Indore: Indore Development Authority (IDA) has decided to construct state's first 25-storeyed building at Super Corridor at cost of Rs 300 crore. The building will have helipad on its roof top and six-storeyed parking.
The IDA's board of directors cleared this proposal at the meeting held on Wednesday. After the meeting, IDA chairman Shankar Lalwani told mediapersons that the commercial building would be constructed on three-acre plot at TCS Square at Super Corridor.
Kumar Purushottam, IDA CEO, said Authority is in process of bringing development bond of Rs 500 crore to develop Super Corridor. Out of this amount, Rs 300 crore would be spent on building construction.
"We have unsold property of worth Rs 4,000 crore, which will strengthen our brand value," Purushottam said. He expressed hope that muliti-national companies and blue chip PSUs may set up offices or invest in city because of the building, which will have world class facilities and will be constructed near airport.
The project report is ready and IDA will float tender soon. The construction of the building is likely to start in six months and will be completed in two and a half years.
Salient features of 25-storeyed building
IDA's other decisions