In a recent development towards the Technocity project, Government finalizes the price of Technocity land.An extent pf 245.89 Acres of land of Pallippuram, Melthonnakkal, Andoorkonam and Veiloor Villages in Thiruvananthapuram Taluk is under acquisition by invoking Fast Track Project for the establishment of Technocity as Phase IV development of Technopark. The above land has been classified into ten categories. Cabinet which met on 29.12.09 approved the price for the said land which was recommended by the State Level Empowered Committee headed by the Chief Secretary.
The Technopark proposes to purchase the land by availing loan from Consortium Banks namely Central Bank of India, Indian Overseas Bank, Bank of India and State Bank of Travancore. The full fledged development of Technocity project as an Integrated Township will create employment opportunities directly to about fifty thousand technical personnel and indirectly to about two lakh persons. The Government has already finalized the rehabilitation package for the evicts of Technocity project area. The take over of the land will be through the revenue department. Technopark will make instant payment for land owners coming for sale though sale deed.