First IT/ITES SEZ Of Maytas Properties

Maytas Hill County SEZ, the first IT/ITES SEZ of Maytas properties, a property development company headquartered in Hyderabad, has been launched.

The company is planning to build two more IT and ITES SEZs, each at Gopannapally and Gundlapochampalli. Coming up in a 74-acre plot at Bachupalli with an investment of Rs 2,500 crore, the Hill County SEZ will have a total built-up area of about 8 million square foot.

The first phase of the project bringing in 1.3 million square feet of built-up area will be ready for occupation by Oct-Dec next year and the company had already signed its first client, Wells Fargo & Co, US, in its incubation center, the first building coming up in the SEZ.

The total incubation space will be 60,000 square feet out of which the first client will have one-fourth area. The entire project to be taken up five phases will take 8-10 years to complete.

Maytas Properties CEO K Thiagarajan said that all the SEZs of the company would have adjoining integrated townships and promote walk-to-work, walk-to-shop and walk-to-restaurant concepts to avoid long commutes to work places and provide more time to spend with family.

Further he said that the Maytas Hill County township, of which the SEZ is a part, offering apartments, villas, retail spaces and entertainment infrastructure, educational spaces, hospitality and medical facilities is fast coming up. Some of the dwelling units are ready for occupation.

On the affordability of living spaces in the township to lower-rung IT staff, the CEO said that the township would have various types of accommodation, including service apartments and rooms.

2 Comments

  1. Posted July 24, 2008 at 4:16 am | Permalink

    Warning bells are ringing on Bangalore’s future as a leading BPO destination. It is not a full-blown crisis yet but the portents are disturbing. Of late, we don’t hear of too many companies coming to Bangalore, whereas we have seen many BPO companies starting operations in cities like Chennai, Noida, Kolkata and Kochi. I feel Karnataka is losing its advantage as a BPO destination. Industry sources say that BPO hiring numbers in Bangalore have been lower by up to 30 per cent in the April-June quarter, but these are expected to pick up in the current quarter. The decline in the number of new companies from the US or Europe setting up shop in Bangalore is the high cost of operations in the city, economic crises in their home country and 2008 being an election year in the US. Currently, it is only the existing companies located in Pune, Chennai, Hyderabad and Gurgaon that did not have a base in Bangalore are now setting up operations. On the other hand, large firms which already have 10,000 or more staff in the city are automatically looking elsewhere for expansion. It is not gloom all around. The primary reason cited by the industry for Karnataka’s failure to attract new BPO investment is lack of infrastructure. Industry nodal body Nasscom has sounded off a warning that Bangalore has displayed symptoms of warding off investments on account of increasing cost of operations.For more view- realtydigest.blogspot.com

  2. subhra ganguli
    Posted August 29, 2008 at 11:29 pm | Permalink

    I am a NRI & Interested ij your project. I would like to have all the apartment details in relation to No. Apartment size and no. of bed rooms ? Cost per sq.ft? Total cost ? Car parking Cost ? Corpus fund cost ? Maintenace cost? Registration ? Stamp Duty ? Service tax?

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