A little while back, a plan was made to create an IT signature tower, a project that would be worth Rs 500 crore, at Rushikonda Hills in Vishakhapatnam. This very expensive project, led by the Andhra Pradesh government, was delayed for two months with its initial foundation date being in March.
Reports suggest that Jones Lang Lasalle (JLL), a property management company, has been selected for the development of the conceptual design of the IT signature tower, however, the final developer for the project is yet to be decided. While an accurate cost estimation for the project cannot be done at this stage, it is said that the project will charge Rs 500 crore approximately.
A senior official of the IT department let us know that the company JLL is currently designing the project outline, which also includes some additional facilities possibly required around the towers, and said that as soon as the design and revenue model of the project are completed, tenders for the developer will be invited.
