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Hyderabad News.Hyderabad to have second Financial District - TSIIC hunts for land in Tellapur and Puppalaguda
Hyderabad News. TOI 14.07.2016
(Excl Ventures News.)The Telangana State Industrial Infrastructure Corporation Ltd (TSIIC) is loo king at areas such as Pup palguda, Tella pur and Nagu lappali for the proposed pro ject, he said.
The second financial dis trict is being planned as there is barely any space left in the existing Financial District, and the new one will allow the government to provide land for BFSI companies that are keen on either setting up new units or expanding their base in the city, he explained. “We are also working with industry veterans to guide the state in positioning itself as the new BSFI capital of the country.While the location is yet to be finalized, we have asked the TSIIC to assess three areas -Puppalguda, Tellapur and Nagulappali -and whichever has the best infrastructure will be selected,“ Ranjan added.
As part of the plan to emerge as the new “financial capital“, the IT secretary said the state government will also be working in the areas of skill development. It is mulling introducing courses in BFSI through the Telangana Academy for Skill and Knowledge (TASK).
The move is also expected to boost the real estate sector in the city, said experts.
“In the past few years, areas such as Puppalguda and Tellapur have witnessed appreciation in land and property prices. However, compared to Madhapur, the prices would be cheaper by around 100-150%,“ said MV Rajeshwar Rao, CEO, Confederation of Real Estate Developers'' Associations of India (CREDAI).
Comment : Investors may take strategic position in Tellapur and Puppalaguda
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