Telangana clocks spurt in demand for data centres, warehouses
KTR opens Knight Frank India’s new office in Hyd; GSDP rises to `6.63 trn
Hyderabad: At a time when the conventional real estate asset classes struggle to get back on their feet on account of the ongoing pandemic, two new segments are witnessing a sudden spurt in demand – data centres and warehouses in Telangana. The forced shift to e-Commerce to enable contactless business and to fulfill social distancing norms has created a need for more warehouses and logistic centres across the country, according to a latest report by Knight Frank India.
"Hyderabad being the distribution hub in Telangana is also seeing increased traction in the warehousing segment. Telangana is among the very few states in India to have an independent data centres policy, as early as 2016. The state has already garnered an investment of Rs 25,000 crores for data centre mega projects. Recently, Flipkart opened its data centre in Hyderabad, second after Chennai, to support its core operations," says the report.
Telangana Industry and IT Minister KT Rama Rao on Wednesday inaugurated Knight Frank India's new office in Dallas Centre, Knowledge City, strategically located in the premier IT-Hub of Hyderabad.
On the occasion, KTR along with IT secretary Jayesh Ranjan and Knight Frank India's CMD Shishir Baijal, released the latest flagship research report on 'WFH, #WorkfromHyderabad.' The report showcases the changing face of Hyderabad as a leading city in India, with an impeccable investment opportunity. The report presents a comprehensive analysis of Telangana and Hyderabad city, with subject to economy and development, infrastructure, and real estate market.
KTR said: "As we continue to move ahead with developments and a new business model, the state's principle and philosophy remain the same. Telangana, with its immense investment potential, has attracted several global investors in a short period and will continue to do so to make more sustainable and disruptive technologies within the state. Hyderabad has transformed into the new tech hub of India in the last six years. IT sector presence in the city has also transitioned from mere backend operations to primary production and product development services. The city has also seen significant infrastructural development in the recent past, and many are underway for construction. The Mass Rapid Transit System provides robust connectivity in the city. The city's metro rail project has a distinction of being the world's largest metro project in the public-private partnership model."
According to the report, since the formation of the state, Telangana's real GDP significantly rose to Rs 6.63 trillion in 2019-2020 from Rs 4.16 trillion in 2014. The compounded annual growth rate (CAGR) of 8.08 per cent is higher than the national real GDP CAGR of 5.7 per cent for the same period.