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|March 23, 1998||
Software puts pressure on TN real estate
The real estate demand for software companies in Tamil Nadu has been pegged at 300,000-400,000 square feet per annum.
The figures, provided by Venture Management Associates, an IT consultancy company from Thiruvananthapuram are not final. But, considering that the company is high on the list of likely contenders to do a "market estimation and project feasibility" study being done for the Tidel software park, the joint venture between TIDCO and ELCOT by the Tamil
G Vijaya Raghavan, President, VMA, and a former chief executive officer of the Thiruvanantapuram-based Technopark, pointed out that most software companies are growing at the rate of at least 30 per cent, demanding about 100 square feet per person. So a company with 200 employees will need about 20,000 square feet of built-up software space.
The study, spread over three-four months, will estimate the demand for built-up software space all over the country and see Madras's position. This is important before investment decisions are taken and financial institutions are approached for funds, said TIDCO officials.
A study of this nature is necessary, keeping in mind the target that Tamil Nadu plans to provide about one million square feet of software space over a year-and-a-half, and the plan of other state governments to provide more IT parks.
According to sources, the Chairman, Tamil Nadu Electricity Board, and the Director of Industries, Tamil Nadu, have written letters expressing their apprehension over the Tidel park and the Cybercity project near Madras.
Quizzed on this issue,. Raghavan said the Tidel park was a short-term solution and the Cybercity was a long-term one.
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