RR Industries, Chennai, with four IT parks covering 6 lakh sq. ft in all, has drawn up plans to create a 22 lakh sq. ft IT park -- RR Info Park -- at Ambattur. RR Skyline at Ambattur Industrial Estate will be a 24-storey structure with a built-up space of 22 lakh sq. ft, of which 4 lakh sq. ft will be exclusively for car parking. RR will spend Rs 5,100 million in two years on the project.
This project is coming up in an area which so far has not been on the IT map of Chennai. "Ambattur, which is in the north, is considered to be outside the city though it comes under the CMDA region. It has all along had enough residential occupation unlike the IT corridor which has very little residential availability," says R. Ravi, CEO and MD, RR Industries.
Talking about demand for the project, Ravi says the company has already signed up for leasing 3 lakh sq. ft and hopes to sign another 7 lakh sq. ft in the next two months. The cost of fully furnished space would be anywhere between Rs 2,400 to 3,000 a sq. ft.
RR Info Park has identified 165 grounds of land located in Ambattur Industrial Estate. "Ambattur estate is the only place where you can get 10 to 25 acres of land which is developed with no doubts about the ownership. Also, the industrial estate has taken up a Rs 60 crore modernisation project" adds Ravi.
RR is also developing 4 lakh sq. ft at Guindy which is slated for completion in June next year.