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HMDA has decided to Develop Financial District Phase 2 at Tellapur. This will come up on 273 Acres of land right around Tellpaur HUDA Township.
Originally 400 Acres was offered to Tishman Speyer for Technocity. However, Tishman Speyer project was delayed due to Global Recession which hit in late 2008. Since then the Tishman Speyer decided to take only 127 Acres, leaving HMDA with prime land of 273 acres which will be developed as Financial District Phase 2.
2.0 Financial District at Gachibowli
The Financial District in Gachibowli has grown dramatically in the last 3 to 4 years with ICICI's 25 floor mammoth structure towering over others. Currently very large campuses have been built and occupied by CA, Cap Gemini, Infotech, Sierra Atlantic, Cognizant, Deloitte, Templton, UBS etc. Apart from this, Tishman Speyer has completed construction of Phase 1 of the Iconic Wave Rock project, where TCS has taken up 2 Million SFT. Quinn IT Park is also completed and first occupant has trooped in.
Before Gopanaplli T junction ICICI is constructing disaster recovery center to house back up servers. This 5 floor building is nearing completion.
3.0 Impact on Tellapur / Gopanapalli/ Nallagandla
ICICI has already initiated staffing proposal with phased movement of 25000 people from across the country into Gachibowli campus. The first batch of ICICI employees are scheduled to reach Hyderbad by 20th April. Addition of staff at ICICI, would result in increased rental as well as fresh sale demand in Gopanapalli, Tellapur, Nallagandla belt.
The residential projects that have already come up in Tellapur/Nallagandla were depending on influx of people from Gachibowli Financial Dt. But with launch of Financial Dt Phase 2 at Tellapur itself, the residential development will be organic, fed by demand from Tellapur itself, after few years.
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