The Rs 240 crores Olympia Park is located at Guindy in 8.4 acres of land which once belonged to Eveready Industries Ltd. Olympia Park will have 1 million sq feet area. The project which started in 2004 is nearing completion.

Khivraj Tech Park Pvt Ltd, which owns the Olympia Technology Park, an information technology park in Chennai, has capitalised on the rising demand for incubation space. Two key requirements of IT and BPO companies are flexibility and scalability which are taken care by the incubation space provided by Khivraj.

Khivraj Tech Park Pvt Ltd, which owns the Olympia Technology Park, an information technology park in Chennai, has capitalised on the rising demand for incubation space. Two key requirements of IT and BPO companies are flexibility and scalability which are taken care by the incubation space provided by Khivraj.

Most IT companies start small and grow up as their project takes off. A company would lease incubation space for about 10 months for 500 seats and then go up to 2,000 seats in a year’s time when the full-fledged office space is ready.

Khivraj Tech Park Pvt Ltd the promoter of Olympia Park had invested Rs 16 crore to lease and fit out four incubation centres in the city. The first centre in T. Nagar, which was 42,000 sq ft, cost Rs 33 per sq ft and was able to rent it to an international telecom company at Rs 70 per sq ft.

The incubation space venture for the company has has resulted in tying up the clients for the project as well as funds for developing the second and third phase.

The company plans to set up two more IT parks, one in Pallavaram and other on the Old Mahabalipuram Road.

The two pictures of Olympia Park was shot on August 19, 2006.

(with inputs from www.thehindubusinessline.com)