Lulu Group Infopark Investment

Q: Hey will the Lulu Group investment in Kochi's L & T techpark be beneficial for property investors in Kakkanad?

Vineet David, Kochi

31st July 2014

Real estate News in Kakkanad, Kochi

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l&t tech park investment

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They are moving real fast, they already laid the foundation stone for the next IT building - the Rs 400 cr Lulu cyber tower 2. When this is completed, we can expect around 11,000 new jobs to be created.

Allen George, Kochi

18th September 2014

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Did you guys know that the name of the building has been changed after the Lulu grp acquired it? Yeah earlier the L&T IT building used to be called Tejomaya, but now the name is Lulu Cyber Tower 1.

Amal Anthony, Kochi

18th September 2014

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With any major investment especially one involving 350 crores, there are bound to be changes in the entire locality. Kakkanad is already quite well developed and now the plan will be to make it bigger and better worth lots more money. There are going to be new schools, hospitals, supermarkets and malls. There will be a check on the civic facilities in the area and a lot of repair work would be going on. This is only done because of the sudden increase in population but that usually happens wherever there are huge IT parks such as this. Investing here is a very good idea. It's a given that this is a prime location and property appreciation will definitely happen in the near future.

Aadesh Chacko, Kochi

31st July 2014

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So what Lulu Group wants to do after the acquisition is expanding on the space and adding another 9 lakh square feet worth of space around the entire info tech park area. The project proposal they are planning on submitting in a week so they can get all their permits and clearences. After which the project will only start by sometime in the middle of next year. From that time, it is said to be completed in 3 years. But the project is said to give lots of employment at least for 13,000 to 15,000 people. Real estate and property value in the area will suddenly shoot up and many infrastructural projects like widening of roads, new hospitals and so on will creep up in the area because of more demand. This locality is a great place to invest in.

Smitha Ravi, Kochi

31st July 2014

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I think the basic point of Lulu Group's M.A Yusuf Ali's idea for investing in L & T tech park was to increase the sale of commercial space that would ultimately generate a lot of employment. The Lulu Group investment of Rs 350 crores is what they recently acquired from 150 crores at L & T tech park and this investment will hopefully improve trending IT companies in the city. Lulu is even proposing a name change for L&T Tech Park to Lulu Tech Park Limited. As of right now, L&T has a four lakh sq ft IT building called Tejomaya in its 7.44 acre campus at Infopark. Tejomaya has a number of companies like TCS, IBS and Arbitron Inc. Looks like this investment is going to be beneficial for the entire locality!

Sreekutty Nair, Kochi

31st July 2014

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