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Hyderabad Metro to Start work on 1 Million SFT Mall at Raidurg beside Bio Diversity Park

Hyderabad News. Hindu 11.06.2015


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(Excl Ventures News.)Larsen and Toubro, which is developing the Rs 16,000-crore Hyderabad Metro Rail project, said Wednesday that it will develop the entire 18.5 million sq ft commercial space around the project in a phased manner over the next 10 years.

The firm is also planning to build the capital’s ‘biggest mall’ at a commercial complex of about one million feet at Raidurg, terminal point for corridor three – Nagole to Shilparamam/Raidurg

Another two million to two-and-a-half million real estate space will also be made available for office space and construction at the site is expected to commence shortly, said Ravishankar, L&TMRH’s TOD head.

Finances for developing six million sq ft are already being tied up and the total 18.5 million sq ft will be developed as and when required, V B Gadgil, Chief Executive and Managing Director, L&T Metro Rail (Hyderabad) told reporters.

Of the 18.5 million sft of what is being called, Hyderabad Next, development of 1.1 million sft of high quality retail and office space is underway in the first phase at three locations - Punjagutta, Erramanzil and near NIFT in the Hitech City. These three special stations would be ready by December and commissioned by next March or April.



Hyderabad Next has already received bookings for 40 per cent of the retail and office space at the three locations. Among those who signed up for the space are Hyper City, Shoppers Stop and PVR multiplex chain.

The SBI has come forward to set up ATMs at every metro rail station. Similarly, MedPlus wants to have an outlet at every station. Bank of Baroda and Corporation Bank are some of others interested in the project.

Gadgil and HMR Managing Director NVS Reddy said brand Hyderabad Next will provide space for parking, shopping, leisure, entertainment and healthcare.

Mr. Ravishankar, during his presentation, also stated that there were plans to have residential spaces, but these will evolve in the eight to ten years later. All buildings will be ‘green’ having their own sewage treatment plants.


Comment : Will Inorbit Mall get hit?

Keyword Tags: Hyderabad News,Raidurg Mall

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