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» Hyderabad In Future
Hyderabad
in Future
Hyderabad of the recent times represents one to of the prominent
technological and biotech hubs of India and has over the years
continuously managed to draw industrial bigwigs like Infosys
and Microsoft to set up campuses in the city. And the state
government’s ability to provide global companies large
tracts of land at concessional rates and allotment of SEZs
is a major reason for these companies coming the city’s
way.
- IT service provider, Virtusa Corp. has major expansion
plans to increase the employee strength from 2500 to 5000.
- Wanbury Limited, the world’s largest manufacturer
of Metformin, a diabetes management product has plans to
set up a Rs. 25 crore project and also wants to add Rs.
100 crores to its top line. The second phase of the project
will be completed by the end of August this year.
- Another project being set up by SemIndia Inc. estimates
an expenditure of Rs. 13,500 crore. The facility will cater
to manufacturing of semiconductors.
- Knowledge park housing R&D centers for IT, biotech
and nanotech companies and SEZ catering infotech and IT-enabled
service zone in Hyderabad are some of the highlighters of
near future. The Government of Andhra Pradesh, in its Vision
2020, has identified Biotechnology as one of the growth
engines for the state and has undertaken rapid strides to
develop the sector.
- A Greenfield airport is being developed in Shamshabad,
near Hyderabad approximate cost of the Rs.17.60 billion.
A Special Purpose Vehicle under the name and style of Hyderabad
International Airport Limited (HIAL) has been set up.
- The AP government and SemIndia have announced the setting
up of a $3-billion (Rs 13,500 crore) FabCity project to
manufacture semiconductors used in computers, mobile phones
and other digital devices at a 1,200-acre site near the
upcoming Hyderabad international airport, 40km from the
city. Two other semi conductors makers Nano Tech and Cypress
Semiconductor have evinced interest in locating their bases
in the FabCity. This is considered to be the first step
towards India becoming a $33.6-billion semiconductor market
employing about 36 lakh people by the year 2015.
- HITEC City, HITEX, Genome Valley and ICICI Knowledge Park
demonstrate the state's commitment to create world class
infrastructure. The convention centre opening in 2006, with
approximately 75,000 square feet of conferencing facility
and 55 break-out rooms, is the first of its kind in South
Asia.
- The convention centre and other company investments will
induce substantial demand for hotel rooms in the city. The
Hyderabad hospitality sector will continue to witness a
strong increase in occupancy and average rate in the next
few years. Therefore, the city will acknowledge a large
number of hotels and service apartments in the near future.
With a $3- billion FabCity project in its kitty, Hyderabad is
steadily climbing the real estate charts. An international airport
and mass transit system are making the city gear up for the
future. With future in mind, the real estate prices are escalating
as top developers from around the country are moving in to gain
a foothold in the city and promising to offer the best luxury
in living.
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