Good last mile connectivity must for residential realty growth: Credai Hyd
Apex body to submit proposal in the coming week to CM; Has urged government to consider one per cent relief in stamp duty and additional one per cent for titles registered in the name of a woman family member
image for illustrative purpose
Credai Musings:
- Increase frequency of metro rail service
- All cannot afford to invest in West Hyderabad
- Move to increase the land value
- Relief in stamp duty
Hyderabad: Confederation of Real Estate Developers’ Association of India (Credai) Hyderabad will be submitting a proposal to the Telangana Chief Minister A Revanth Reddy to address challenges related to last mile connectivity, increased metro rail service, and better traffic management in the IT hub of Hyderabad. This will result in increase in sales of residential properties in other areas of the city that offers properties in the budget of professionals, having workplaces in West part of Hyderabad.
“Employees working in the IT hub (Madhapur, Financial District, Gachibowli, Hitec City) are travelling all the way from Uppal or Ghatkesar to their workplace in West Hyderabad. All cannot afford to invest in West Hyderabad, hence they will pick up residential properties in that part of the city where the property cost fits in their budget. For these employees, convenience in the form of travelling to and fro from workplace to their home has to be created,” V Rajashekhar Reddy, president, Credai Hyderabad, told Bizz Buzz.
He further said, the challenge that needs to be addressed is, increase frequency of metro rail service, better traffic management, private shuttle service connecting metro rails to office, and more number of government bus services from metros to other parts of the city.
“Despite Hyderabad having better infrastructure compared to Bangalore, we are feeling the pressure now. Investors are not being invited into the IT hub during peak hours. The traffic congestion and last mile connectivity has to be worked on. After meeting with the related department authorities we have prepared a proposal on these lines, which we are going to submit it to the CM next week,” Reddy added.
