The plotted development projects which have been in limbo for quite some time have gained momentum in Hyderabad with a spurt in the volume of enquiries and the capital values inching high marginally in select micro markets, thanks to a stable government and new industrial developments such as Information Technology Investment Region (ITIR), Pharma City and Education Hub.
The ITIR project alone covers most of the national highways peripheral areas with a massive investment of Rs 2.5 lakh crore over a period of time. The Pharma City coming up on a sprawling area of 8,000 acres on SriSailam highway will generate employment opportunities for 2 lakh people due to surge in demand for technical staff thus creating a population of 20 lakh people in due course.
IT majors like TCS, Convergys and CTS are coming up with expansion plans in Adibatla and projects have already commenced operations and it is said that 5,000 people are already deployed in and around the area.
It is no wonder that land demand is up towards areas like Adibatla, Kollur, Mokila and Warrangal highway. With Vijayawada getting a boost due to the Andhra Pradesh government's efforts to develop as a global city, commercial activities on Vijayawada highway between Hyderabad and Vijayawada are expected to gain momentum resulting in land development abutting the highways.
Land prices are marginally up by 5 per cent in areas en route to Ibrahimpatnam and outer ring road vicinity. Land prices vary from Rs 1,400 to Rs 3,500 per sq yard in areas en route to Ibrahimpatnam where a number of plotted development projects by promoters like Suchir India, Chalapathi Estates and Zonah Developers offer multiple options to investors. In areas like Brahmanapalli, rates vary from Rs 2,000 to Rs 2,700 per sq yard.
Close to Ibrahimpatnam, the government has already allotted lands to TCS and CTS for setting up their operations. The aero park, an SEZ, which is closer to outer ring road and Ibrahimpatnam-Adibatla corridor, is already operational which is again a major development that will increase the traffic flow and the setting up of ancillary units in the coming months.
With political stability improving the sentiment of the city, there are better days for land developers and the time is appropriate for investors to enter the market to strike bargain deals.
(The article is written by V Nagarajan. He is a property consultant and NRI columnist on real estate investment to Indian and overseas publications.)
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