TechnoCity Trivandrum expected to generate 50000 jobs
Technocity – the fourth phase of Technopark is expected to generate around 50,000 direct jobs and around 2 lakh indirect jobs. Technocity is planned to be a complete IT city, spread across 500 acres, which includes not just space for IT/ITES companies, but also residential, commercial, hospitality, medical and educational facilities supporting the IT population.
Government of Kerala has completed the formalities for acquisition of land for the Technocity project. Up on the cabinet approval for the price of land, the acquisition was completed by the Revenue Department. The land is spread across Pallipuram, Melthonnakkal, Andoorkonam and Veiloor villages in Trivandrum district.
Government of Kerala has already finalized the rehabilitation package for the evictees of Technocity project area. Technocity project is planned as a self-dependent satellite city of Trivandrum that would not strain the resources and infrastructure of the city.
Technocity project would also aim for investments in biotechnology, nanotechnology, high-end manufacturing and R&D. The project will be developed through multiple special purpose vehicles (SPVs) in association with private participants as well.
Since the major obstacle of land acquisition is now over the Technocity project will be completed in a fast pace. Technocity project is coming up at Pallipuram, suburbs of Trivandrum city and within around 10 Km from the Technopark. Once completed, Technocity will become the largest IT city in India.