Located in the western part of Hyderabad, Hitec City has emerged as the hub of office, commercial, and residential real estate. It is the center of office space real estate in the city, and its infrastructural development has created a high-rise boom in the locality’s real estate. Properties in Hitec City are ample in number, and many more are on the verge of completion and occupancy.
Background
The erstwhile combined Government of Andhra Pradesh commissioned Hitec City, which is adjacent to Cyberabad in the west of Hyderabad. The then Prime Minister of India, Atal Bihari Vajpayee, inaugurated it on 22 November 1998.
In 1997, N. Chandra Babu Naidu, the then Chief Minister, traveled to Southeast Asia to meet potential investors and market the state. He was impressed with the larger technology-related developments of Singapore and Malaysia, particularly the Multimedia Super Corridor (MSC) near Kuala Lumpur. Soon after coming back from his Southeast Asia tour, Naidu initiated a $350 million knowledge enclave in Hyderabad, leading to the birth of Hitech City.
Project Authority
The Hyderabad Information Technology and Engineering Consultancy City, abbreviated as HITEC City, is an Indian information technology, engineering, health informatics, and bioinformatics, a financial business district located in Hyderabad, Telangana, India. Larsen and Toubro Limited commissioned it through its Special Purpose Vehicle, L&T Hitech City Limited, a joint venture company of L&T Infocity Limited and the erstwhile Andhra Pradesh Industrial Infrastructure Corporation.
Project Details
The project envisaged developing 1,000,000 m2 (11,000,000 sq ft) of IT space and 420,000 m2 (4,500,000 sq ft) of residential space in a phased manner on 120 ha (300 acres) of land. The project offers multi-tenanted as well as Built-to-suit (BTS) facilities. It caters to all segments of the IT industry, including small and medium enterprises, with office areas starting from as small as 230 m2 (2,500 sq ft).
Tech Parks in Hitec City
Hitec City real estate enjoys a good portion of the office space demand among major IT parks in India. Laxmi Cyber City, L&T Infocity, CII – Sohrabji Godrej Green Business Centre, Raheja Mindspace IT Park, HITEC City-2 SEZ, Cyber Pearl (an Ascendas IT park), The V, an Ascendas IT Park, The TCS Deccan Park Campus, RMZ Futura IT Park, Knowledge City, Meenakshi Tech Park, Phoenix Hitech City-2 are the main IT parks in Hitec City.
Telangana government’s pet projects namely T-Hub, We Hub, Image Towers, T-Works are all located in Hitech City. Hyderabad International Convention Centre and HITEX Exhibition Centre are the two convention centers that are part of Hitec City.
Companies such as Hyundai Mobis, IBM, Accenture, CSC, Bank of America, Facebook, and Novartis have built-to-suit facilities in the park, with 10,000 workers within them. Other companies in multitenant facilities include Broadcom Inc., Deloitte, Parexel, Syneos Health, Qualcomm, Zensar Technologies Ltd, Tech Mahindra, Oracle, Accenture, Amazon, General Electric, OpenText, IGATE, Verizon, Thomson Reuters, Wells Fargo, and TietoEVRY.
Infrastructure in Hitec City
Hitec City has a well-developed infrastructure with all necessary amenities available within the locality. The roads in the area are well-maintained and connected to other parts of the city. The Outer Ring Road (ORR) provides easy access to the area, and it can also be reached via inner city roads from Jubilee Hills and Kukatpally. The area also has a metro rail station, making it easily accessible to commuters from different parts of the city. The Secunderabad to Hitec City metro rail is the existing route, and the newly planned Airport Metro Rail starts from Hitec City, Raidurg station. This is expected to make commuting for office workers to and from the airport a comfortable ride.
Hitec City has a sophisticated sewage and electricity infrastructure in place, which ensures a smooth and uninterrupted supply of these essential services. The area also has many international schools like Hoxbridge Lore International School and CGR International School, making it an ideal location for families with children. Additionally, world-class hospitals like AIG Hospitals are also present in the area, providing easy access to quality healthcare services.
Green Spaces in Hitec City
Hitec City is not just a concrete jungle; it has many green spaces that provide a much-needed respite from the hustle and bustle of city life. The Biodivesity park and Durgam Cheruvu Park are two such examples of green spaces in the area. The Biodiversity park spreads over 390 acres and accommodates a variety of flora and fauna, including several species of birds, reptiles, and butterflies. It also has a butterfly park, a medicinal plant garden, and a bamboo forest.
The Durgam Cheruvu Park is a 63-acre park situated around the Durgam Cheruvu Lake. The park has several walking and cycling tracks, a floating restaurant, and also a children’s play area. It also has a large open-air amphitheater that hosts cultural and musical events from time to time.
Shopping and Leisure in Hitec City
Hitec City is home to Inorbit Mall, one of the largest malls in the city. The mall houses several international and domestic brands, a food court, and also multiplex cinema. Additionally, there are several high-end restaurants and pubs in the area for leisure, making it a popular destination for the city’s young and trendy crowd.
Real Estate in Hitec City
Hitec City is a hub for office, commercial, and residential real estate. The area is known for its infrastructural development, which has created a high-rise boom in the locality’s real estate. Properties in the tech project are ample in number, and still, more are on the verge of completion and occupancy.
Top builders like My Home, Phoenix, Aurobindo, Meenakshi, Salarpuria Sattva, RMZ, Divyasree, L&T, etc., have come up with huge projects over the last 15 years in Hitec City. Each year, developers sell hundreds of apartment units and also lease/sell millions of square feet of commercial space in this suburb. The price of apartments in the suburb ranges between Rs 9,000 to Rs 16,000 per sq ft, while villa prices range between Rs 16,000 to 20,000 per sq ft.
Current residential projects in Hitec City include:
- NCC Urban Gardenia
- Vishnu Vistara
- NAMITHA 360 LIFE
- Silversand Cyberdyne 2
- Silversand Cyberdyne 3
- Trendset Jayabheri Elevate
- 360 Life Tower 2
- Aurobindo Kohinoor