Mindspace at Madhapur, Hyderabad to undergo major redevelopment
hnknews
Mindspace at Madhapur, Hyderabad, a bustling IT hub, is set for a remarkable transformation in the years to come. The Mindspace REIT Annual Report for the fiscal year 2023 outlines a roadmap for major redevelopment projects, including the redevelopment of Blocks 1A and 1B, buildings 7 and 8, and the creation of the Mindspace Madhapur Experience Centre.
The redevelopment of Blocks 1A and 1B is slated for completion by December 2025 and will add 1.3 million square feet of leasable area, creating contemporary workspaces that cater to the evolving needs of businesses. The redevelopment of buildings 7 and 8, expected to be completed by the third quarter of fiscal year 2027, will add 1.61 million square feet of leasable area and will be built to LEED Platinum Rating and Wellness Certification Standards.
The Mindspace Madhapur Experience Centre, set to be completed by Q1 FY25, will be a hub of activity where work and leisure converge seamlessly. Spanning a leasable area of 0.13 million square feet, the center will feature thoughtfully designed workspaces, food courts, gyms, spas, indoor games, and fine-dining restaurants.
Madhapur is the most preferred micro-market in Hyderabad, consistently garnering nearly two-thirds of net absorption every year. This statistic underscores the enduring appeal of the business park as a prime destination for businesses seeking to establish or expand their presence in the city.
The major redevelopment projects at Mindspace at Madhapur are poised to redefine the skyline of Hyderabad and reshape the landscape of the business district. The new workspaces and amenities will offer businesses and employees a state-of-the-art environment to work, thrive, and relax.
