Maytas gets on with three IT SEZs in Hyderabad

Hyderabad: Maytas Properties belonging to Satyam Computer Services, is drawing up plans to develop three IT special economic zones (SEZs) in Hyderabad, the Andhra Pradesh State capital.

All three SEZs will be established in a total area of about 150 acres, and will have a built up area of some 16.5 million sq. ft.

The SEZs will have residential units, retail space and other enabling facilities as part of the projects, according to Mr. K. Thiagarajan, Chief Executive Officer.

The first SEZ named as 'Hill County 'will be developed at Bachupally. Hill County will have a range of apartments, bungalows and villas.

Work on this project has already begun and delivery of the developed spaces is expected in the next few months. The company has already initiated talks with several multi-national companies for housing their office at Hill County.

The other two SEZs will 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 are located their offices.

These two SEZs would have a built up area of 4 and 4.5 million sq ft respectively.

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.

Interestingly, the company has acquired land in Bangalore, Chennai, Vijayawada and Visakhpatnam to develop similar projects.

In Chennai, the company is making progress with a mixed use project (comprising commercial, retail, hospitality and residential spaces) on the Old Mahabalipuram Road.

It has also acquired a land parcel in Nagpur.