Madhapur is where K Raheja Corp built its first integrated business park outside Mumbai.
K Raheja Corp expanded Mindspace into Hyderabad's IT corridor starting with Madhapur in 2004, through a joint venture with the Andhra Pradesh Industrial Infrastructure Corporation that facilitated land allotment on 110 acres for integrated business park development. That single land parcel has since grown into the developer's largest commercial asset in the city and one of the anchors of its listed REIT platform.
Mindspace Madhapur is Hyderabad's largest Grade-A business park, spread across 97.2 acres, and is located within the Madhapur micro-market, which has evolved into the city's central business district. Mindspace Madhapur offers a leasable area of 13.1 million square feet, of which 9.6 million square feet is already completed and boasts a committed occupancy rate of 91.9 per cent. Mindspace Madhapur is Hyderabad's largest Grade A integrated business campus, spanning over 13 million square feet of premium IT/ITeS office space, complemented by two Westin-branded hotels and the Inorbit Mall, creating a vibrant, self-contained ecosystem for work, hospitality, and retail. The campus houses more than 100,000 professionals.
What distinguishes K Raheja Corp's approach in Madhapur is the campus model rather than a standalone tower. The campus is home to several Fortune 500 companies and features LEED-certified sustainable buildings, landscaped green zones, and modern amenities including food courts, banks, crèche, outdoor sports, and 24×7 security. By 2016, the parks developed by Mindspace housed more than 50 businesses in India, including Accenture, L&T Infotech, Cognizant Technology and Capgemini Group.
The developer has continued to reinvest in the campus rather than treat it as a finished asset. The 1A-1B redevelopment project with a leasable area of 1.3 million square feet is in the excavation phase, estimated for completion by Q4 FY26, while the 7/8 redevelopment project, offering 1.6 million square feet, has already completed demolition. Most recently, K Raheja IT Park (Hyderabad) Limited, an Asset SPV of Mindspace REIT, entered into a pre-leasing arrangement for a luxury hotel at Mindspace Madhapur, comprising a 330-key hotel along with ancillary commercial space, marking the third on-campus hotel and deepening what the REIT describes as a work-stay-meet ecosystem within the same address.
Sustainability has been part of the Madhapur story since early on. The developers have received gold rating certification from the US Green Building Council for Mindspace commercial business park in Hyderabad. In September 2016, the company commissioned a 1.6 MW polycrystalline solar rooftop plant at Mindspace Business Parks in Madhapur, marking one of the largest such installations in Telangana at the time.
K Raheja Corp's presence in the immediate vicinity has grown beyond the original 97-acre campus. K Raheja Corp-backed Mindspace Business Parks REIT acquired Commerzone Raidurg, with 1.82 million sq ft of office space in Hyderabad's Madhapur micro market, an IT park entirely leased to Qualcomm. Taken together with the flagship campus, the city accounts for a total leasable area of 14.1 million square feet in Mindspace REIT's portfolio, including Pocharam, representing 43.7 per cent of the company's overall portfolio. Leasing momentum has held up in recent quarters, with a lease of approximately 150 thousand square feet to technology development tenants and another leasing achievement of 92 ksf in the same quarter, taking total leasing in Mindspace Madhapur to approximately 350 ksf.
Alongside its commercial footprint, K Raheja Corp has also built residences directly within the Madhapur ecosystem. Raheja Quiescent Heights, a low-density tower of 3, 4 and 5 BHK apartments, was positioned strategically located next to Mindspace, the most sought-after Central IT District, maintaining close proximity to HyperCity, Inorbit Mall, Outer Ring Road, and the Westin Hotel. It illustrates the developer's broader residential philosophy in the city: K Raheja Corp Homes has honed expertise in delivering self-contained residential spaces over the last four decades, with a portfolio spread across five cities of India, including Raheja Vistas in Hyderabad and Pune. For a buyer, this pairing of office campus, hospitality and homes within walking distance is the throughline of K Raheja Corp's Madhapur strategy — live close to where the demand for space, rent and resale is generated.
Madhapur's status as an established, land-scarce office core is precisely what keeps residential and commercial values anchored here. Mindspace and nearby campuses sustain year-round tenant inflows, while limited fresh land inside Madhapur keeps property prices firm, with most new stock coming via redevelopment or boutique high-rises. The locality connects through the Blue Line at Madhapur metro station, with the nearest metro stations being Madhapur and Durgam Cheruvu, along with road access via the Outer Ring Road. The area is well connected by road, metro, and the Durgam Cheruvu Cable Bridge, and lies about 45 minutes from the airport.
On pricing, prime areas like Gachibowli, HITEC City, Banjara Hills, and Madhapur drive demand, with prices between ₹8,000 and ₹14,000 per sq ft and 6% yearly growth. Rental demand tracks the office cycle closely: gross rental yield in Hyderabad typically runs 3 to 5 percent, with well-managed assets near metro and Mindspace sitting toward the top of that band, and Madhapur flats near HITEC City or Durgam Cheruvu stations leasing fast with low vacancies. This is the demand base — Mindspace's own tenant roster and the professionals who work inside it — that gives a K Raheja Corp address in Madhapur its underlying pull.