Sri City that is spread over a sprawling 7000 acres of land in SEZ and area of domestic tariff is known for its integration of various business projects. Now that it has a number of well known industries under its banner with a large number of people working here, it is all set to improve its infrastructure by developing residential colonies. It is believed that Sri City plans to have close to 50,000 housing units for the project.
Sri City is located in Andhra Pradesh and is situated on the National Highway. It is just 55 km away from the metropolitan city of Chennai. With close to 142 companies already having opened shop in its premises, it has 90 manufacturing units that employ close to 25000 people. The remaining companies are still in their development stages and will start functioning soon.
Sri City is not just home to Indian companies but also various foreign companies like ISUZU from Japan, Mondelez of USA, Alstom of France, Foxconn of Taiwan and Danieli from Italy. It is believed that about 100 international companies from 26 countries have set foot into Sri City with an aim to enhance their business.
The success of this industrial park can be contributed to the fact that it is close to the metropolitan city of Chennai. Also, its proximity to the ports in Andhra Pradesh and Tamil Nadu has made all the difference.
According the Ravindra Sannareddy who is the MD of Sri City, they are thinking of inviting real estate developers to design houses. In their residential projects, they plan to have houses of different sizes, ranging from 1BHK to 4BHK. He further added that their idea is to provide easy commutation to work to all the employees working within Sri City. They are even planning to develop educational institutions, training centers and other organizations that will improve the whole infrastructure of the city making it a “city in the true sense”.
MD Sannareddy stated that Sri City has completed its first residential project that comprises of 100 houses and are now looking out to associate with builders to help them develop different types of houses to accommodate the people of different social strata who are working within its premises.
Sri City is home to the International Institute of Information Technology, popularly known as IIIT. There are more plans in the pipelines to come up with educational institutions and centers for skill development that would beneficial to the residents and employees living and working here. They are also planning to expand the residential colonies with time as there is enough space to house 50,000 houses within Sri City.