The slowdown in the IT sector does not seem to have much impact on real estate developments meant for the IT and IT-enabled services companies. According to the market analysts, around 30 per cent of new constructions in the suburbia of Gurgaon and Noida are being targetted at such companies.
Unitech, in collaboration with Singapore Consortium, is developing one such project in Gurgaon. The Rs 25-crore project, called Infocentre, is to be developed over an area of three acres and is specifically targetted at IT and IT-related services companies.
Infocenter is being developed inside the Infocity project, which again is a joint venture among Unitech (30 per cent), Singapore Consortium (40 per cent) and Haryana Urban Development Authority (30 per cent). The project will have a twin tower model over a single-level basement with approximately a covered area of around 1,36,000 square feet. The towers, which will be connected to each other by an atrium, will have a covered area of approximately 68,000 sqft each. They will have four floors each with a maximum of six offices in each of them.