Rahejas to lease Nashik's IT Park

The Raheja Group, Mumbai-based construction company, is reportedly planning to lease the IT Park in Nashik, developed by Maharashtra Industrial Development Corporation (MIDC).

The group is likely to enter into an agreement with MIDC next week in this regard.

In order to promote the IT industry, the Maharashtra government had set up several state-of-the-art IT parks in the state, including one in Nashik.

The Nashik park, situated at Ambad, was developed around four years ago. But it was lying vacant since then as not a single IT company showed interest in setting up shop there.

"The company's talks with MIDC officials were successful, and it is expected to sign an agreement with the corporation in this regard next week," said sources close to the development.

However, the sources did not divulge details about the actual plans of the group, and whether the company would be leasing only the park building or the vacant IT plots too.

The IT Park was developed on 7.52 hectares of land with as many as 28 plots of different dimensions ranging from 500 sq metres to 5,500 sq metres.

The three-storeyed IT park building, which includes 15 galas, was built on a 0.64 hectares of land including a construction area of 3,075 sq metre.

Nashik is one of the fastest developing cities and is emerging as a major IT destination as the IT industry has come to a saturation point in Mumbai and Pune.

Due to the city's proximity to both Mumbai and Pune, Nashik is attracting of both IT companies and real estate firms. WNS Global Services, a non-voiced business process outsourcing (BPO) firm, has already set up its base here by opening two units.

Another BPO firm, Tricom India, has set up its third unit in Nashik and is planning to expand it in the next 12 or 18 months. Other 17 software companies have also started operations in the city.

Foreseeing a rise in demand for land on the heels of the IT boom, a number of real estate companies across the country are flocking to the city.

Pune-based leading construction company, Vascon Engineers, has already announced its plans to set up an IT Park here, in association with Nashik-based Sanklecha Constructions, at an investment of Rs 130 crore.

One of the leading construction companies based in Nashik is also planning to set up an IT Park and has already identified the land for the purpose.