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Tier 2 and 3 cities Tamil Nadu The post-pandemic has attracted a large number of IT/ITES majors, leading to a push by office space providers to expand their footprint across the state.
The state government has also recently announced a Tidal Park. maduraiOoty, Vellore, Tiruppur, Villupuram, Tuticorin, Salem and thanjavuri,
Cheaper fares, often half the rate in metropolitan cities, and fewer employees despite lower wages, as employees are in or near their hometowns, are beneficial to companies and their employees. The pandemic has intensified this infection.
Post-COVID, it has become important for professionals to stay close to their roots and prioritize mental health and quality of life. Hence, IT companies have to move to find talent instead of hiring employees.
For example, Accenture opened an advanced technology center in India coimbatoreTidal Park. Infosys recently set up a center in Coimbatore as part of its plan to set up micro-hubs across the country. Global IT firm 3i Infotech also launched its first Center of Excellence for Oracle Applications Development in Tirunelveli. The company says the talent in tier-3 cities is on par with metros, if not better.
Bevywise Networks, an IoT startup launched in 2016, serves over 50 customers globally, with its entire product/engineering team based in Tirunelveli. Founder and CEO Ranjit Kumar says he has seen cost savings 1.5 times compared to any other company Chennai, and the short travel time enriches the quality of life for his team. “In terms of emerging technology, there is a need for post-hiring freshers in Chennai and other metros as well, and we do the same,” he says.
Bengaluru-based 315Work Avenue, a coworking space provider, is entering the Tamil Nadu market with simultaneous presence in Chennai, Coimbatore and Madurai. The firm plans to offer around two lakh square feet of space in the next six months, of which one lakh square feet will be in Coimbatore and Madurai. Incuspase, a chain of premium enterprise-managed office spaces, is opening in Coimbatore with around 14,000 sqft, designed for IT companies.
Managed office and coworking space provider Work Easy Space Solutions Pvt Ltd is operating one lakh sq. ft. in Coimbatore, Tenkasi, Madurai, Salem and. Trichy for the next nine months to a year. Prathap Murali, WorkEZ Head of Business, says, “If the average rent per sq ft in Chennai is ₹60-₹65, it is ₹30-₹35 per sq ft in Tier 2 and 3 locations. Many of our customers in Chennai We want solutions for our employees, who want a hub and spoke model in these cities,” he says.
The state government’s Elkot IT-SEZ parks are also benefiting from increased bookings for their new IT parks and those under construction in Coimbatore, Trichy and Madurai. However, the existing ones, especially in cities like Hosur and Tirunelveli, have only 10%-20% occupancy level. TOI sources said transportation and other infrastructure around these IT parks has been weak, forcing companies to approach private tech park operators in the heart of towns. However, Ajay Yadav, MD, Elcott, says that Hosur and Tirunelveli generally show interest in small tech firms with less than 50 employees and therefore IT parks in these two cities are being revamped to set up plug and play facilities. being done.
Anuj Puri, Chairman, Anarock Group, said, “Tamil Nadu is witnessing a boom in infrastructure development in Tier 2 and 3 cities, which has made them the preferred destination for IT/ITES investments. “What works in favor of many of these Tier 2 and 3 cities is the presence of infrastructure (either already functional or soon-to-be-operational), affordable real estate costs and relatively cheap human resources. Total Overall, the set-up cost for companies in Tier 2 and 3 cities, which includes real estate and human capital, is 20%-30% cheaper than in Tier 1 cities,” he says.
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