The focus will shift from the heavily developed western part of the city to all parts of the city.
Hyderabad: The launch of Hyderabad Metro Rail’s commercial operations last month will redefine the real estate sector and residential property market in the city.
The focus will shift from the heavily developed western part of the city to all parts of the city. Eighty per cent of properties were concentrated in the western part, mainly because of the IT corridor. But this was unaffordable for the middle class. In fact, even IT employees find the prices here unaffordable now.
Metro Rail connectivity from one end of the city to the other, passing through core areas of the city, is prompting builders to take up new ventures for the middle class along the three corridors.
Builders have lined up projects either side of Nagole-Raidurg, LB Nagar-Miyapur and Jubilee Bus Station to Falaknuma.
Builders are looking to construct apartments along these corridors, within the Rs 30 lakh bracket for 2BHK and Rs 35 lakh bracket for 3BHK flats.
Credai’s former national president and builder, C. Shekar Reddy, said, “Metro Rail will bridge the gap between the western part and other parts of the city as far as property market is concerned. The property market will now flourish on all sides of the city with Metro reducing travel period significantly from one end to the other. It doesn't matter where one stays in the city. If they take Metro Rail, they can reach their destination within 30 minutes for sure without any traffic snarls.”
Builder M. Vijay Sai said, “The Metro Rail corridors on either side will witness huge real estate activity in the coming days. Once Metro Rail is completed, by December 2018, several residential and commercial projects will come up focusing on the middle class.”
Property rentals/leases in Nagole, Uppal, Secunderabad, Begumpet, Panjagutta,
Ameerpet, and SR Nagar have already begun rising as owners are citing Metro connectivity as an added attraction.
