Real Estate Scenario in Hosur
Hosur is a mere 23 km away from Electronic City, Bangalore's IT hub, and the Tamil Nadu government wants to make the industrial township a giant satellite town like Gurgaon or Noida. The Electronics Corporation of Tamil Nadu (ELCOT) has already commenced the leveling work and formation of the IT SEZ park at Hosur in 190 acres the largest in Tamilnadu. And GMR Infrastructure is planning to setup a 2600 acres of IT AND ITES and MULTIPRODUCT SEZ one of the largest in South India. The Govt. is likely to stop the TAX holiday after 2009 in India. Therefore, It will attract all the IT cos., from all over india to set up their new projects inside this Hosur SEZ, as they will get another 10 years of TAX holiday benefit. Already about 20,000 people working in Electronic city are located in Hosur. They travel daily by Pool Vehicles, Staff bus from Wipro and Mini cabs from IT co's. Hosur, he says, has been chosen as it can dovetail the strengths of Bangalore's deep talent pool and salubrious climate with Tamil Nadu's infrastructural forte and relatively inexpensive real-estate rates. Making Hosur an IT hub, however, will be a tough task. In 2003-04, when Tamil Nadu exported Rs 7,643 crore (Rs 76.43 billion) worth of software, Hosur's contribution was zilch. Tamil Nadu is keen on changing this. "We will consider building a 250,000 sq ft facility, on the lines of TIDEL Park in Chennai, at a cost of between Rs 35 crore (Rs 350 million) and Rs 50 crore (Rs 500 million). This initiative, has created a light-house effect and boost investor confidence," Harinarain says. He says the Tamil Nadu government is likely to use a private-public partnership to upgrade Hosur's present infrastructure, including schools, hospitals and shopping malls, to build Hosur into a viable satellite town. The state government will provide all supporting infrastructural requirements such as land, sewerage, electricity and water. "With a TIDEL-type park, Lots of residential complexes will be thrown in between Hosur and Bangalore. Travel time is faster outside Bangalore to Hosur rather than within the city," says K Pandia Rajan, managing director, Ma Foi Management Consultants Limited, the recruitment agency. It is not as if Hosur doesn't have anything other than its proximity to Bangalore going for it. It has been an industrial hub for more than two decades now and home to the manufacturing plants of Ashok Leyland, Titan Industries, TTK Prestige, Reckitt Benckiser, Hindustan Lever, Carborandum Universal and TVS Motors. So, the basic infrastructure is firmly in place. "Hosur's potential to become a prime outlying suburb of Bangalore, on the lines of Noida and Gurgaon for Delhi and Navi Mumbai for Mumbai, has been largely under utilised. IT majors such Infosys and Wipro are just a stone's throw away in Electronics City which is midway between Bangalore and Hosur. These companies would be wary of setting up operations in Hosur as they are already battling the Karnataka government over the lack of proper roads to Electronic City from Bangalore. If anything can stop Hosur's advances to becoming a IT super city. "Work on the Rs 400 crore (Rs 4 billion), six-lane expressway has begun in june 2007 with a deadline of 18 months to complete the project from electronic city to Hosur. However, real estate prices are 25-30 per cent lower in Hosur than in the areas of Bangalore closest to Hosur. What do the software companies think of Hosur? "We are not considering Bangalore or Hosur as of now. But assuming that we were, the primary concerns would be travel time, overheads and the cost of attracting talent," says Arun Jain, chairman and CEO, Polaris Software Lab.
For more Information on Real Estate in Hosur, Property in Hosur, Villas in Hosur, IT Park in Hosur and SEZ in Hosur Visit www.hosurproperty.com
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