The AP government has decided to de-notify the Millennium Towers to make use of the ample space for business.
Though many companies approached for lease, it has been lying vacant all this while.
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Including Tower 1 and Tower 2, 2.08 lakh sqft has been leased in all to TCS which showed interest in occupying the space. This will provide ample job opportunities for the youth of north Andhra.
Entire Hill 3 of Vizag falls under SEZ and the officials are trying to de-notify the Millennium Towers so that they can attract big bidders.
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Meanwhile, the state cabinet has already approved the lease. TCS has promised 10,000 jobs to youth locally.
The Millennium Towers were approved by the TDP government in 2014-19 as a part of Rishikonda IT park. Four lakh sqft space was provided in both towers at a cost of Rs 145 crore.
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Tower 1 or A was inaugurated by Chandrababu in February, 2019 and 4 floors out of 10 were leased to Conduent company.
The rest of the floors were left vacant by YSRCP government as it kept things on hold wanting to make Vizag the executive capital.
Tower B or 2 was finished by APIIC in the next two years and it freed 8 floors. Though there were plans of housing stamps and registration office, the plan did not materialise.
In all, 3 lakh sqft is vacant and if it is leased at Rs 50 per sqft, it would fetch Rs 15 lakh in rents.
The Tower on Hill 3 needs to be de-notified as the companies in SEZ have to export their products 100 per cent. APIIC has already tabled a file for de-notification.
When it’s processed, it will attract more big tech companies resulting in large number of employment opportunities.
