K Raheja Corp has received the Terms of Reference (ToR) for its proposed ₹2,172 crore mixed-use development at IT Hills-3, Madhurawada, Visakhapatnam. The 27-acre project includes a large IT/ITeS commercial campus and nearly 900 residential apartments, further strengthening Vizag’s position as a major IT and real estate hub.
K Raheja Corp Gets ToR for ₹2,172 Crore Mixed-Use Project in Visakhapatnam
A major boost for Visakhapatnam’s IT and real estate sector as K Raheja Corp has received the Terms of Reference (ToR) for its proposed ₹2,172 crore mixed-use development at IT Hills-3, Madhurawada.
The ambitious project will be developed across 27 acres with a total built-up area of approximately 2.9 million square feet, combining premium office spaces and residential towers.
IT/ITeS Commercial Development
The commercial component, branded as Commerzone, will occupy 14.85 acres.
Project highlights include:
- 4 office towers
- Configuration: Ground + 11 floors
- Around 2.5 million sq ft of IT/ITeS office space
The project is expected to attract leading technology companies and create significant employment opportunities in Visakhapatnam.
Residential Development
The residential portion will span 12.16 acres and feature:
- 5 residential towers
- Configuration: Ground + 14 floors
- Around 900 premium apartments
The residential development aims to complement the commercial campus by offering modern housing within the same integrated township.
Boost for Vizag’s Growth
The proposed mixed-use development is expected to strengthen Madhurawada’s IT corridor and further establish Visakhapatnam as one of India’s emerging technology and investment destinations.
📲 Follow Vizag TV on Instagram for the latest Vizag news, infrastructure updates, and breaking developments.
FAQ
What is the investment value of the project?
The proposed mixed-use development has an estimated investment of ₹2,172 crore.
Where is the project located?
The project is planned at IT Hills-3, Madhurawada, Visakhapatnam.
How many residential units are planned?
Approximately 900 apartments are proposed.
What commercial facilities are included?
The project includes four IT/ITeS office towers with about 2.5 million sq ft of office space.