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Trickle to torrent: Hyderabad realty boom from 58 to 500 projects

Real estate

Trickle to torrent: Hyderabad realty boom from 58 to 500 projects

admin1 November 2, 2017
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After a lull, there are signs of a realty boom in Hyderabad metropolitan region. A decade after the body came into existence, Hyderabad Metropolitan Development Authority (HMDA) is witnessing construction activity in its jurisdiction.From a mere 58 building approvals in 2014, when Telangana was formed, in 2017 the state has already seen 314 projects till October. This is a big leap forward. Going by the trend, HMDA is anticipating a number of projects fructifying by December.And this can touch 500.
HMDA’s jurisdiction spreads over 7,000 sqkm up to Sangareddy on one end and Bhongiri on the other.The authority also gives nod to projects outside GHMC limits. While panchayats give permissions till ground and two floors for residential buildings, HMDA takes care of big projects -three floors and above, those straddling 1,000 sqm and all commercial projects.

 

Officials said 1,000 permissions were given by the authority in past three years, including layout permissions. Most projects have come up in Shankarpally zone limits, including Poppalguda, Manikonda, Shankarpally, Narsingi and Patancheru and Medchal, Kompally, Nizampet, Bowrampet and Bachupally in Medchal Zone areas. East of the city -Ghatkesar, Kesara, Bibinagar, Hayatnagar and Bhongir -has been recording steady growth. Interestingly, Shamshabad zone, which is considered a hot spot for realty boom, is lagging behind in new projects.Similarly, Outer Ring Road (ORR) growth corridor, which is 1km on either side of ORR, is not being soughtafter by developers due to restrictions on development and access roads.

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