Is it viable to build new cities around Hyderabad?
Bizz Buzz spoke to realty experts on KTR’s plan to build new city between ORR and RRR as well as Revanth Reddy’s plan for a new city in Rachakonda area
We should not take election statements seriously. Let us wait and see. However, the ideas are good. As it is not easy to buy an individual house in gated communities within the city, middle-class people are looking for open plots up to RRR - C Prabhakar Rao, TBF President
Realty Bytes
Majority realtors not expecting new cities in near future
Building new cities require decades of focused work
Developers awaiting lands under GO:111 to open up
Abundant supply of land between the ORR and RRR
Hyderabad: At a time when freebies are dominating the political discourse ahead of the upcoming Telangana Assembly elections scheduled for November 30, two top political leaders from ruling Bharatiya Rashtra Samithi (BRS) and its nearest rival, the Indian National Congress, took pains to reveal what they would in Hyderabad if they are voted to power.
In a recent meeting with the members of the Telangana Builders Federation (TBF), BRS Working President KT Rama Rao said that a new Hyderabad will be developed between the Outer Ring Road (ORR) and the proposed 330-km Regional Ring Road (RRR). Earlier, Telangana Congress President A Revanth Reddy also announced his plan to build a new city by pooling land in Rachakonda.
The talk of development even if it’s small one, is a good sign indeed. But are these promises feasible?
Bizz Buzz spoke to the real estate experts in the State to know whether it is viable to develop new cities within Hyderabad or not. They feel that though not impossible, it is not easy to implement such promises. However, they lauded the vision of these political leaders and shared their suggestions to improve the real estate activities in that direction.
“Though it is not impossible to build a new city, it may take some decades. As there is so much land available within the ORR limits, why would anyone buy a plot beyond the ORR? The industrial growth engines must first be developed in the areas between the ORR and RRR. When jobs are created, the demand for housing comes in,” GV Rao, President of Telangana Developers Association (TDA), told Bizz Buzz.
He said, “the ORR has paved the way to IT-centric growth in the West Zone and other areas. Similarly, the RRR must be developed keeping focus on all the sectors. Only if the non-polluting industries are established, the residential townships will come up there. It took more than a decade for the construction of the ORR. I am sure it may take more than that to build the RRR.”
Surprisingly, some real estate developers are not expecting a new urban centre in the area between the ORR & RRR or Rachakonda, but they are waiting for the lands under the GO:111 to be developed into a ‘green city’. The scrapping of this GO has given a big hope to the developers as it will bring a huge chunk of land bank within the city limits.
“Spreading across 360-degrees of the city is highly ambitious. It can be possible only when different industrial clusters are developed between the ORR and RRR, along with satellite townships having internal infrastructure like power, drainages, water supply and sanitation,” said V Rajashekar Reddy, president, Credai(Confederation of Real Estate Developers Association of India) Hyderabad.
Reddy added: “Already, several open plot ventures have come up around the proposed RRR. However, they lack social infrastructure and basic livable conditions. I appreciate the vision to connect Bhongir, Choutuppal, Shadnagar, Sangareddy, and other areas. It is also possible to create a new city in Rachakonda due to proximity to the upcoming Pharma City, but it will take at least 10 years or more.”
Expressing similar views, TBF President C Prabhakar Rao said, “we should not take election statements seriously. Let us wait and see. However, the ideas are good. As it is not easy to buy an individual house in gated communities within the city, middle-class people are looking for open plots up to the RRR. The buyers are also happy as the prices are still affordable there.”
Between the ORR and RRR, there is an abundant supply of land for residential purposes. Though the open plot ventures are available, the sales are very slow now. The IT growth and good number of jobs can only improve the sales activities here. Else, the market will remain as investors’ paradise meant only for speculative purposes, said another realtor.
