Raheja Mindspace

Last updated
Raheja Mindspace

Mindspace is a brand of commercial and industrial parks established by K Raheja Corp. [1] Located in Mumbai, Hyderabad, Chennai and Pune, the industrial hubs offer offices, residential towers, entertainment facilities and other retail businesses. [2] By 2016, the parks developed by Mindspace housed more than 50 businesses in India, including Accenture, L&T Infotech Ltd, Cognizant Technology and Capegemini Group. [3]

Contents

The buildings by Mindspace have been designed and built to have minimal environmental impact, which has helped some of its projects to receive recognition, like Madhapur, which was recognized with a gold rating certificate from USGBC. [4] K Raheja Corp also has millions of square feet of building space in green commercial places which have been certified by the Indian Green Building Council (IGBC) and Leadership in Energy and Environmental Design (LEED). [5]

Raheja Mindspace also operates Mindspace Business Parks, a real estate investment trust (REIT). [6]

Mindspace Malad, Mumbai

In 1999-2000, K Raheja Corp developed a suburban park Mindspace, Malad, which was spread across 110 acres. [7] By setting up the technology park in the suburbs, Mindspace was able to meet a huge portion of the commercial space requirement demanded by the IT, ITES industries in Mumbai. [8]

Tenants include JP Morgan Chase and Firstsource. Mindspace Malad was originally designed by Skidmore Owings & Merill LLP. [9]

Mindspace Madhapur, Hyderabad

Qualcomm building in techno-park Qualcomm technologies building in Mindspace, Hyderabad.jpg
Qualcomm building in techno-park

Raheja's Mindspace developed its first project in Hyderabad on 110 acres of land allotted by APIIC. [10] The techno-campus-cum-park plan in Madhapur was executed in 2004, through a joint venture between the Raheja Group and Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC). [11]

With 21 buildings, Mindspace Madhapur is Hyderabad's first and largest Indian Green Building Council Gold Rating Campus, with systems for monitoring indoor air quality, managing rainwater systems, sewage treatment plants, solar panels, etc. The 4-acre reserve green area in Mindspace Madhapur has 3,500 trees within the campus, and consists of an open-air theatre, and tennis courts. [12] In April 2022, a one km long skywalk was opened that connects the Raidurg metro station to the Raheja Mindspace campus. [13] [14]

Mindspace Pocharam, Hyderabad

Mindspace Pocharam is an SEZ & IT Park which was launched in 2006, built in stages and for an eventual built-up space approx. 6 million sft. [15]

Mindspace Shamshabad, Hyderabad

Mindspace Shamshabad is a business district which is spread across 305 acres, which consists of 10 buildings of G+three floors. With 6 completed, the remaining 4 buildings are set to be completed in 2021. [16] Located near Rajiv Gandhi International Airport, Mindspace Shamshabad will be connected by the Hyderabad Metro. [17]

Mindspace Gandhinagar

Mindspace Gandhinagar is Gujarat's first IT Special Economic Zone, and commenced operations in 2012, and houses multiple multinational corporations in the IT sector. [18]

Mindspace Bengalaru

Located in Whitefield's EPIP Zone, Mindspace Bengalaru is workspace featuring several modern amenities and facilities. [19]

Developer

K Raheja Corp is a real estate development company dealing in commercial, residential and retail projects. They are the developers of Mindspace, a commercial real estate project in major metropolitan cities of Mumbai, Hyderabad, Chennai and Pune. The developers have received gold rating certification from the US Green Building Council (USGBC) for Mindspace commercial business park in Hyderabad. [20]

Controversy

There were allegations that Raheja group had caused a dilution of the Andhra Pradesh government's stake in the Mindspace project. The stake was later restored to 11 per cent in accordance with the original memorandum of understanding. [21] Negotiations in 2011 between the Raheja group and APIIC (and the Andhra Pradesh government) sought to restore the state's share in the ownership and rental revenues from the project. [22] [23] [24] [25]

See also

Related Research Articles

<span class="mw-page-title-main">HITEC City</span> Business district in Hyderabad, India

The Hyderabad Information Technology and Engineering Consultancy City, abbreviated as HITEC City, is an Indian information technology, engineering, health informatics, and bioinformatics, financial business district located in Hyderabad, Telangana, India. HITEC City is spread across 81 ha of land under suburbs of Madhapur, Gachibowli, Kondapur, Miyapur, Bachupally, Bowrampet, Manikonda, kukatpally Nanakramguda and Shamshabad all the combined technology townships is also known as Cyberabad with a radius of 52.48 km (32.61 mi) surrounding approximate area of 6,100 ha. City is within 2 kilometres (1.2 mi) of the residential and commercial suburb of Jubilee Hills.

<span class="mw-page-title-main">Hyderabad Metro</span> Rapid transit system in Hyderabad, India

The Hyderabad Metro is a rapid transit system, serving the city of Hyderabad, Telangana, India. It is the third longest operational metro network in India after Delhi Metro and Namma Metro (Bengaluru), and the lines are arranged in a secant model. It is funded by a public–private partnership (PPP), with the state government holding a minority equity stake. Hyderabad Metro is the world's largest elevated Metro Rail system based on DBFOT basis. A special purpose vehicle company, L&T Metro Rail Hyderabad Ltd (L&TMRHL), was established by the construction company L&T to develop the Hyderabad metro rail project.

Chanda Nagar is a suburb of Hyderabad and is located close to Lingampally and Miyapur. It is administered as Ward No. 110 of Greater Hyderabad Municipal Corporation.

<span class="mw-page-title-main">Hitech City railway station</span> Railway station in India

Hi-Tech City railway station in Hyderabad, Telangana, India located on the Wadi–Hyderabad Deccan section of South Central Railway. Jawaharlal Nehru Technological University, Hyderabad and localities like Kukatpally, Madhapur and are accessible from this station.

<span class="mw-page-title-main">ITC Hotels</span> Indian hotel chain

ITC Hotels is an Indian hotel chain, based out of Gurgaon. With over 100 hotels, it is India's fifth largest hotel chain. It is a part of the ITC Limited group of companies. It has a franchise agreement to operate most of its hotels as part of The Luxury Collection of Marriott International.

<span class="mw-page-title-main">Andhra Pradesh Industrial Infrastructure Corporation</span> Andhra Pradesh Government initiative

Andhra Pradesh Industrial Infrastructure Corporation Ltd also known as APIIC is an Andhra Pradesh Government initiative for providing infrastructure through development of industrial areas.

<span class="mw-page-title-main">Inorbit Mall</span> Shopping mall in Hyderabad; , Vadodara

Inorbit Mall is a subsidiary of K. Raheja Corporation which runs shopping malls in various parts of India. The first Inorbit Mall opened in 2004, in Malad, Mumbai. This is the fourth oldest shopping mall in Mumbai, from Infiniti Mall of Andheri, R Mall of Mulund, and Crossroads of South Mumbai. Inorbit Malls launched their second property in Vashi, Navi Mumbai, in October 2008; third in Cyberabad, Hyderabad in October 2009; fourth in Vadgaon Sheri, Pune in May 2011 which was closed down in November 2016; fifth in Whitefield, Bangalore on 15 September 2012 and sixth in Vadodara on 5 September 2013.

Pocharam is a satellite town of Hyderabad and municipality in Medchal–Malkajigiri district, Telangana, India.

Narapally is a village under Pocharam Municipality in Medchal-Malkajgiri District in Telangana, India. It falls under Ghatkesar mandal. Narapally is an upcoming residential and commercial suburban area due its close proximity to Singapore Township and Raheja Mindspace. It is on the National Highway 163.

The economy of Hyderabad, the capital of Telangana, India, is based on traditional manufacturing, the knowledge sector and tourism. Starting in the 1990s, the economic pattern of the city changed from a primary service hub to a more diversified economy, but the service industry still remains a major contributor. As of 2006, the largest employers of Hyderabad are the governments of Andhra Pradesh and India, with 113,000 and 85,000 employees, respectively.

Chandru Lachmandas Raheja is an Indian billionaire businessman, and the chairman of K Raheja Corp which is involved in developing IT parks, hotels, malls, and running department store chains including Shoppers Stop.

<span class="mw-page-title-main">Cyberabad Metropolitan Police</span>

Cyberabad Metropolitan Police, popularly known as Cyberabad Police, is the police commissionerate located in Gachibowli, Rangareddy district, Telangana, India. It was created in 2003 by bifurcating Rangareddy District Police.

<span class="mw-page-title-main">Raidurg metro station</span>

Raidurg Metro Station is located on the Blue Line of the Hyderabad Metro. The station was opened on 29 November 2019, two years after first commercial operation of Hyderabad metro started. It is located near Raheja Mindspace Junction. Raidurg metro station is the busiest metro station in Hyderabad with daily footfalls of around 60,000 commuters. In February 2020, Synchrony Financial became the sponsor of the Raidurg metro station, under semi-naming policy of Hyderabad metro to generate non-fare revenues.

K Raheja Corp is a property developer in India with interests in commercial and residential projects, malls and hospitality across multiple cities in the country. It owns the brands Mindspace, Commerzone, Crossword Bookstores and Shoppers Stop, and is the second largest commercial developer in India. Under the Mindspace banner, K Raheja Corp also operates Mindspace Office Parks, which is a real estate investment trust (REIT).

The Blue Line is a part of the Hyderabad Metro system in Telangana, India. The line is 27 km and spans 23 stations from Nagole to Raidurg. It was funded by a public–private partnership (PPP), with the state government holding a minority equity stake. A special purpose vehicle company, L&T Metro Rail Hyderabad Ltd (L&TMRHL), was established by the construction company Larsen & Toubro (L&T) to develop the Hyderabad Metro rail project.

<span class="mw-page-title-main">RMZ Corp</span> Indian real estate company

RMZ Corp is a privately owned real estate firm in India, headquartered in Bangalore. The company was established in 2002. RMZ Corp is India's largest LEED certified company according to The Hindu Business Line. LEED is one of the most popular green building certification programs used worldwide.

References

  1. ↑ Sapam, Bidya (3 May 2016). "Raheja to invest Rs2,000 crore on commercial space in Navi Mumbai". Mint. Retrieved 14 July 2018.
  2. ↑ https://mindspaceindia.com/downloadable-docs/Mindspace-Fact-Sheet.pdf [ bare URL PDF ][ permanent dead link ]
  3. ↑ Sapam, Bidya (3 May 2016). "Raheja to invest Rs2,000 crore on commercial space in Navi Mumbai". Mint. Retrieved 14 April 2019.
  4. ↑ "K Raheja Corp achieves LEED Gold Rating by USGBC for Mindspace Madhapur". Construction Week Online India. Retrieved 14 April 2019.
  5. ↑ "Developers go green with sustainable design, tech in commercial buildings". Hindustan Times.
  6. ↑ Babar, Kailash (17 January 2022). "Mindspace REIT to raise up to Rs 500 crore through issue of NCDs". The Economic Times. Retrieved 4 May 2022.
  7. ↑ Babar, Kailash (6 March 2017). "Blackstone Group eyes 15 per cent in K Raheja portfolio". The Economic Times. Retrieved 5 April 2019.
  8. ↑ "Mindspace, a suburban success". www.rediff.com. Retrieved 14 April 2019.
  9. ↑ "Mindspace | Malad, MUMBAI (MMR)". mindspaceindia.com. Retrieved 5 April 2019.
  10. ↑ "Mindspace Cyberabad plans to expand". The Economic Times. 17 September 2006. Retrieved 5 April 2019.
  11. ↑ "The Hindu Business Line : Raheja group to develop Mindspace techno-campus park in Cyberabad". www.thehindubusinessline.com. Retrieved 5 April 2019.
  12. ↑ Dundoo, Sangeetha Devi (29 April 2019). "Worth more than gold". The Hindu. ISSN   0971-751X . Retrieved 13 June 2019.
  13. ↑ "Walking their talk".
  14. ↑ "Raidurg Metro service begins". The Hindu. 29 November 2019.
  15. ↑ Bureau, Our Regional (24 May 2006). "Mindspace Pocharam to be launched on 26 May". Business Standard India. Retrieved 13 June 2019.
  16. ↑ "K Raheja IT park 'Mindspace' Phase-II by 2021". www.projectstoday.com. Retrieved 13 June 2019.
  17. ↑ "All metro corridors to terminate at Shamshabad". The Hindu. 7 April 2019. ISSN   0971-751X . Retrieved 13 June 2019.
  18. ↑ Umarji, Sohini Das & Vinay (23 June 2011). "Two IT MNCs to set up units at Mindspace soon". Business Standard India. Retrieved 13 June 2019.
  19. ↑ "Mindspace Bengaluru". Mindspace. Retrieved 13 June 2019.
  20. ↑ "USGBC LEED Gold Rating for Mindspace".
  21. ↑ "Register case against State officials, ACB told". The Hindu . Chennai, India. 20 February 2011. Archived from the original on 20 February 2011.
  22. ↑ "APIIC board defers decision on Rahejas' offer". The Hindu . Chennai, India. 21 December 2011.
  23. ↑ "Emaar to restore APIIC stake in JV". The Times of India . 21 December 2011. Archived from the original on 4 February 2014.
  24. ↑ "Ishaan Real-estate Portfolio Update" (PDF). Ishaan Real-estate. Archived from the original (PDF) on 26 April 2012.
  25. ↑ Raheja Vanya - New Residential Project by Raheja Developers
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.