The country's largest private IT park developer — the Hyderabad-based My Home Constrictions Pvt. Limited — has set up plans for a 30-35 million square feet project for Kokapet that will cost about $2 billion.

Range of Activities

A SrinivasaRao, CFO of My Home Constructions Private Limited, informed that the commercial project will be associated with a range of SEZ, non-SEZ development activities, MICE(meetings, incentives, conferences and exhibitions)-related activities, hotels, retail and entertainment facilities, spread over 80 acres of land. It will be developed over an 8-10 year period.

Rao stated that it would be the most-costly project ever in Hyderabad and be designed in line with Gurugram's Cyber Hub developed by DLF as a premium business district.

Development

The developerhas engaged architects from Singapore, Hong Kong and South Korea. The first phase will begin in June of this year, with a construction of 4-8 million square feet. The site has begun the earthwork excavation and the builder has requested for different approvals from authorities which should be obtained by May.

Rao added that in the initial plans, only approximately 60-64 acres are being developed.Although the group hasn't roped in any development partners, as did the RMZ Group in Madhapur for the Sky View project, Rao said that they are open to individual and multiple project partnerships.

In residential and commercial projects, My Home Group has developed 24-25 million sq.ft and has another 11-12 million sq.ft, including the 1.1 million ft Twitza project in the pipeline. This includes the project.

By: Shailaja K