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Maytas Properties To Develop Three IT SEZs
Posted by Srini Uppala | July 13, 2008 | 755 views
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Loading ...Maytas Properties, a real-estate infrastructure company backed by the promoters of Satyam Computer Services, has lined up three IT special economic zones (SEZs) in the State capital in a total extent of 148 acres.
These three SEZs would have an aggregated built up area of 16.5 million sq ft. “All these SEZs would have residential projects, retail space and other enabling facilities as part of the projects,” Mr K. Thiagarajan, Chief Executive Officer, told Business Line.
The first SEZ would come up at the company’s flagship project Hill County being taken up at Bachupally. Hill County would have a range of apartments, bungalows and villas.
“We have started work on this project and expect to deliver the developed spaces in the next few months. With regard to the space in the SEZ, we have initiated talks with several multi-national companies for housing their office there,” he said.
The other two SEZs would come up at Mysammaguda (35 acres) and Gopanpally (39 acres) in different parts of the State capital. The latter one abutted the Financial District near Gachibowli, where a host of IT, ITES and financial services majors located their offices. These two SEZs would have a built up area of 4 and 4.5 million sq ft respectively.
Warehousing plans
The company, which received a private equity funding of Rs 600 crore from Infinite India Investment Management in February 2008, is also planning to build warehousing facilities in Hyderabad. The projects are also being planned, keeping in mind the walk-to-work concept, wherein residents could just walk down to reach their offices.
Apart from these projects, the company has acquired land in Bangalore, Chennai, Vijayawada and Visakhpatnam.
“For now, we are going to focus on the South. In Chennai, we are coming out with a mixed use project (comprising commercial, retail, hospitality and residential spaces) on the Old Mahabalipuram Road. We have also acquired a land parcel in Nagpur,” he added.
SOURCES:
The Hindu
Topics: SEZ, Information Technology, Real Estate |
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