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Finance > Real Estate > Metro Rail to Drive Hyderabad Real Estate
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Article rating : 0.00, 0 votes. Author : geogonig
On the lines of the Delhi Metro Rail, the government of Andhra Pradesh is all set to introduce the metro rail system in Hyderabad. At the cost of Rs 7,986 crore, the project would help decongesting the traffic along the stretch of 60 kms.
In phase–I, the metro will cover areas such as Kukatpally, Erragadda, S.R.Nagar, Ameerpet, Punjagutta, Erramanzil, Khairatabad, Secretariat and Malakpet. According to experts, real estate prices are likely to increase by 10-50 per cent in these areas, in the next six months.
Similarly, the project catchment areas of Miyapur and Habsiguda are also likely to gain momentum in transactions and price escalations thereof. Apparently, these areas have become favorite residential spot for Hyderabad real estate developers and a host of new property projects are coming up in these areas fast.
With a population of about 7 million, Hyderabad is grappling with increasing traffic congestion due to fast growing IT, ITES,
pharma, and various other manufacturing and business activities, and the new Mass Rapid Transit System (MRTS) would be a big boon for the city.
Lack of an efficient, reliable and comfortable Public Transportation System (PTS) is resulting in rapid growth of personalized vehicles (1.8 million vehicles, with an addition of 0.2 million per annum), leading to frequent traffic jams and higher pollution levels in the city. Out of the 7.0 million motorized trips that are made in the city every day, only 40% (2.8 million trips) are by PTS (mostly by buses run by APSRTC, a Govt. of AP owned company) and there is a need to take this share to 70% mainly by creation of MRTS.The situation is visibly casting negative impact on real estate markets of Hyderabad. The MRTS is what the State government has come out as solution.
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