Kerala govt to lease 2.35 acres of land for MLCP development

20 Jan 2022 CW Team

The Kerala state government is set to lease 2.35 acres of land to Dragonstone Realty Private Limited for developing a multi-level car parking (MLCP) facility in the Technopark Phase-III campus.

The construction proposal includes the construction of a ground plus six-floor MLCP facility, having a built-up area of 4.5 lakh sq ft.

Previously, the chief executive officer of Technopark forwarded a proposal submitted by Dragonstone Realty for developing an MLCP facility in the Technopark Phase-III campus. Besides the proposal, a draft lease deed of 2.35 acres of area for the project was also enclosed.

MLCP will be implemented to cater for the need for parking space after completion of the Non-Special Economic Zone (SEZ) part of the project for retail and commercial use by Dragonstone Realty, while the office building by Dorne Realty Private Limited.

Currently, the land is used for ground surface open car parking space by the companies operating from the Ganga-Yamuna building of Technopark.

The land allotted will be given on lease for 90 years. According to the order by the state government, Technopark will enter into a lease agreement with Dragonstone Realty for 90 years to construct an MLCP facility in its Phase-III campus, with a provision to sub-lease for Dorne Realty for joint development by both companies.

Technopark will be given 250 car parking slots and 100 bike parking slots for free as a consideration by the lessee for the lease during the period of operation.

The MLCP project is expected to complete in 36 months after obtaining single-window clearance approval and all other statutory approvals.

Alternative car parking facilities for the existing users and logistics from the identified area to the Ganga-Yamuna building should be provided by the company during the construction.

Image Source

Also read: Kerala govt plans to create two SPVs for SilverLine - Construction ...

Also read: Half of smart road works in Thiruvananthapuram to be completed by ...

The Kerala state government is set to lease 2.35 acres of land to Dragonstone Realty Private Limited for developing a multi-level car parking (MLCP) facility in the Technopark Phase-III campus. The construction proposal includes the construction of a ground plus six-floor MLCP facility, having a built-up area of 4.5 lakh sq ft. Previously, the chief executive officer of Technopark forwarded a proposal submitted by Dragonstone Realty for developing an MLCP facility in the Technopark Phase-III campus. Besides the proposal, a draft lease deed of 2.35 acres of area for the project was also enclosed. MLCP will be implemented to cater for the need for parking space after completion of the Non-Special Economic Zone (SEZ) part of the project for retail and commercial use by Dragonstone Realty, while the office building by Dorne Realty Private Limited. Currently, the land is used for ground surface open car parking space by the companies operating from the Ganga-Yamuna building of Technopark. The land allotted will be given on lease for 90 years. According to the order by the state government, Technopark will enter into a lease agreement with Dragonstone Realty for 90 years to construct an MLCP facility in its Phase-III campus, with a provision to sub-lease for Dorne Realty for joint development by both companies. Technopark will be given 250 car parking slots and 100 bike parking slots for free as a consideration by the lessee for the lease during the period of operation. The MLCP project is expected to complete in 36 months after obtaining single-window clearance approval and all other statutory approvals. Alternative car parking facilities for the existing users and logistics from the identified area to the Ganga-Yamuna building should be provided by the company during the construction. Image Source Also read: Kerala govt plans to create two SPVs for SilverLine - Construction ... Also read: Half of smart road works in Thiruvananthapuram to be completed by ...

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Infrastructure Energy

06 Apr 2026

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

Real Estate

06 Apr 2026

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..