K Raheja Corp Proposes 27-Acre Mixed-Use Development at IT Hill No. 2, Visakhapatnam — Separate from Already-Planned IT Hills 3 Project
K Raheja Corp Proposes 27-Acre Mixed-Use Development at IT Hill No. 2
K Raheja Corp has proposed a 27-acre mixed-use development at IT Hill No. 2 in Visakhapatnam, combining premium office spaces and premium residential developments to strengthen the city's position as a major IT and business hub in South India.
Project Scope and Configuration
The development includes IT office towers designed to accommodate approximately 24,652 employees and 900 premium residential apartments. The office towers are configured as G+11 structures, while residential units rise to G+14.
The integrated commercial and residential infrastructure spans across 27 acres. K Raheja Corp has recently applied for Terms of Reference (ToR), an important regulatory step that moves the project closer to execution.
Employment and Economic Impact
The development is expected to attract major IT companies and generate thousands of direct and indirect employment opportunities in Visakhapatnam. The project aligns with the city's rapid emergence as a regional technology center, following announcements by major technology companies seeking to expand their presence in the region.
Distinction from IT Hills 3
This IT Hill No. 2 project is distinct from K Raheja Corp's previously announced IT Hills 3 development, which is also planned for the Madhurawada IT SEZ area. The company is pursuing multiple large-scale investments across Visakhapatnam's designated IT infrastructure zones.
Developer Background
Founded in 1956, K Raheja Corp was formed following a split between Raheja brothers as a separate group. The firm is the second largest commercial developer in India and operates its commercial business under the brands Mindspace and Commerzone with projects in Mumbai, Hyderabad, Pune and Chennai. K Raheja Corp Homes has delivered residential projects over four decades, with a portfolio spread across five Indian cities including iconic projects such as Raheja Vivarea and Raheja Artesia in Mumbai, and Raheja Viva and Raheja Reserve in Pune.
The company's commercial offerings serve as a partner of choice for 210+ domestic and foreign multinationals. The Visakhapatnam project represents the developer's strategic entry into an emerging IT services destination with significant growth momentum.