Hyderabad realty on rapid growth path

Chief Minister A Revanth Reddy’s first steps were towards improving the infrastructure and transportation facilities in Hyderabad. He has announced to enhance the radial road connectivity to districts from the city along the RRR. This will hugely help the real estate sector - V Rajashekhar Reddy, President, CREDAI Hyderabad

HYDERABAD: Hyderabad real estate market has been ever expanding in all directions and only sky is the limit for its growth. The skyline has already transformed in the West Hyderabad, and the other parts of the city is witnessing both vertical and horizontal development with several skyscrapers, luxurious villas, gated communities, standalone apartments, premium office spaces, commercial buildings and warehouses.

In the next few years, the city could see unbelievable progress as per the members of the Confederation of Real Estate Developers’ Associations of India (CREDAI) Hyderabad. They are highly ambitious about its transformation into a global city. They urge the investors from all over the world to buy properties in the city to be a part of its growth story.

Speaking to Bizz Buzz, V Rajashekhar Reddy, President, CREDAI Hyderabad, said: “Soon after forming the government, Chief Minister A Revanth Reddy’s first steps were towards improving the infrastructure and transportation facilities in Hyderabad. He has announced to enhance the radial road connectivity to districts from the city along the Regional Ring Road (RRR). This will hugely help the real estate sector.”

“Not only in the peripheral areas, but the core city areas are also likely to get benefitted with the CM’s latest announcements such as the Mega Master Plan 2050 for Hyderabad, revival of Musi beautification project, and Airport Metro Rail line through Old City. If the Musi corridor is connected parallel to the Metro line, the Old city will change into New City,” he said.

Elaborating on how the redevelopment can take place in Old City, Rajashekhar Reddy said: “Once these infra projects are completed, people living in the congested parts of Old City are likely to go for upgrading their homes for decent living standards. Enormous land bank may open up in heart of the city offering better road connectivity, infrastructure facilities and business opportunities.”

“Using the Transfer Development Rights (TDR) scheme, the municipal authorities can go for the road widening, which will allow free traffic movement. The home buyers would love to live in a high-rise building within the city, rather than settling in the outskirts. This will also give more scope for the horizontal expansion of the city beyond the Outer Ring Road (ORR),” he explained.

The Central government has recently approved the transfer of 180-acre defence lands for elevated corridors/skyways near Hyderabad-Nagpur National Highway under the Strategic Road Development Programme (SRDP). This will bring better road connectivity within the ORR. If everything happens as planned, it really helps the growth of the realty and construction industry as well as the overall State.

The government is also planning to bring a number of industrial clusters and pharma villages in between the ORR and RRR to promote the industry across the State. Three core areas are being identified in Nalgonda, Vikarabad and Medak districts. This will generate a lot of job opportunities, automatically resulting in housing requirement in the districts. Townships can be planned there by pooling lands.

CREDAI Hyderabad President further says, “The residential, commercial and retail real estate is booming across the State. The inherent advantages of Hyderabad by virtue of its location, connectivity, climate, availability of skilled manpower have catapulted it to become industrial hub in the last few years. The State government has been giving out a positive message indicating the continuation of the growth story.”

He adds, “The announcement of the Mega Master Plan 2050 has the vision to transform Telangana’s landscape across urban, semi-urban, and rural sectors. These initiatives assure the business community of continued growth momentum and pro industry policy, which will attract fresh investments and jobs to the city. This will definitely help in the growth of the real estate sector.”

Expressing similar views, Susheel Kumar Jain, Managing Director of Namishree Infrastructure & Projects Private Limited, predicted that the Hyderabad real estate outlook will be phenomenal and it will be ever growing. “Post elections, the real estate market in the city is progressing with the support of the stable government and able leadership. We expect the same development going forward,” he said.

Namishree Infrastructure & Projects is participating in CREDAI Hyderabad Property Show for the last 10 years. The company has properties across the city from Kondapur to LB Nagar at a price range of Rs 75 lakh- Rs 3 crore. Susheel Kumar says, “This is the premium property show to display our projects. Every year, we are a part of it. It is a respected event as only the members of CREFAI are participating in this.”

Another CREDAI Hyderabad member – Venu Vinod Reddy, Managing Director, Cybercity Builders & Developers Pvt Ltd, says: “More jobs opportunities are coming up in Hyderabad with the growing number of industries. Fortunately, a lot of leasing activities are also happening in the city. The growth of the city is unstoppable.”

Cybercity Builders & Developers is showcasing two residential ventures and a commercial project in the property show. The company has residential units priced around Rs 1 crore - 2.5 crore. It has been participating in the CREDAI Property Show since its inception. Venu Vinod says, “The response has always been good from the home buyers. We get the best footfalls and good leads every time.”