State government takes new Tech Mahindra building on lease

Thursday, December 22, 2016

Andhra Pradesh Electronics and IT Agency of State government has taken the new building of Tech Mahindra on lease for allotment of space with plug-and-play facilities for IT companies.

The building was located in the heart of the city and of the 11 floors including parking space, ground plus four floors are ready for allotment. Once the total facility is refurbished with the required facilities, it can provide seating capacity for 2,200 employees. The APEITA CEO Srinivasa Murty said that as on date, the space had been allotted to IT companies with capacity of 300 seats and foresaw a bright future for Visakhapatnam to emerge as a destination for investment in IT.

The State government has already taken on lease space in a new building belonging to VUDA at Seethammadara and a private building housing Pantaloons showroom on the VIP road. The space has been allotted to IT units, most of them started by Telugu NRIs from the United Stats and other countries.

Mahati Software building at Rushikonda was recently converted into FinTech Tower and allotted to Paytm and other companies.

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