Curation Team
KOCHI: In a big boost to Kochi’s IT sector, the state govt granted in-principle approval to set up Infopark Phase III campus on more than 300 acres in Kunnathunadu taluk.
Infopark authorities proposed the third campus as Phase I and Phase II are operating at full capacity. Greater Cochin Development Authority (GCDA) had started discussions for land pooling, but the project got delayed as the IT department did not give the necessary clearances.
The “in-principle approval was issued to Infopark to proceed with the Phase III project consisting of 300 plus acres in the district to create an integrated township,” said the order issued by the Electronics and Information Technology Department. The IT-integrated township will include residential, commercial, sports and medical facilities.
As per the order, Infopark will enter into a memorandum of understanding (MoU) with the GCDA and begin preparatory activities for land pooling. These initial activities include feasibility studies, stakeholder consultations, preliminary surveys, master planning and the preparation of detailed project reports. Infopark will provide the necessary funds for these activities. Infopark will be the project’s owner agency while GCDA will implement the land pooling scheme on its behalf.
GCDA and Infopark will jointly furnish a detailed proposal to the govt within one year after completing the formalities of land pooling.
“Infopark shall urgently complete the process of bylaw amendment and conversion into a company” as “the new corporate structure as a company will legally enable it to own, develop and manage such a large-scale commercial project and enter into the necessary contractual IT agreements for the land pooling scheme,” the order says.
The land pooling method is a collaborative approach where landowners voluntarily pool their land parcels together to form a larger area, typically for planned urban development. Under this system, the landowners transfer development rights of their individual plots to a designated authority or agency. This authority consolidates the pooled land, undertakes necessary infrastructure development and redistributes a certain percentage of the land back to the owners with enhanced value, typically in the form of developed plots. Thus, the landowners retain ownership of a certain percentage of the developed land.
The order says Infopark has been crucial in advocating for the land pooling model to the govt and will continue to work closely with the GCDA and other stakeholders to advance the project.
Infopark CEO Sushanth Kurunthil told TOI that all the hurdles for the project had been cleared with the new order and Infopark would soon sign an MoU regarding the project with GCDA.
