HYDERABAD: Even as there is a lot of buzz about land value rising to Rs 100 crore per acre in Kokapet, this locality is likely to generate about five lakh IT jobs in the next five years. According to city-based realtors, since the Kokapet is strategically located in west Hyderabad, many MNCs will queue up to have their establishments in the Kokapet Special Economic Zone (SEZ), which is one of the most expensive commercial and residential locations in Hyderabad.
Already 125 acres in Kokapet SEZ (Neopolis) have been allotted to developers like My Home and Salarpuria Sattva to create commercial space. Among them, My Home Group is coming up with over 30 million sq. ft of office space and is set to become one of the largest private IT parks in the country. This commercial project being developed on an 80-acre plot would comprise a combination of SEZ and non-SEZ development along with tourism, retail and entertainment facilities.
On the other hand, Salarpuria Sattva is planning to create nearly one million sq. ft of commercial space. South India’s tallest building (skyscraper), is under construction in the Golden Mile Layout at Kokapet.
Speaking to TNIE, K Indrasena Reddy, president-elect, of CREDAI Telangana, said that Kokapet SEZ would become one of the best IT hubs in the country.
“We can expect 5 to 7 lakh IT jobs to come up in the coming years. Neopolis is worth Rs 100 crore as once the development works here are completed, bidders would later realize that they could have quoted Rs 120 crore at that time,” he said.
More jobs would be generated from Budvel as the State government is set to auction 100 acres of land for IT corridor and residential purposes. Since west Hyderabad is saturated, Budvel will open a new world of opportunities for IT firms.