The Hindu Business Line : Cushman & Wakefield to market Lanco Tech Hills SEZ project

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Cushman & Wakefield to market Lanco Tech Hills SEZ project

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`World-class township with extensive IT space planned'

Project details
Lanco Hills located at Manikonda is part of the specially demarcated Knowledge Corridor of the Government of Andhra Pradesh.
It has distinctive SEZ and non-SEZ areas within the same project and has received gazette notification for its SEZ by the Ministry of Commerce.

Hyderabad May 24 Lanco Hills Technology Park of the Hyderabad-based Lanco Group, has appointed Cushman & Wakefield India as exclusive project marketing partners for the proposed mixed development project including special economic zone (SEZ) planned near Hyderabad.

Cushman & Wakefield has won the mandate to exclusively market the first phase of the project estimated at about 3.8 million sq ft of built up space of the total 7.85 million sq ft planned.

The Chairman of Lanco Group, Mr L. Madhusudhana Rao, in a statement said, "We plan to create a world-class township with expansive IT space that redefines the dynamics of IT development across India and would cater to IT and ITES sector and promote Hyderabad as IT destination."

Lanco Hills located at Manikonda is part of the specially demarcated Knowledge Corridor of the Government of Andhra Pradesh. It has distinctive SEZ and non-SEZ areas within the same project and has received gazette notification for its SEZ by the Ministry of Commerce.

The company has acquired 100 acres of land from the Andhra Pradesh Industrial Infrastructure Corporation Ltd, the nodal agency for infrastructure projects in the State.

The National Head, Project Marketing, Cushman & Wakefield, Mr. Ravi Ahuja, said, "The Hyderabad market continues to witness consistent growth in demand for commercial real estate and attracts new companies and is expected to witness 60 per cent growth in demand by 2010." Lanco plans to offer a built up area of 7.85 million sq ft over 12 towers divided among the SEZ and non-SEZ area. The SEZ would cover 5.5 million sq ft and the rest cover non-SEZ space.

The project would have workspace towers that could accommodate 75,000 people and offer parking space for over 9,000 cars. Each building of Lanco Hills will be self-sufficient with business support services that include restaurants, business centres, recreational options, gymnasium and other utilities.

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