Hyderabad realty needs townships like Magarpatta

The development of a city must be based on the requirements of the people, but not due to artificial demand. The residents will suffer in that case with unusual price escalation and long travel to work places. A Magarpatta-like township must come up near Chandanveli - V Rajashekhar Reddy, President, CREDAI Hyderabad

Hyderabad: Telangana government is giving top priority to the infrastructure development in Hyderabad and its surrounding areas. There is a strong need to build satellite townships in the peripheral areas of the city just like Magarpatta, says V Rajashekhar Reddy, President, CREDAI Hyderabad. Talking to Bizz Buzz, he recommended the new government to encourage the realtors to develop such townships here.

Credai Past President Satish Magar constructed Magarpatta City in 2000-01 on his family name. This is a 450-acre gated community in the Hadapsar area of Pune in Maharashtra, having all facilities including hospitals, shopping malls, restaurants, parks and schools. This township continues to develop itself with newer housing societies.

Unlike a development agreement with the landowners, Satish has initiated revenue sharing with hundreds of farmers, who contributed their land to the company for the project, based on their land holding size. Now, those farmers have become richer and leading a luxurious lifestyle. Similar townships must come up in Hyderabad for a balanced growth of all involved parties, Rajashekhar Reddy

suggested. He appreciated the State government’s latest announcement of promoting Pharma Villages of 2,000-acre each instead of 20,000-acre Hyderabad Pharma City (HPC). He also lauded the idea to develop industrial clusters in different areas of the city. He proposed to consider Ghatkesar, Shabad and Kottur areas for the industrial clusters on a trial basis.

“Around these industrial hubs, lands must be pooled by the government to create social infrastructure like educational institutions and hospitals. This will help in generating employment and housing requirements in those areas. This is a step by step process in the development of the city that can be done only by a visionary leadership,” CREDAI Hyderabad President said.

He further said that the development of a city must be based on the requirements of the people, but not due to artificial demand. The residents will suffer in that case with unusual price escalation and long travel to work places. He anticipates Magarpatta-like township to come up around Chandanveli where some big companies have already poured investments, and a massive development can take place in a few years.