Showing posts with label destination. Show all posts
Showing posts with label destination. Show all posts

Tuesday, November 3, 2015

Destination Hitec city

Hitec city has drawn the world's focus to Hyderabad. Locals living around its suburbs find themselves in an interesting mix of culture and technology.
Hyderabad Information Technology and Engineering Consultancy City, or Hitec City, is the most coveted commercial and residential hub of Hyderabad. Major software industry players have invested heavily here and the surrounding suburbs are the most sought after areas of Hyderabad city. It is located 10 km from Banjara Hills, 2 km from Jubilee hills, 35 km (via Outer Ring Road [ORR]) from the airport and 15 km from Nampally railway station. The suburbs of Madhapur, Kondapur, Gachibowli, Manikonda and Nanakramguda are interlinked well with Hitec city. The MMTS service has a station in Hitec city and there is a Telengana State Road Transport Corporation (TSRTC) bus station that has buses plying to all areas of the city. The area boasts of top notch schools, colleges, residential complexes, hospitals and malls.
The very attractiveness of Hitec city has also mushroomed all kinds of construction and many residents feel the roads and other civil utilities have not caught up with the influx of people here. Raunak Udani from the social media industry, feels that "The traffic in the last three years has become very heavy. This is probably because there are so many new buildings randomly coming up everywhere and bringing in more people. These constructions look unplanned and are disrupting the layout of the area.

The basic rent has increased by approximately 40% over three years. On the brighter side, there are plenty of places to hang out here and I hardly ever get out of the area. The power cuts are a nuisance. There is a power cut from 8 am to 10 am and that's exactly when we are getting ready to go to work."

The area is attractive for families too. Satish Kumar, who works in the marketing field says, "I bought a flat in Manikonda two years ago for Rs 2400 per sq ft. There are many prominent TV and film stars living here, so luckily the area stays well-maintained. It's well-connected, it's just 6-7 km from the ORR. It's away from traffic and has a good young crowd. There are open spaces around the buildings and I like to take walks with my family sometimes. There are high storeyed building coming up on one side, but I can still see heritage sites on the other side from the terrace. It's a beautiful site. I am at the intersection of heritage and Hitec."
As the area houses many young professionals, it has adapted to be more liveable for them. Small business owners have encashed on opportunities that cater to this group's necessities. "I was recruited by a software company in Hitec city and got posted in Hyderabad. I had no idea about the localities here. I found out about Hitec city through the online notice board at office.

The main reason I chose to live here is because of its proximity to my office. I could also easily find other professionals to share the house with. We are from the same field and have the same schedules. There are many types of houses here and I found a spacious semi-furnished house. There are a lot of conveniences here for people like me. There are messes with different types of cuisines. The many take-aways and home delivery options always come to your rescue. Share autos make commute easy, quick and cheap. Sodexo coupons are widely accepted around here" said George Jose Varghese, a young techie living in Gachibowli since a year.
The surge in the population heading towards Hitec and its suburbs is straining the available resources. Government infrastructure is proving inadequate and the resident's pockets are taking the hit. 

Source - TOI

Friday, September 18, 2015

BKC emerging as a top commercial destination

Mumbai
Over the last decade, Bandra­Kurla Complex (BKC) has emerged as an important business district of Mumbai and a base for financial services firms in India, backed by a robust infrastructure development in the region and incentives such as higher Floor Space Index (FSI). It has succeeded in steadily replacing the maximum city's traditional 
Central Business District (CBD) of Nariman Point over the years. According to CBRE's semi-annual Global Prime Office Occupancy Costs survey, Mumbai's BKC ranked 15th on the `top 50 rankings for global prime office properties'. This has been largely because of its attractiveness as a prime commercial hub for corporate firms from the financial sector. In the last 10 years, commercial office stock has grown by more than 300 per cent in BKC.
The concept of BKC was first formulated in 1977 when the Mumbai Metropolitan Regional Development Authority (MMRDA) was appointed as the Special Planning Authority (SPA) to conceptualise and promote the location as a hub for financial and other ancillary services. Currently, BKC has approximately 9 million sq ft of Grade A office stock spread across more than 35 buildings. Along with various multi-tenanted projects, the micro-market is also home to a substantial number of built-to-suit office developments of domestic banks such as ICICI Bank, Bank of Baroda, and the State Bank of India, as well as financial sector stakeholders such as the Securities and Exchange Board of India (SEBI) and the National Stock Exchange (NSE). Such an unparalleled presence of Banking and Financial Services Institutions (BFSI) in the region is only comparable to global prime office districts such as Hong Kong Central, London's West End and Midtown Manhattan in New York.
Recent development timeline and ease of accessibility drive demand
Leading architects such as Skidmore Owings and Merrill, RSP India Ltd and Kohn Pederson Fox, are actively engaged in the area, which has led to the development of investment-grade office buildings with large floor plates and international specifications. This has prompted various Indian and multi-national companies (both public and private), to set up their India head quarters in this office district. Consulates of various countries such as the UK, the US, Australia and New Zealand, among others, have also established their presence in the region. In the recent past, an increasing number of companies have preferred the micro-market to consolidate their operations in the city. Large sized office space taken up by companies such as Pfizer, Deutsche Bank, Citibank and Royal Bank of Scotland, has led to an increase in demand for office space in the region.
This has led to a significant increase in office developments, with BKC witnessing a nearly tenfold increase in office stock between 2005 and 2014. BKC is also home to the world's largest diamond bourse the Bharat Diamond Bourse spread across approximately 2 million sq ft. All these developments are located in a radius of approximately four sq km, which is unique in comparison to other office districts in Mumbai. This growth can also be accredited to the location advantage that BKC enjoys. It is easily accessible by rail and road from the central and western suburbs, as well as from Thane and Navi Mumbai.

Source - ET