K RAHEJA THE RITZ-CARLTON HYDERABAD, MINDSPACE — New Project Coming Up in Madhapur, Hyderabad

Ritz-Carlton Comes to Hyderabad's Madhapur

Chalet Hotels Ltd. and Mindspace Business Parks REIT, both part of K Raheja Corp, are developing the first Ritz-Carlton in Hyderabad, Telangana. Approved by Chalet Hotels' board on February 23, 2026, the development will include around 330 rooms and about 36,255 sq ft of commercial and retail space.

Project Scope and Investment

The 330-key hotel project with 36,255 square feet of commercial or retail space in Madhapur, Hyderabad represents a significant addition to the city's hospitality landscape. The hotel will be part of a project on a warm shell lease through Mindspace.

Chalet plans to invest approximately INR 630 crore, while Mindspace will contribute around INR 300 crore towards overall development. Completion is targeted within 36 months, extending into FY2029.

K Raheja Corp's Hotel Footprint in Hyderabad

It will be the company's third hotel in the city. Mumbai-based Chalet is led by Chairman Hetal Gandhi and MD & CEO Shwetank Singh. Mindspace REIT is led by CEO & MD Ramesh Nair.

The Ritz-Carlton brand represents Chalet's expansion into ultra-luxury hospitality. Hyderabad, particularly Madhapur in the IT corridor, continues to attract strong corporate demand driven by technology and pharmaceutical sectors. The addition of a Ritz-Carlton underscores the city's rising status as a luxury hospitality destination.

Location and Market Context

The hotel will be situated within Mindspace Madhapur, 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. Connectivity of the micro-market has further improved with the recently opened Durgam Cheruvu cable bridge. The bridge is aimed to reduce travel time between Madhapur and Jubilee Hills by 15-20 minutes, strengthening the connect of HITEC city and the financial district with the rest of the city.