Building from Technopark.
The land provided will be given a rent for a period of 90 years.
In accordance with the order issued by the state government, Technopark will hold a rental agreement with Dragonstone Realty Pvt Ltd for a period of 90 years to build multi-level car parking on the Technopark Phase III campus with the provisions for DNee Realty Private Limited for joint development by both companies.
The entire project costs must be fulfilled by Dragonstone Realty Pvt Ltd, while the operating costs and maintenance of the project must be met by Dragonstone Realty Pvt Ltd for “no fees for Technopark”.
Technopark will be given free use of 250 car parking slots and 100 bicycle parking slots as consideration by tenants for rent during the entire operation of a 90-year lease period.
The project must be completed within 36 months from the date of obtaining a single window permit approval and all other law agreements apply, according to the order.
The state government has directed that Technopark will obtain a de-notification notification order for the land that applies from SEZ authorities.
Alternative parking arrangements for existing users and logistics needed from the area identified to the Ganga-Yamuna building must be provided by Dragonstone Realty Pvt Ltd during the construction period.
Govt Rent 2.35 hectares for MLCP construction
