Chennai-based real estate promoter for the
information technology industry, RR Industries, inaugurated its RR Tower III --
a 1.6 lakh sq ft technology park built at a cost of Rs.35 crore.
Mr Kiran Karnik, President, National Association
of Software & Services Companies (Nasscom), inaugurated the building in the
Guindy industrial estate.
The company also announced the commencement of
its next project, RR Tower IV -- a 2.5 lakh sq ft IT complex in Guindy to be
constructed a cost of Rs.60 crore. RR Industries plan to add 4.2 lakh sq ft of
IT space in Chennai by end-2005.
The company plans to construct a technology park
at Sholinganallur on Old Mahabalipuram Road, the IT corridor. It has already
bought five acres land for Rs.10 crore, and plans to invest Rs.120-140 crore for
the 5-7 lakh sq ft construction. It is also planning a similar facility in
Ambattur by mid-2006.
R.R. Industries launched its first project in
1997, RR Tower I, with a built-up space of 40,000 sq ft. The property was leased
to Alcatel. It then launched R.R. Tower II with 80,000 sq ft, and Alcatel took
up additional space in the facility.