Ready for Sales
Land near to Gangaikondan IT Park
15 km from Tirunelveli. There are a total of 200 plots, most of which are of 3 cents area.
An IT/ITES (Information Technology/Information Technology Enabled Services) Special Economic Zone (SEZ) / IT Park is coming up in Gangaikondan in a 500 acre area. The proposed SEZ is being promoted by ELCOT, a Government of Tamil Nadu Enterprise and will house major Software and BPO companies. The land procurement for this project has been completed and the formal approval for the SEZ has been granted in June 2007. Major companies like Sutherland Global Services, Hexaware Technologies, Syntel, AES, HOV have already taken space or applied for allocation of land within the IT Park. The ELCOT SEZ has been allocated land within the functional SIPCOT Industrial Growth Centre in Gangaikondan spread around 1400 acres.
A Transport Engineering Goods SEZ is also coming up in an area of 255 acres within SIPCOT for the manufacture of all types of tyres. This new project is being developed by SIPCOT and was formally approved on 25/02/2008. The SIPCOT complex already houses many companies like Coca-Cola, Wolkem, S S Conversion.
Gangaikondan also lies on the Madurai-Tirunelveli section of NH-7, which is part of the Four-Lane North-South Corridor Highway project connecting Kashmir to Kanyakumari.
Where is Gangaikondan?
Gangaikondan is located 15 kilometers from Tirunelveli in Southern Tamil Nadu.
45 km from Tuticorin Port
130 km from Madurai Airport
190 km from Trivandrum Airport
630 km from Chennai International Airport
Why is Gangaikondan an ideal choice for investors?
The Governments of Tami Nadu and India are currently offering incentives to industries for starting their operations in Tier-II cities like Tirunelveli. An IT/ITES (Information Technology/Information Technology Enabled Services) Special Economic Zone (SEZ) is coming up in Gangaikondan in a 500 acres area and the land allotment for the same is currently underway. STPI’s ten year tax holiday is getting over in 2009 and the companies enjoying the benefits now would like to move to SEZs to continue to avail them.
A Transport Engineering Goods SEZ is also coming up in an area of 255 acres within SIPCOT for the manufacture of all types of tyres. So the demand for housing sites in this area would only grow in the future and that makes Gangaikondan an ideal choice for investors. As the current cost of land is lower in this area compared to major cities and towns, Gangaikondan will provide a better RoI.
Who is heading the IT SEZ Project?
ELCOT, a Government of Tamil Nadu Enterprise is promoting the Gangaikondan IT SEZ project. Check out the ELCOT Web Site for more details.
http://www.elcot.in/infrastructure_main.php?count=1&link_type=1&menu2_id=142&page_id=100
Is this a SEZ Project or an IT Park Project?
Both Gangaikondan is an IT/ITES SEZ Project and is also commonly referred to as an IT Park Project.
Is Gangaikondan IT Park same as Tirunelveli IT Park?
YES. Gangaikondan IT Park is same as Tirunelveli IT Park. Tirunelveli is the nearest city to Gangaikondan and hence this project is also being called as Tirunelveli IT Park.
When is the IT Park project likely to become operational?
The project was given formal approval by the Govt. of India on 22 June, 2007.
Check out the press release of the Department of Commerce, Ministry of Commerce & Industry, Govt. of India, titled Formal approval granted to 36 SEZs; in principle approval to 9. Board of approval for SEZs meets.
http://commerce.nic.in/pressrelease/pressrelease_detail.asp?id=2082
Software and BPO Companies have already been allotted land inside the Gangaikondan IT Park and is expected to be operational by before the end of 2008. Also the STPI tax holiday is getting over in 2009, the IT companies are keen to move to SEZs before that time to continue to avail the benefits.
Who is heading the Transport Engineering Goods SEZ Project?
SIPCOT, a premier institution fully owned by the Government of Tamil Nadu is promoting this SEZ project. Check out the SIPCOT Web Site for more details, under the heading “New Schemes”.
http://www.sipcot.com/
The project was given formal approval by the Govt. of India on 25 February, 2008.
Check out the press release of the Department of Commerce, Ministry of Commerce & Industry, Govt. of India, titled BOA of SEZ grants 10 formal approvals.
http://commerce.nic.in/PressRelease/pressrelease_detail.asp?id=2225
What is the current stand of the State Government on Gangaikondan?
The current stand of the Tamil Nadu State Government on this project has been indicated in the Governor’s Address in the State Legislative Assembly on 23rd January 2008. Below are the excerpts from the Governor’s speech about this project:
37. This Government is of the firm conviction that economic development of the southern districts alone can ease
the social tensions in this region and has taken a number of initiatives for their industrial development. The
hurdles in the establishment of a Special Economic Zone in Nanguneri have been overcome and a Multi Product
Special Economic Zone will be established soon in an area of 2,500 acres.Similarly, an IT Special Economic
Zone is being established by ELCOT at Gangaikondan. ELCOT is also developing IT Parks in and around Madurai. Land
has already been allotted to IT Companies both in Gangaikondan and Madurai. It is expected that these initiatives
will generate large scale employment to the unemployed educated youth in this region and will contribute to the
economic development of the region.
Check out that complete speech at Governor’s Address in the Legislative Assembly on 23rd January 2008 and look for Point Number 37.
http://www.tn.gov.in/tnassembly/Governors_address_Jan2008_2.htm
For further details feel free to call me.
Thanks,
Naveen,
Bangalore.
+91 98869 85954.
Posted May 14, 2008 
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