A 27-Acre Mixed-Use Address Rising at Madhurawada IT Hill No. 3
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K Raheja Corp traces its origins to Lachmandas Raheja, Chandru Raheja's late father, who founded the group in 1956, and the company has since built out brands such as Mindspace Business Parks, Inorbit Mall, Shoppers Stop and Chalet Hotels. The group already has a presence in Visakhapatnam, where it is in the advanced stage of completing construction of a mall in the city on land leased out by Visakhapatnam Port Authority, and it now proposes K Raheja Corp IT Hills 3 Visakhapatnam at Madhurawada IT Hill No. 3, inside the city's IT SEZ.
The proposal is for a mixed-use campus that brings commercial and residential space onto the same address, with the company having expressed interest in investing Rs 2,172.26 crore for the project and requested the state government to allocate 27.10 acres in Madhurawada IT SEZ Hill No 3 for its implementation. Set among the hills that give the SEZ its name, and within reach of Rushikonda's coastline, the address is positioned for people who work in the corridor's offices and want to live close to them.
The plan follows K Raheja Corp's established approach of building integrated business parks in-house, an approach it has used at Mindspace campuses in Mumbai, Hyderabad, Pune and Chennai, where the group has similarly paired large-format Grade-A office space with supporting infrastructure. That same discipline of phased, master-planned delivery underpins the proposal at IT Hill No. 3.
The timing follows Google's decision to establish an AI-focused data center presence in Visakhapatnam, a development that is expected to attract a large influx of IT companies to the city. With existing SEZ tenants such as TCS, Cognizant and Accenture already operating from Millennium Towers nearby, the case for additional Grade-A office and residential supply at IT Hill No. 3 has strengthened considerably.
K Raheja Corp IT Hills 3 Visakhapatnam is proposed as a long-horizon address for Visakhapatnam's expanding technology workforce, built by a group with nearly seven decades of experience shaping how India's business districts and residential communities come together.
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IT Hill No. 3, Madhurawada IT SEZ, Visakhapatnam, Andhra Pradesh · Madhurawada IT Hills 3 · Visakhapatnam
Madhurawada sits along NH-16, part of the Golden Quadrilateral, which offers connectivity to cities like Chennai in the south and Kolkata in the north, making it a vital route for interstate travel and trade. The locality has grown into one of Visakhapatnam's established IT addresses, anchored by the Madhurawada IT SEZ and within reach of Rushikonda's beachfront and the Eastern Ghats. It is already home to a working ecosystem of technology occupiers, government-provided office space, and a mix of residential neighbourhoods that have developed around the SEZ over the past decade.
IT Hill No. 3 places K Raheja Corp IT Hills 3 Visakhapatnam inside the same government-notified SEZ corridor that hosts Millennium Towers 1 and 2, where the government has already provided about 6 lakh square feet of office space to IT giants such as TCS, Cognizant, Accenture, and others. New occupiers such as Phenom People's Global Development Center and other technology firms have also been taking up space nearby on the adjoining IT Hill No. 2, reinforcing the corridor's pull for both employers and the residential demand that follows them.
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Google's planned AI-focused data center investment in Visakhapatnam, in partnership with Adani Group and Airtel, is expected to draw a fresh wave of IT occupiers and residents to the Madhurawada SEZ corridor.
The Madhurawada IT SEZ already houses Millennium Towers 1 and 2, occupied by TCS, Cognizant, Accenture and others, giving the corridor a proven base of Grade-A office demand.
NH-16 runs through Madhurawada and connects the locality to Chennai in the south and Kolkata in the north, positioning the address on one of India's key national highway corridors.
Visakhapatnam Metropolitan Region Development Authority has proposed flyovers and junction improvements along the NH-16 stretch through Madhurawada to manage growing traffic as the corridor densifies.
Companies including Phenom People's Global Development Center, iSpace Software Solutions and Tech Thammina have recently set up or laid foundations on the adjoining IT Hill No. 2, expanding the corridor's employment base.
K Raheja Corp IT Hills 3 Visakhapatnam sits on IT Hill No. 3 within the Madhurawada IT SEZ, the same government-backed corridor that already hosts Millennium Towers and a growing base of technology occupiers.
K Raheja Corp was founded in Mumbai in 1956 and has grown into one of India's largest commercial developers, giving this proposal the backing of a long-established real estate group.
The company has proposed an investment of Rs 2,172.26 crore across 27.10 acres, combining commercial and residential space on a single integrated campus.
K Raheja Corp is already building Inorbit Mall in Visakhapatnam on land leased from the Visakhapatnam Port Authority, giving the group an established local track record ahead of this project.
Google's planned AI data center investment in Visakhapatnam is expected to draw more IT and technology companies to the city, directly benefiting office and residential demand at IT Hill No. 3.
The project is structured across two phases, with commercial space planned by 2028 and 2031 and residential space by 2030 and 2035, allowing occupiers and residents to plan around a clear timeline.
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