My Home Group, a Hyderabad-based real estate company, is planning to construct one of the biggest IT parks in India. To be built in 75 acres in the Neopolis area of Kokapet, it will be the biggest facility in the city to be built using eco-friendly prefabrication technology. This project is expected to create 16 to 25 million sq ft working space and attract several companies leading to the creation of a large number of jobs.
The group has completed more than 25 projects, covering over 35 million sq ft, and delivered homes to over 10,000 customers. The new IT park is expected to open a new avenue for IT firms, and it will be at least five times bigger than other IT hubs in the city. The largest IT park in Hyderabad is Raheja Mindspace, built on nearly 100 acres. Kokapet has emerged as a residential and commercial hub, and it is one of the costliest commercial and residential areas in the city.
Apart from My Home Group, several other groups like Meenakshi, RMZ, Phoenix, and ITPH are developing many IT parks in Puppalguda, Nanakramguda, Gachibowli, Raidurgam, and Madhapur, which altogether would provide more than 60 million sq ft of space in the next few years. At present, there is an office space of 75 million sq ft, and that space would touch 100 million sq ft by 2023.