Keonics chairperson Sharath Bachegowda
Credit: DH Photo
Bengaluru: Keonics, the government’s IT services provider, has roped in top realty consultants to monetise its land parcels in five locations where 2.43 million sqft of prime space will be developed for plug-and-play infrastructure catering to tech companies.
Keonics, or the Karnataka State Electronics Development Corporation Ltd, is looking at developing IT parks and commercial office spaces in a first-of-its-kind plan by monetising its assets in Devanahalli, Mysuru, Mangaluru, Hubballi and Kalaburagi.
“Earlier, the Software Technology Parks of India (STPI) used to set up facilities in tier-2 and 3 cities to breathe life there. With STPI having run its course, we want to use our assets in tier-2 and 3 cities to create nucleus points for technology and business activities,” Keonics chairperson Sharath Bachegowda, the Hoskote MLA, told DH. Keonics has appointed realty consultants JLL and CBRE for hand-holding with monetisation of land.
In Devanahalli, Keonics has about 12 acres of land allotted to it on a 99-year lease at the Defence & Aerospace Park. “The property has potential to have nearly 1.8 million sqft of leasable area which will be a gamechanger in this fast-growing region, which has started to witness a flurry of activities,” Bachegowda said.
In Mysuru, Keonics is using a 3-5-acre land parcel that has a potential of 3 lakh sqft for an IT park. This is within the Hebbal industrial area.
At Hubballi, Keonics is working on commercial office development on a built-up area of 74,000 sqft. This is near the airport along Gokul Road.
Another IT park is being developed at Mangaluru. Bachegowda called this an “ambitious project” that will have 2.6 lakh sqft of built-up area on a land parcel measuring 3.25 acres located in Yeyyadi along Blueberry Hills Road.
The plan for Kalaburagi is to develop a flatted factory facility catering to electronics and related industries.
Bachegowda said Keonics wants to set up “premium quality” office spaces that can be used by small global capability centres (GCC) and fintech firms.
“We are exploring public-private partnership or joint development. We don’t want to build a building and say goodbye. We want to tie up with firms to see to it that there are operations,” Bachegowda said.
Keonics will also use its assets to house exam centres and skill development facilities, Bachegowda added.