Hyderabad: There will be no more land allotments to IT companies in the existing IT corridor of Gachibowli and Madhapur. Land parcels for new IT companies will be offered in Budwel in Rajendranagar mandal, which is near the present IT corridor.
All government land parcels in Gachibowli and Madhapur are full and there is no more government land available for allotment in the city even though the government is receiving fresh applications for setting up IT/ITES units in the city. Acquiring private land will be very expensive as it costs crores of rupees an acre in the IT corridor.
The Cabinet sub-committee will fix land prices soon for allotment to IT companies in Budwel. Industries and IT minister K.T. Rama Rao directed revenue officials to scout for government lands that are in proximity to the existing IT corridor, and 340 acres of government land in Budwel were identified.
Mr Rama Rao told the TS industrial and infrastructure corporation to examine the land parcel and devise a blueprint for development.
“The TSIIC will take up land development in March and allotments to IT firms will be made from April,” said Mr Rao. “Already 30 IT companies have come forward to set up operations in Budwel. Ten of them are major companies and the rest are mid-sized.”
He said the Budwel IT corridor will be developed on par with the existing IT corridor, with all facilities. “This will meet the growth of the IT industry for the next five years,” Mr Rao said.
The IT/ITES Special Economic Zones (SEZs) set up on the city’s outskirts during the Congress regime are functioning at full capacity and the new ones willing to set up operations in the city are facing a space crunch prompting the government to look for more land.
