Reliance Trade Tower back in Machirevalu?

Q: What is the current news on the reliance business district and trade tower? Is the proposed project back in action? How will it benefit Hyderabad?

Lokesh Gowda, Hyderabad

24th July 2014

Real estate News in Hyderabad

real estate news hyderabad

reliance infra hyderabad

ambani tower hyderabad

infrastructure projects hyderabad

Follow Discussion

Also see discussions for

Hyderabad Real estate News Real estate News in Hyderabad

Replies (4)

This time around the project is sure to take off. Reliance has also passed through most of the clearences including critical clearences like environmental approvals. The company is also trying to rope in strategic investors once the signing of the project has been done with the state government. The corporation has also taken into consideration most of the reccommendations from EY and has made minor alterations in the interest of early revival of the project. So far this project seems to be extremely promising with a lot of potential and is surely to do wonders for Hyderabad.

Suresh Kota, Hyderabad

25th July 2014

Comment

This project seems to be very prestigious as it can be compared to Burj Dubai and Petronas Tower. But the reason why it could never properly start works was because of the agitation caused by splitting up of Andhra Pradesh into Telenganna and Semandra. But now with a stable government, and a glocal economic environment, the project is extremely viable in a state like Telenganna and is sure to do extremely well here. A lot of people will get employment opportunities because of this project and infrastructural facilities are sure to improve! :)

Kamala Reddy, Hyderabad

24th July 2014

Comment

That's right! The proposed project is said to take place on 76.2 acres of land in the outskirts of Hyderabad, in Machirevalu and on 20 million square feet of built up area according to the project facilitator Reliance Infrastructure. An arm of the government, Industrial Infrastructure Corporation has 11% equity shares in this very special project. Reliance Infra has payed a little over half of the agreed amount of Rs 527 crores in the form of debentures and cash but they couldn't pay the remaining amount, which they are hoping will be waived off. They also first want to implement a business district project and taken on the towers later. This skyskraper project will help Hyderabad get immediate recognition.

Govind Naidu, Hyderabad

24th July 2014

Comment

Yes this project was initially proposed in 2007. The plan of Reliance Trade Tower with its 100 storeys and surrounded by a business district with 30 floor towers did not finally pull through as the 2008 melt down affected any chance of this project seeing daylight. That's such a shame because this one project would have accelerated Hyderabad's growth, almost making it on par with countries like Hong Kong, Singapore and Dubai. But now there's good news because as of the latest news : the Telenganna government is in talks with Reliance to revive this project and has already approves the restructuring plan given by Ernest and Young. Now Reliance Infrastructure is hoping that the government will give them the go ahead for this 7000 crore project.

Krishna Rao, Hyderabad

24th July 2014

Comment