Mumbai-based real estate developer, Hirandani, has announced its plan to develop real estate on account of multi-services SEZ development at Hyderabad. "We will invest about Rs 12,000 crore into the project over a period of the next seven years," real estate developer, Hiranandani said, while laying the foundation stone was for the multi services SEZ.
The SEZ is expected to offer various property services including IT consultancy, BPO, pharmaceutical research, education. "Depending on the requirement of the customer, we will develop space and we can offer built up areas from 7,500 sq. ft. to 5 million sq. ft.," Hiranandani said.
Another real estate developer, Parsvnath Developers, a Delhi-based real estate company, has received the central government's approval to set up a bio-technology and pharmaceuticals special economic zone (SEZ) over 25 acres in Hyderabad.
The state-of-the-art SEZ will be developed by the company’s subsidiary, Parsvnath SEZ over 21.5 lakh sq ft at an investment of Rs 400 crore.
The company has already acquired land for the project and is moving towards early notification of the SEZ.
Another set of SEZ development is coming up in the state of Andhra Pradesh that will be a multi-product SEZ, which will focus on avionics and aviation components, aircraft maintenance, besides consumer electronics.
The Hyderabad real estate developer GMR group, from south India that had recently won the contract to modernise Delhi airport is planning to invest Rs 1,500 crore to set up a multi-product SEZ with special focus on aviation-related activities in the area adjoining Hyderabad's Greenfield airport.
The Real estate in Hyderabad will soon have a contribution in the hospitality industry. GMR's development plan for the new airport in Hyderabad will be accompanied by a plan to establish two hotels in the airport area. In the first stage, it plans to have a mid-market hotel close to the airport.
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