HYDERABAD: Across the city, people have strong opinions about the growth of property values in the city. “In my opinion property prices will increase in those outskirts of the city where the metro rail and the ORR (outer ring road) have their outreach. For example, while the ORR (Outer Ring Road) connects Shamirpet area to Kondapur we can safely say that Shamirpet, Kompally and Kukatpally become directly connected to roads leading to Hitech city. Therefore these areas grow faster and sooner or later they become hot selling p ro p e r t i e s, ” p ro p e r t y advisor K. Rajeev affirms. “I am confident Hyderabad, which has world-class infrastructure facilities, will gradually be the most attractive destination for large global investors soon. It is good for everybody. There will immediately be an in-flow of investments into the city,” said N Reddy, promoter of a large construction firm in the city.
A hope that is shared and reflected by a real estate services sector dealer also, who said that he thought this decision might be good for the Hyderabad market. “Investors who had been toying with options of pulling out of Hyderabad’s unresolved political issues will now even have a certain level of assurance that they had made the right decision still and in turn we hope more investments will pour in. In effect, we could say that Hyderabad property market is very much like a tree. Just as a tree grows and it bears fruit, where ever there is connectivity those surrounding areas are going to bloom. As such, slowly these areas we mentioned would also boom. Like most of the cities in India, we have a proposity of space left in Hyderabad city. The focus on development has been extreme and now even more so with the new leaders the continuous development of the state and especially its capital Hyderabad would be really imperative.”
Another key factor governing the property market in the city areas is that one might not get sanctions to build easily. Builders are allowed only ground plus four floors. But (builders) get the sanctions in these other parts of the city more easily to go up (skyrise buildings).Therefore it is but natural that the number of properties under development in other parts like Kompally, Kukatpally and Miyapur are growing each month. People who need to be in the city remain in the city. But for many others (majority of the middle class population) who would be connected through metro or ORR there are several options available in terms of apartments and gated communities in Miyapur, Manikonda, Kukatpally, Kompally, Chandanagar and Kokapet.
Focus is now on new emerging areas for growth
“The newer areas which will develop at the fastest rates are Kokapet and Pupallguda. These are the areas in which one should be investing. The presence of IT and Financial Services giants like Microsoft and Cognizant Technologies, ICICI Towers make this area a truly viable investment. In fact this is where all eyes will move gradually for bigger property development and in turn investments,” K Rajeev concludes.