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MTNL to develop 80,000-sq m IT park in Noida
Telecom service provider MTNL is planning to develop a 80,000-sq m IT park in Noida, a suburb of New Delhi, say sources. For the development of the IT park, sources add, the telecom service provider has already identified a consortium of developers.
Telecom service provider MTNL is planning to develop a 80,000-sq metres IT park in Noida, a suburb of New Delhi, say sources. For the development of the IT park, sources add, the telecom service provider has already identified a consortium of developers.
MTNL will take 18 months time to develop the IT park, which will come up in Sector-62, Noida.
The telecom service provider is also in the process of identifying developers for other lands in Delhi and Mumbai, add sources.
The land in Mumbai is bigger; believed to be over 1 lakh sq metres in area.
Sources add, in the MTNL's Noida IT park, the developers will not have any stake. It is learnt that there may be a revenue sharing between the telecom service provider and the developers.
Sources add that MTNL has no plans to hive off its land bank into a separate company. So, the revenue accrued from the IT park business may go to the listed telecom service provider company.
In the Noida-62 area, where MTNL is going to set up the IT park, the rentals prices are quoted in between the range of Rs 55-60 per sq ft. Other developers like DLF and Unitech are also developing IT Parks in the same area Noida-62.
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