HYDERABAD: The prestigious Gateway IT Park in Kandlakoya in Medchal - Malkajgiri district has received a poor response from developers and builders to take up the project anticipating lower returns from this locality.
It has been nearly one and half years since the foundation stone was laid, yet no construction activity has started as the tenders were not finalised due to a lack of interest from the concerned.
The Telangana State Industrial Infrastructure Corporation, the nodal agency for the project, had issued the tenders three times and extended the date for bids in hopes of allocating the project.
When TNIE contacted Jayesh Ranjan, Principal Secretary of IT, Industries and E&C, to find out the reasons, he said, “It is true that there is a poor response from builders on this project as they are in view of lower returns from it. We will restructure this project in a different way to take it forward.”
According to the third tender, the selected developer was required to provide his marketing plan for attracting IT companies to the proposed building along with the detailed project report (DPR) to be submitted to the authority along with the building plans for approval.
The developer should also be responsible for achieving financial closure of the project within a period of three months from the date of obtaining plan approvals.
This project was taken up as part of the Growth In Dispersion (GRID) policy to diffuse IT growth in four corners of Hyderabad to attract investments and create job opportunities for the youngsters in the State.
Last year, about 90 plus companies applied for office space at the IT Park and the acceptance letters were handed over to them. The aim of the Gateway IT park which is coming up in six lakh sq ft is to accommodate more than 10,000 employees.
This upcoming IT Park connects Hyderabad and North Telangana with four highways Medak - Narsapur Highway, Adilabad-Nizamabad- Kamareddy- Medchal Highway, Ramagundam-Karimnagar-Siddipet-Gajwel-Shameerpet Highway, and Bhoopalapally-Warangal-Yadadri-Ghatkesar Highway.
In fact, this IT Park is near ORR and has great connectivity as it takes around one hour to reach the Hyderabad Airport. Moreover, MMTS services also run close to the IT Park and efforts were on to develop the Gundlapochampally station.