Hinduja Realty Launches 40 Acre IT Park at Hebbal
Published on April 03, 2013, 01:20 AM IST
This will be a mixed use IT park which would include IT, Hotel and Retail Development spread over 40 acres land.
The company has already started work and the project is estimated to cost around ₹ 1800 crores on a joint development basis with Gulf oil. The land owner, Gulf oil will get 30% of the entire developed area of 8 million sq.ft. Of this, revenue area will be 3.8 million sq.ft of IT SEZ and 1.2 million sq.ft. for non SEZ space, including a hotel, serviced apartments, a mall and offices.
The project is scheduled to be completed in a phased manner in five and half years.
Home prices by tier 1 builders like Godrej and Embassy are out of reach. Faster and higher appreciation can be expected in the coming years for people who bought homes from tier 2 or 3 builders at attractive rates. This is certainly good news as Brigade has planned an IT park too, close to Brigade Caladium.
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