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Finance > Real Estate > Hyderabad Real Estate: Political Willpower Grace Development
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Article rating : 0.00, 0 votes. Author : George Gonigal
The investment of Rs 6,000 crore for an eight lane access controlled expressway by Hyderabad Urban Development Authority (HUDA) is going to boost Hyderabad real estate like never before. The areas along with Shamshabad to Gachibowli are going to be transformed very soon because in the first phase, a 24-km road would be laid from Gachibowli to Shamshabad, which got completed by February 2008.
Routes of Eight lanes Expressway:
Phase 1: Gachibowli to Shamshabad-24 Km
Phase 2: Shamshabad to Pedda Amberpet and Narsingi to Patencheru-60 Km
Phase 3: Patencheru and Pedda Amberpert-70 Km
Andhra Pradesh Government is keen on improving the state of infrastructure in the city and thus in tune with this 33 radial roads would be laid at a cost of Rs 3,000-4,000 crore for better connectivity to the city. Work on four radial roads has already started, in this direction.
New township will be developing along the Outer Ring Road by HUDA. While one project has
already begun at Tellapur, the other one is being planned on about 800 acre of land at Srinagar, near the international airport.
Real estate developers in Hyderabad are optimistic particularly in the residential property segment because of rising household incomes; growth in the services sector would trigger growth in the real estate sector and most important initiatives by Government. However, real estate builders are faced with challenges of higher interest rates, RBI regulatory measures, unclear titles and absence of real estate investment trusts.
Hyderabad government is ready to change the prevailing class of infrastructure and social infrastructure to maintain its metro city status in all aspects. HUDA has also identified land for setting up the digital entertainment city and will soon form a special purpose vehicle for the purpose. It is planning a health city with participation from global players. Huda has also finalised an Ahmedabad-based consultant for preparing a growth plan for the next 20 years.
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