Private equity fund and developer IREO is building an 11 mln sqft IT SEZ on 67 acres of land in Gurgaon’s Golf Course Extension Road area. The project is expected to cost of Rs 3,000 cr and will be executed over the next 5-7 years. In the first phase, it has started construction of a 1.2 mln sqft building that will be completed in just 12-15 months at a cost of Rs 300 cr. IREO claims these buildings are going to be 100% earthquake proof because of use of the base isolation technology which will allow the building’s foundation to slide and thus absorb the impact in case of an earthquake ensuring that the building remains usable even after a strong tremor.
To finish the building in 12-15 months, IREO is setting up a plant on site to manufacture pre-casted walls, which will have insulation sandwiched between two layers to provide permanent protection. Using these technologies, however, will make the buildings almost 30% more expensive to build compared with normal buildings, said Ramesh Sanka, chief executive officer of IREO.
“But with the technology being used, each of the floor plates will have 30% more usable space.” For its first building at the campus, the company has tied up for 100% solar power with a 9 MW third-party dedicated solar farm spread over 40 acres in Haryana. The building will also have 600 KW rooftop solar panels. “We will be connected to the grid but only solar power will be used for these office buildings,” he said. “More solar power will be tied in for the other buildings in future.”
IREO intends to make these buildings a technologically advanced with sensors in escalators, LED lights, a high tension chiller to save on power, a double glass facade, air filters, escalators along with elevators and 100% rain water harvesting. It will also not use cooling towers for the air conditioning instead using geothermal cooling .Since this will be a 100% earthquake proof building, Sanka said it will open up new business opportunities from data centre businesses.
“So far, such data centre businesses in India have only made base in south India as north Indian cities in seismic zone 4 were not well suited. We can cater to those businesses in this campus,” he said.