IT Tower was developed at a cost of Rs 1,032 crore on a 10.35-acre site in Malakpet
Posted Date – 11:40 PM, Sunday – 1/8/23
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Hyderabad: To expand the IT hub beyond the city’s west end, the state government will build an IT tower in Malakpet to boost IT services in the old city and create jobs for the youth.
IT Tower is being developed at a cost of Rs. 10.32 billion and is situated on a 10.35-acre site in Malakpet. However, an assessment of actual costs must be made by the bidder.
Telangana State Industrial Infrastructure Corporation Limited (TSIIC) has been entrusted to execute the project on a joint development basis.
TSIIC has invited bidders to apply for the execution of the project. Upon completion of the project, the state government aims to develop the tower into an IT center for the southern part of Hyderabad, including the old city.
TSIIC proposes a massive 16-story tower over 2 million square feet. As per Hyderabad Grid Policy, the project component includes IT and ITES services covering more than 50% of the total GFA. Non-IT or ITES services will account for less than 50% of the total floor area.
Under IT and ITES services, components include the construction of plug-and-play offices, business centers and offices. Under non-IT and ITES services, the space can be used for building residential, commercial and hotel purposes.
Taking into account various factors, including bidders’ requests, TSIIC has extended the last date for submission of bids to January 4th. In addition to the south, the state government is also focusing on expanding the IT center in the northern part of the city.
In February last year, IT Minister KT Rama Rao laid the foundation stone for Gateway IT Park in Kandlakoya, Medchal-Malkajgiri district. The 14-story building is spread over 600,000 square feet on more than 8.5 acres. This will help provide employment to more than 50,000 people.
In addition to this, the state government has also extended the IT corridors to the first and second tier towns and cities in the state. The IT center at Siddipet is rapidly taking shape and the center at Nalgonda will be ready in a few months. Hubs at Nizamabad and Mahabubnagar will also be ready in a few months.
