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RR Tower III inaugurated, Tower IV launched

Wednesday, 04 May 2005
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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.

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