Hyderabad: After the completion of the Outer Ring Road (ORR) in April and the Hyderabad Metropolitan Development Authority’s decision to lay 33 radial roads and a regional ring road (RRR), that would connect the city and other districts of Telangana, the outskirts of Hyderabad have witnessed a massive real estate boom in the past few months.
This surge in real estate activity was evident in the summary report prepared by the municipal authority.
According to the report, there has been a sudden rise in the number of building permissions, gated communities, layout permissions and issuance of NOCs during the current financial year. It shows almost 200 per cent growth when compared to the previous financial year.
The HMDA, which had accorded 1,036 permissions during the previous financial year, has already issued about 1,495 permissions till July and about 1900 till August.
Officials claimed that the government’s decision to provide drinking water under Mission Bhagiratha in peripheral areas, adjoining villages along ORR, setting up commercial and other establishments in the city outskirts have also contributed to the massive growth.
According to HMDA sources, increasing connectivity and providing basic civic amenities have been the prime reason for real estate growth. Construction of RRR, radial roads, providing drinking water facilities to peripheral areas and adjoining villages along ORR and completion of the long pending ORR stretch at Kandlakoya and the state government’s decision to set up transit oriented growth centres were major factors for the rapid development activity in the city outskirts.
A senior HMDA official said that besides the state government's decision, speedy disposal of permissions with the Development Permission Management System (DPMS), the market condition too has played a major role.
He said that the HMDA citing the real estate boom was now planning to focus on uniform growth and development of mini cities around the city.
Explaining about the factors that influenced the sudden rise in real estate, he said the Centre had given the green signal to construct around 300 km RRR with '5,500 crore, which would connect the major National Highways like NH-9, NH-7 and NH-202. Once it is operational, those residing on the outskirts of the city need not travel to the city to get on the highways. This decision too has had a major impact.
“The HMDA has already issued 1,495 permissions which includes open plots, buildings permissions (regular & TSIPASS), Layout with housing and gated communities and no objection certificates,” he added.
The HMDA official further said that the municipal authority has seen a sudden slump pertaining to issuance of permissions in August due to sever issues and migration of its database to state data centre. However, the official said that there has been 200 per cent improvement when compared to the previous financial year. The HMDA has issued about 1900 permission till August end.
