Raheja Group plans Rs 2,172-cr investment in Vizag
image for illustrative purpose
Visakhapatnam: After Google announced a $15-billion investment in a data center hub in Visakhapatnam in partnership with Adani Group and Airtel, Raheja Group has come forward with a Rs2,172-crore plan to develop IT and commercial towers.
K Raheja Corp is in the advanced stage of completing construction of a work-class mall in the city on land leased out by Visakhapatnam Port Authority (VPA).
K. Raheja Group is establishing Inorbit Mall, said to be the largest with an estimated investment of Rs600 crore in an area of six lakh square feet. It is expected to be ready next year. This will be the first Inorbit Mall in Andhra Pradesh.
“Get ready Vizag! We are thrilled to announce an incredible journey that will redefine your shopping and leisure experience,” Inorbit Mall stated on a social media posting before kick-starting work on the mega project. According to informed sources, Raheja Group which is in talks with the government for getting suitable land to build a Mindspace-type IT park, is interested to invest Rs2,172.26 crore in creating commercial and residential complexes for IT companies in Madhurawada IT Hill No. 3.
