Malls are coming up at a rapid pace in newly developed areas of Hyderabad. In the next two years, new residential areas will also have facilities on par with the main city. people in smaller neighbourhoods will no longer have to visit general stores for their everyday shopping. With the advent of malls in every part of the city, shopping was never as convenient. In a bid to cater to the changing needs of people, The real estate and infra companies are now focussing on malls and multiplexes. real estate and infra companies say, residents of their townships and people in the nearby neighbourhoods can get the best of everything under one roof.

Some companies also expect that the commercial activity in the surrounding areas, will enhance the value of the residential projects, ensuring returns on the investments of property buyers. Many companies, including Lanco, GVK, Manjeera, DSL Infrastructure Private Limited, have already taken up projects in city. The Lanco group is coming up with 16 theatres in its multiplex as part of the Lanco Hills project at Manikonda. “We are investing Rs 650 crore for developing the multiplex with 2 million sft by the end of 2011. It will be the biggest multiplex in South-East Asia,” said S.Pochender, CEO of Lanco Hills project. GVKOne, which is being constructed with an investment of Rs 100 crore in Banjara Hills will house fashion labels, hypermarket, food courts and a 5-screen multiplex.

“Our project will provide a wonderful experience to people,” says Isaac George, CFO, GVK. DSL Infrastructure and Space Developers Private Limited, has already begun the construction of a 4-screen multiplex in 5 acres of land in Uppal, anticipating a huge response from residents of surrounding areas, including LB Nagar, Dilsukh-nagar and Ramanatapur. The construction work is likely to be completed in 18 months. “Multiplexes will rule the entertainment industry as the spending power has increased. More over, viewers are giving top priority to quality experience,” said Manoj Agarwal, managing director of DSL Infrastructure. Manjeera Projects has acquired six-and-a-half acres of land for the construction of a 5 screen-multiplex along with a shopping mall and residential project.

“people who live on the outskirts of the city need not go too far for their entertainment needs once this multiplex project is completed,” said G.Yogananad, managing director of Manjeera Projects. these companies are also giving top priority to parking, since it has become a major problem in the existing shopping malls and multiplexes. “GVKOne provides parking space for more than a 1000 cars,” said P. Surya Prakash, MD of Satyavani Projects, consultancy firm of GVKOne.