Hyderabad is well and truly on a growth path as evidenced by the slew of infrastructure, commercial, and residential projects that are rapidly changing the city’s personality. Hyderabad’s real estate stayed afloat during some of the worst times the industry has faced due to the unflagging numbers of migrants and the government’s equally enthusiastic response towards developing the city’s infrastructure to accommodate continual expansion.
In what is one of its most ambitious plans yet, Hyderabad revealed the blueprints of the Look East Policy (LEAP) in 2019.
It aims to develop the Eastern zone of the city to ease the pressure of unbridled growth in the West zone, which has considerably burgeoned, reaching a saturation point. Apart from various incentives benefitting landowners and real estate investors, the proposal also outlines plans for infrastructure projects that would add momentum to the development in the area.
However, in addition to LEAP, currently, multiple ongoing projects are set to change Hyderabad’s real estate market. Let’s take a look at some of them and their expected impact.
Hyderabad Metro
Hyderabad Metro is the second most extensive and longest operational network after Delhi metro. It opened up with the 30-kilometre stretch from Miyapur to Nagole in 2017 and has covered more over the last two years ending with the recent addition of an 11-kilometre stretch that connects Hyderabad with Secunderabad.
The accelerated development of the Hyderabad Metro has been a boon to some of the areas along the line. Take Jalpally, for instance. Located close to Falaknuma Palace, the Jalpally municipality was once filled with fruit farms. But with the new line that is soon to be extended to Falaknuma, areas in Jalpally have turned into a beehive of activity for property builders and homebuyers. Most of the demand has been driven by NRIs who have been buying properties for investment particularly in neighbourhoods like Tukkuguda that lie close to the Srisailam Highway.
Located just seven kilometres away from the airport and 27 kilometres away from Hyderabad, Tukkuguda is witnessing a meteoric rise in demand as more reputed builders introduce projects at affordable rates.
Secunderabad Nagpur semi high-speed rail
It was in 2016 that the idea for setting up a semi high-speed rail network between Secunderabad and Nagpur came about with the visit of a Russian Railways delegation. Progress has been slow, but in December 2019 the Southern Central Railway (SCR) sent a feasibility report to the Railway Board hastening the project, outlining the advantages, which include reducing travel time to just five hours from the current nine hours.
Areas like Kompally are already gearing up for the trains as real estate development has begun expanding in anticipation. Located along the NH-47 and connected to the Outer Ring Road (ORR), Kompally is already easily accessible from Gachibowli and the airport. However, it has witnessed drastic changes in recent years, enticing residents with upcoming infrastructural improvements as well as affordable pricing.
Regional Ring Road
In 2018, Hyderabad’s Regional Ring Road (RRR) project was given the go-ahead by the Central government in a bid to ease congestion and promote development. The proposed project would comprise 300 kilometres of roads connecting important National Highways, including NH-9, NH-7, and NH-202. Above all, it would enable people to bypass the crowded city centre entirely to access the highways. The RRR will also connect multiple towns and villages, and accelerate the progress of many satellite cities.
Gajwel is just one of the many towns that are witnessing a spurt in real estate activity with the RRR slated to come up soon. Located about 35 kilometres away from the Outer Ring Road, Gajwel is set to become busier as other new projects like the Horticulture University, Forest College and Research Institute, and the Integrated Officer Complex soon come into being.
The government is already focusing on developing social infrastructure like hospitals and educational institutions, and Gajwel is slowly drawing the attention of many commercial investors as well as property developers.