Raheja Mindspace

{{Short description|Brand of commercial and industrial parks}}

{{Infobox company

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{{Use dmy dates|date=November 2019}}

{{Use Indian English|date=July 2018}}

Mindspace is a brand of commercial and industrial parks established by K Raheja Corp.{{Cite news|url=https://www.livemint.com/Companies/CBvE5TEixvs8pJOjxsSoFI/Raheja-to-invest-Rs2000-crore-on-commercial-space-in-Navi-M.html|title=Raheja to invest Rs2,000 crore on commercial space in Navi Mumbai|last=Sapam|first=Bidya|date=2016-05-03|work=Mint|access-date=2018-07-14}} Located in Mumbai, Hyderabad, Chennai and Pune, the industrial hubs offer offices, residential towers, entertainment facilities and other retail businesses.[https://mindspaceindia.com/downloadable-docs/Mindspace-Fact-Sheet.pdf Unknown]{{Dead link|fix-attempted=yes|date=March 2022}} By 2016, the parks developed by Mindspace housed more than 50 businesses in India, including Accenture, L&T Infotech Ltd, Cognizant Technology and Capegemini Group.{{Cite web|url=https://www.livemint.com/Companies/CBvE5TEixvs8pJOjxsSoFI/Raheja-to-invest-Rs2000-crore-on-commercial-space-in-Navi-M.html|title=Raheja to invest Rs2,000 crore on commercial space in Navi Mumbai|last=Sapam|first=Bidya|date=2016-05-03|website=Mint|language=en|access-date=2019-04-14}}

The buildings by Mindspace have been minimal environmental impact, which has helped some of its projects to receive recognition, like Madhapur, which was recognized with a gold rating certificate from USGBC.{{Cite web|url=https://www.constructionweekonline.in/k-raheja-corp-achieves-leed-gold-rating-by-usgbc-for-mindspace-madhapur|title=K Raheja Corp achieves LEED Gold Rating by USGBC for Mindspace Madhapur|website=Construction Week Online India|language=en|access-date=2019-04-14}} K Raheja Corp also has millions of square feet of building space in green commercial places which have been certified by the Indian Green Building Council (IGBC) and Leadership in Energy and Environmental Design (LEED).{{Cite news|url=https://www.hindustantimes.com/real-estate/developers-go-green-with-sustainable-design-tech-in-commercial-buildings/story-wRt80cwN6PYIO0ni1soIfM.html|title=Developers go green with sustainable design, tech in commercial buildings|work=Hindustan Times}}

Raheja Mindspace also operates Mindspace Business Parks, a real estate investment trust (REIT).{{Cite news |last=Babar |first=Kailash |date=17 January 2022 |title=Mindspace REIT to raise up to Rs 500 crore through issue of NCDs |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/companies/mindspace-reit-to-raise-up-to-rs-500-crore-through-issue-of-ncds/articleshow/88952509.cms |access-date=2022-05-04}}

Mindspace Malad, Mumbai

In 1999-2000, K Raheja Corp developed a suburban park Mindspace, Malad, which was spread across 110 acres.{{Cite news|url=https://economictimes.indiatimes.com/markets/stocks/news/blackstone-group-eyes-15-per-cent-in-k-raheja-portfolio/articleshow/57484683.cms|title=Blackstone Group eyes 15 per cent in K Raheja portfolio|last=Babar|first=Kailash|date=6 March 2017|work=The Economic Times|access-date=2019-04-05}} By setting up the technology park in the suburbs, Mindspace was able to meet a huge portion of the commercial space requirement demanded by the IT, ITES industries in Mumbai.{{Cite web|url=https://www.rediff.com/money/2003/aug/09spec4.htm|title=Mindspace, a suburban success|website=www.rediff.com|access-date=2019-04-14}}

Tenants include JP Morgan Chase and Firstsource. Mindspace Malad was originally designed by Skidmore Owings & Merill LLP.{{Cite web|url=https://mindspaceindia.com/Mindspace-Malad-MMR.html|title=Mindspace {{!}} Malad, MUMBAI (MMR)|website=mindspaceindia.com|access-date=2019-04-05|archive-date=13 June 2018|archive-url=https://web.archive.org/web/20180613112627/https://mindspaceindia.com/Mindspace-Malad-MMR.html|url-status=dead}}

Mindspace Madhapur, Hyderabad

File:Qualcomm technologies building in Mindspace, Hyderabad.jpg building in techno-park]]

Raheja's Mindspace developed its first project in Hyderabad on 110 acres of land allotted by APIIC.{{Cite news|url=https://economictimes.indiatimes.com/hyderabad/mindspace-cyberabad-plans-to-expand/articleshow/1999998.cms|title=Mindspace Cyberabad plans to expand|date=17 September 2006|work=The Economic Times|access-date=2019-04-05}} The techno-campus-cum-park plan in Madhapur was executed in 2004, through a joint venture between the Raheja Group and Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC).{{Cite web|url=https://www.thehindubusinessline.com/2003/08/30/stories/2003083001751700.htm|title=The Hindu Business Line : Raheja group to develop Mindspace techno-campus park in Cyberabad|website=www.thehindubusinessline.com|access-date=2019-04-05}}

With 21 buildings, Mindspace Madhapur is Hyderabad's first and largest Indian Green Building Council Gold Rating Campus, with systems for monitoring indoor air quality, managing rainwater systems, sewage treatment plants, solar panels, etc. The 4-acre reserve green area in Mindspace Madhapur has 3,500 trees within the campus, and consists of an open-air theatre, and tennis courts.{{Cite news|url=https://www.thehindu.com/life-and-style/inside-mindspace-the-first-commercial-business-park-in-hyderabad-to-receive-indian-green-building-councils-gold-rating/article26979769.ece|title=Worth more than gold|last=Dundoo|first=Sangeetha Devi|date=29 April 2019|work=The Hindu|access-date=2019-06-13|language=en-IN|issn=0971-751X}} In April 2022, a one km long skywalk was opened that connects the Raidurg metro station to the Raheja Mindspace campus.{{cite web|url=https://www.newindianexpress.com/cities/hyderabad/2022/apr/21/walkingtheir-talk-2444429.html|title=Walking their talk}}{{cite news|url=https://www.thehindu.com/news/cities/Hyderabad/raidurg-metro-service-begins/article30118495.ece|title=Raidurg Metro service begins|newspaper=The Hindu |date=29 November 2019 }}

Mindspace Pocharam, Hyderabad

Mindspace Pocharam is an SEZ & IT Park which was launched in 2006, built in stages and for an eventual built-up space approx. 6 million sft.{{Cite news|url=https://www.business-standard.com/article/economy-policy/mindspace-pocharam-to-be-launched-on-may-26-106052401028_1.html|title=Mindspace Pocharam to be launched on 26 May|date=24 May 2006|work=Business Standard India|access-date=2019-06-13}}

Mindspace Shamshabad, Hyderabad

Mindspace Shamshabad is a business district which is spread across 305 acres, which consists of 10 buildings of G+three floors. With 6 completed, the remaining 4 buildings are set to be completed in 2021.{{Cite web|url=https://www.projectstoday.com/News/K-Raheja-IT-park-Mindspace-Phase-II-by-2021|title=K Raheja IT park 'Mindspace' Phase-II by 2021|website=www.projectstoday.com|access-date=2019-06-13}} Located near Rajiv Gandhi International Airport, Mindspace Shamshabad will be connected by the Hyderabad Metro.{{Cite news|url=https://www.thehindu.com/news/national/telangana/all-metro-corridors-to-terminate-at-shamshabad/article26763625.ece|title=All metro corridors to terminate at Shamshabad|date=7 April 2019|work=The Hindu|access-date=2019-06-13|language=en-IN|issn=0971-751X}}

Mindspace Gandhinagar

Mindspace Gandhinagar is Gujarat's first IT Special Economic Zone, and commenced operations in 2012, and houses multiple multinational corporations in the IT sector.{{Cite news|url=https://www.business-standard.com/article/technology/two-it-mncs-to-set-up-units-at-mindspace-soon-111062300101_1.html|title=Two IT MNCs to set up units at Mindspace soon|last=Umarji|first=Sohini Das & Vinay|date=23 June 2011|work=Business Standard India|access-date=2019-06-13}}

Mindspace Bengalaru

Located in Whitefield's EPIP Zone, Mindspace Bengalaru is workspace featuring several modern amenities and facilities.{{Cite web|url=https://www.mindspaceindia.com/mindspace-bengaluru/|title=Mindspace Bengaluru|website=Mindspace|language=en-US|access-date=2019-06-13}}

Developer

K Raheja Corp is a real estate development company dealing in commercial, residential and retail projects. They are the developers of Mindspace, a commercial real estate project in major metropolitan cities of Mumbai, Hyderabad, Chennai and Pune. The developers have received gold rating certification from the US Green Building Council (USGBC) for Mindspace commercial business park in Hyderabad.{{Cite web|url=https://telanganatoday.com/raheja-corp-gets-usgbc-leed-gold-rating-for-mindspace|title=USGBC LEED Gold Rating for Mindspace}}

Controversy

There were allegations that Raheja group had caused a dilution of the Andhra Pradesh government's stake in the Mindspace project. The stake was later restored to 11 per cent in accordance with the original memorandum of understanding.{{cite news|url=http://www.hindu.com/2011/02/20/stories/2011022056870100.htm|archive-url=https://web.archive.org/web/20110220193652/http://www.hindu.com/2011/02/20/stories/2011022056870100.htm|url-status=dead|archive-date=20 February 2011|title=Register case against State officials, ACB told|work=The Hindu | location=Chennai, India|date=20 February 2011}} Negotiations in 2011 between the Raheja group and APIIC (and the Andhra Pradesh government) sought to restore the state's share in the ownership and rental revenues from the project.{{cite news|url=http://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/article2733778.ece|title=APIIC board defers decision on Rahejas' offer|work=The Hindu | location=Chennai, India|date=21 December 2011}}{{cite news|url=https://timesofindia.indiatimes.com/city/hyderabad/Emaar-to-restore-APIIC-stake-in-JV/articleshow/11187273.cms|archive-url=https://web.archive.org/web/20140204015113/http://articles.timesofindia.indiatimes.com/2011-12-21/hyderabad/30542166_1_apiic-board-apiic-chairman-emaar-group|url-status=live|archive-date=4 February 2014|work=The Times of India|title=Emaar to restore APIIC stake in JV| date=21 December 2011}}{{cite web|url=http://www.ishaanrealestate.com/pdf/Trade-Update-200911.pdf|title=Ishaan Real-estate Portfolio Update|publisher=Ishaan Real-estate|url-status=dead|archive-url=https://web.archive.org/web/20120426074408/http://www.ishaanrealestate.com/pdf/Trade-Update-200911.pdf|archive-date=26 April 2012}}[http://www.rahejavanya.co.in/ Raheja Vanya] {{Webarchive|url=https://web.archive.org/web/20230813061335/https://www.rahejavanya.co.in/ |date=13 August 2023 }} - New Residential Project by [http://www.raheja.com/ Raheja Developers]

See also

References