Residential Plots For Sale near Tirunelveli IT Park / Gangaikondan SEZ in South Tamil Nadu

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Where is Gangaikondan?

Gangaikondan is located 15 kilometers from Tirunelveli in Southern Tamil Nadu.

45 km from Tuticorin Port
130 km from Madurai Airport
190 km from Trivandrum Airport
630 km from Chennai International Airport

Why is Gangaikondan an ideal choice for investors?

The Governments of Tami Nadu and India are currently offering incentives to industries for starting their operations in Tier-II cities like Tirunelveli. An IT/ITES (Information Technology/Information Technology Enabled Services) Special Economic Zone (SEZ) is coming up in Gangaikondan in a 500 acres area and the land allotment for the same is currently underway. STPI's ten year tax holiday is getting over in 2009 and the companies enjoying the benefits now would like to move to SEZs to continue to avail them.

A Transport Engineering Goods SEZ is also coming up in an area of 255 acres within SIPCOT for the manufacture of all types of tyres. The setting up of this project in Tirunelveli district will encourage other investors to locate their projects in the southern districts to which the government accords high priority. So the demand for housing sites in this area would only grow in the future and that makes Gangaikondan an ideal choice for investors. As the current cost of land is lower in this area compared to major cities and towns, Gangaikondan will provide a better RoI.

Who is heading the IT SEZ Project?

ELCOT, a Government of Tamil Nadu Enterprise is promoting the Gangaikondan IT SEZ project. Check out the ELCOT Web Site for more details.

Is this a SEZ Project or an IT Park Project?

BOTH. Gangaikondan is an IT/ITES SEZ Project and is also commonly referred to as an IT Park Project.

Is Gangaikondan IT Park same as Tirunelveli IT Park?

YES. Gangaikondan IT Park is same as Tirunelveli IT Park. Tirunelveli is the nearest city to Gangaikondan and hence this project is also being called as Tirunelveli IT Park.

When is the IT Park project likely to become operational?

The project was given formal approval by the Govt. of India on 22 June, 2007.

Check out the press release of the Department of Commerce, Ministry of Commerce & Industry, Govt. of India, titled Formal approval granted to 36 SEZs; in principle approval to 9. Board of approval for SEZs meets. Software and BPO Companies have already been allotted land inside the Gangaikondan IT Park and is expected to be operational by before the end of 2008. Also the STPI tax holiday is getting over in 2009, the IT companies are keen to move to SEZs before that time to continue to avail the benefits.

Who is heading the Transport Engineering Goods SEZ Project?

SIPCOT, a premier institution fully owned by the Government of Tamil Nadu is promoting this SEZ project. Check out the SIPCOT Web Site for more details, under the heading "New Schemes".

MoU for this project was signed on 30/06/2008 by ATC Tires Pvt Ltd, a new entity formed by Yogesh Agencies & Investments Ltd and Warburg Pincus, a US-based fund and a global leader in private equity industry, after the takeover of Alliance Tire Company Ltd of Israel. According to an official release, ATC Tires would be investing Rs 300 crore in three years and another Rs 100 crore in the fourth and fifth years. This project would employ about 1,000 persons directly and another 800 indirectly.

The project was earlier given formal approval by the Govt. of India on 25 February, 2008.

Check out the press release of the Department of Commerce, Ministry of Commerce & Industry, Govt. of India, titled BOA of SEZ grants 10 formal approvals.

What is the current stand of the State Government on Gangaikondan?

The current stand of the Tamil Nadu State Government on this project has been indicated in the Governor's Address in the State Legislative Assembly on 23rd January 2008. Below are the excerpts from the Governor's speech about this project:

         37. This Government is of the firm conviction that economic development of the southern districts alone can ease
         the social tensions in this region and has taken a number of initiatives for their industrial development. The
         hurdles in the establishment of a Special Economic Zone in Nanguneri have been overcome and a Multi Product
         Special Economic Zone will be established soon in an area of 2,500 acres.Similarly, an IT Special Economic
         Zone is being established by ELCOT at Gangaikondan. ELCOT is also developing IT Parks in and around Madurai. Land
         has already been allotted to IT Companies both in Gangaikondan and Madurai. It is expected that these initiatives
         will generate large scale employment to the unemployed educated youth in this region and will contribute to the
         economic development of the region.
         

Check out that complete speech at Governor's Address in the Legislative Assembly on 23rd January 2008 and look for Point Number 37.

Where can we get the latest News about Gangaikondan SEZ?

News is available in various news sites and we have compiled some news from the online / print media. Click on the image to enlarge:

Where is Green Valley?

Green Valley lies on the Seevalaperi-Tutucorin Road and is within 3.5 km from the Gangaikondan SEZ/IT Park & NH 7 and less than 1 km from the Gangaikondan Railway Station / Gate.

What is the size of the Project?

Green Valley has been developed in an area of around 8.5 acres and consists of 182 Plots (mostly 3 cents each).

Is this an Approved Project?

Yes. Green Valley has been approved by the Village Panchayat.

When I buy a plot, where should the registration be done?

In Gangaikondan. The registration always must take place in the corresponding registration office assigned for the location of the property. In case one cannot come there for the registration, they can appoint some trustworthy friend or relative as Power of Attorney and they can do the registration. The Sale Deed would still be in the buyer's name and would be signed by the Power of Attorney.


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