Founded in 1956 by Chandru Raheja, K Raheja Corp is a property developer with interests spanning commercial and residential projects, malls, and hospitality — and is the second-largest commercial developer in India. The group's entry into Visakhapatnam is not a one-off bet. Over a compressed period, K Raheja Corp has moved simultaneously on two distinct asset classes in the city: a large-format retail mall already open, and a multi-phase IT and residential campus at Madhurawada IT Hill No. 3 that represents one of the largest single private investments the city has seen.
"Visakhapatnam is a city we have believed in for a long time," said Neel Raheja, Group President, K Raheja Corp, at the Inorbit Mall inauguration. That conviction is now visible in concrete and steel across two very different parts of the city.
Spread across 1.4 million sq ft and located in Salagramapuram, Inorbit Mall Visakhapatnam is positioned as the largest mall in Andhra Pradesh. The mall was delivered in a record time of 31 months, and opened to the public on 27 March 2026. The scale matters for prospective buyers at K Corp IT Hills 3: a Grade-A retail anchor of this magnitude, already operational, anchors the broader K Raheja ecosystem in the city and reduces the lifestyle-infrastructure risk typical of emerging IT corridors.
Inorbit Mall Visakhapatnam spans 1.4 million sq ft and features over 350 brands, including Shoppers Stop, H&M, Pantaloons, Max, GANT, Birkenstock, American Eagle, Samsung, Malabar Gold & Diamonds, Timezone, and AAA Cinemas. The mall has also received pre-construction gold certification under the LEED rating system.
K Raheja Corp is planning one of the largest mixed-use developments in Visakhapatnam at IT Hill No. 3, with nearly 2.9 million sq ft of Grade-A office space and premium residential units, at an estimated investment of ₹2,172 crore. The company has requested the state government to allocate 27.10 acres in Madhurawada IT SEZ Hill No. 3 for its implementation.
The project includes IT office towers, workspace for over 24,000 employees, and 900 premium residential apartments. The phasing is deliberate and publicly disclosed: the first phase is scheduled for completion by 2028 for commercial buildings and 2030 for residential complexes, involving an investment of ₹663.42 crore and delivering 9.59 lakh sq ft of space. In phase two, commercial buildings are planned for completion by 2031 and residential complexes by 2035, with an investment of ₹1,418.84 crore, adding 19.06 lakh sq ft of office and residential space.
The proposal notes that the project will generate employment for approximately 9,681 people. For residents of the planned apartments, this translates directly into walkable employment — a feature few residential projects in any Indian city can claim from the same developer on the same campus.
IT Hill No. 3 sits within the IT SEZ at Madhurawada, Visakhapatnam, with a pin code of 530045. The SEZ is already home to established occupiers: the government has provided about 6 lakh sq ft of office space in the existing Millennium Tower 1 and 2 to IT giants such as TCS, Cognizant, Accenture, and others. Cyient and Infosys also hold addresses on Hill No. 3, making it one of the more densely occupied IT campuses in Andhra Pradesh outside Hyderabad.
The move by K Raheja Corp comes in the wake of Google planning an AI-based data centre in Visakhapatnam, which is expected to attract a large influx of IT companies. Google is building its first data centre in Tarluvada of Anandapuram locality in Vizag city with around $6 billion. That scale of anchor investment creates sustained demand for Grade-A office space — precisely the gap K Corp IT Hills 3 is designed to fill.
Land prices have climbed by 30 to 50 per cent, with the most visible impact along the IT Hills–Madhurawada–Rushikonda corridor. Flat prices in Madhurawada currently range from ₹4,150 to ₹6,150 per sq ft, with the average for flats standing around ₹5,000 per sq ft. Flat rates in Madhurawada have appreciated 29.9% over the last five years and 78.6% over the last ten years.
Demand for both commercial and residential properties is climbing steadily, especially in areas like Madhurawada, Bheemili, Yendada, and Rushikonda. Known for its proximity to IT parks and excellent connectivity, Madhurawada has become a top choice for young professionals and families. K Raheja Corp's residential component at IT Hills 3 sits inside — rather than adjacent to — the SEZ employment zone, a locational proposition that few competing addresses in Madhurawada can replicate.
K Raheja Corp Homes has over four decades of residential delivery experience, with a portfolio spread across five cities, including iconic projects such as Raheja Vivarea and Raheja Artesia in Mumbai, and Raheja Vistas in Hyderabad and Pune. With around 10 million sq ft of high-quality residential area developed across 30-plus projects, homes have been created for over 8,500 families.
On the commercial side, K Raheja Corp operates Mindspace Office Parks, a listed real estate investment trust (REIT) under the Mindspace banner. The commercial business operates under the Mindspace and Commerzone brands, with projects in Mumbai, Hyderabad, Pune, and Chennai. IT Hills 3 in Visakhapatnam represents the group's first commercial-residential campus in Andhra Pradesh, extending a model it has refined over decades in established technology corridors.
K Raheja Corp's projects have been showcased in the C40 Cities Climate Leadership Group of the Clinton Climate Initiative — a credentialling that carries specific relevance in Visakhapatnam, where APIIC and the state government have repeatedly emphasised sustainability standards for IT SEZ development.