Hyderabad: Even as the Andhra Pradesh government is trying to overcome hurdles over land acquisition for the capital, realtors have got into the act.
The surrounding areas of the AP capital region, which is devoid of a single gated housing community, would soon have high-end living space.
Builders have already rolled out projects to develop luxurious ventures targeting the elite.
Developer Malaxmi Property Venture Pvt. Ltd is coming up with a huge project with over 100 high-end luxury communities at Nidamanuru, which is over 7 km from Gannavaram Airport.
“The project would have over 40 tower units, part of 90 high-end luxurious communities,” said M. Tirumala Srinivas, director, Malaxmi property ventures.
The developers are of the opinion that these high-end spaces strategically being developed in the proximity of the airport and the capital region would be in great demand.
Y. Harish Chandra Prasad, chairman, Malaxmi Group said, “With several government departments set to be relocated from Hyderabad and many organizations ready to roll out their projects, we will be in need of such spaces.”
Similar ventures by Anubandhana, Navya, Abhinandana, RK, Tirumala are also underway in targeting the population likely to turn up due to capital formation.
Experts from the Confederation of Real Estate Developers Association and APREDA look at the first five years of the capital region and say the infrastructure would have immense potential to grow, which would be followed by manufacturing and other sectors.
