A five-star hotel and trade centre is set to dot the skyline of Hyderabad Knowledge City, Raidurgam here, in the next few years, with the Telangana State Industrial Infrastructure Corporation (TSIIC) setting in motion the process recently for the more than ₹500 crore project by floating a request for proposal.
Nodal agency of the State government for providing industrial and allied infrastructure, the undertaking has earmarked about 3 acres for the project in proximity to Mindspace rotary, Raidurg Metro Station, IKEA store, IT parks and the landmark T-Hub 2.0 structure in the area that morphed in recent years from primarily rocks to a preferred address for new age firms.
The project will consist of a 200-key 5-star hotel with built-up area of around 3.63 lakh sq ft; 2.42 lakh sq ft of Grade A commercial space for the trade centre; and 0.61 lakh sq ft ground floor comprising banquet hall, retail and grand lobby spaces to cater to the hotel as well as the trade centre.
TSIIC is inviting bids from reputed 5-star deluxe or its global equivalent hotel brands and/or developers having MoU/MoA/LoI with such hotel brands currently not present in Hyderabad.
The strategic location of the project is expected to get a boost when the Metro line to Hyderabad international airport also takes shape in the neighbourhood, an advantage that Hitex, the sought after convention and exhibition centre in the city for major events now, lacks. Notwithstanding this, the vast Hyderabad International Convention Centre has hosted several major conferences, bringing about 4 lakh delegates on an average every year to the city.
According to the TSIIC document, a 15-floor tower with building height of 60 metres is conceptualised with 17 metres setback on all sides of the plot. With a floor height of 4 metres for the Grade A commercial space and a 3.3 metres for hotel, maximum achievable build up area at the project site is approximately 6.66 lakh sq ft, which with parking would be 8.86 lakh sq ft.
The city has been playing host to scores of global events every year and also boasts of good hotel and hospitality infrastructure with nearly 33 registered hotels (5,600 rooms) and over 2,300 unregistered hotels (21,000 rooms), TSIIC said, seeking to highlight how the project will contribute to enhancing Hyderabad’s appeal as a MICE location.
The bidder offering the highest development share to TSIIC will bag the project, whose estimated cost, exclusive of land value, is ₹500-550 crore. The developer needs to hand over minimum 1.86 lakh sq ft built up area or more as per the bid parameter in the trade centre to the undertaking within 30 months of the joint development agreement date. The hotel is required to be operationalised within 48 months of the agreement. While the RFP was issued last week, November 13 has been set as the bid opening date.
