Godrej Properties is looking at developing 34 acres of land purchased from Rallis India "into a six million square foot IT Park (Information Technology) or alternatively an IT special economic zone, states Hindustan Times (November 4, 2006).
Bought at a price of Rs 57 crores from the Tata group company, the property is situated in the suburbs of Patancheruvu where earlier the Rallis agro-chemical unit was situated in Hyderabad, states the report. Touching the Hyderabad-Mumbai National Highway-9, and the proposed Shamshadabad Airport, Godrej Properties said they will market the project "as part of Hyderabad’s booming infotech layout,” states the report.
This is the company’s first project in the Andhra Pradesh capital, the report quotes Godrej Properties’ managing director Milind Korde. The write up states this is also the first major land acquisition by Godrej Properties as the company earlier had preferred joint venture deals. ...