Hyderabad has become today as the centre of many attractions as it has been an IT hub for so many years. The city has become an all-time favourite hot spot for investors to invest in real estate by building commercial ventures or global companies. This regular habit of developers and investors strengthens the field of Real Estate in GHMC to a greater extent. Thus, justifying the name, the capital city consistently creating many jobs and thereby became a place that feeds millions in the country.

  But, due to poor connectivity with other neighbouring towns, the development has accumulated within the city.  Therefore, to widespread the development and to further escalate the infrastructural growth, it is imperative that Greater Hyderabad be smartly connected with its neighbouring towns and districts. This major requirement pushed the government to put before the central government the proposal for a Regional Ring Road and took the approval to construct it around Hyderabad, Telangana in 2018.

Contribution of ORR in Socio-Economic Growth of Hyderabad:

                Before going to discuss about Regional Ring Road, let’s rewind and remind about Outer Ring Road and how it has contributed to the development in and around the capital city. The 158 kms Nehru Outer Ring Road has been serving as the catalyst for the growth and development in Hyderabad and stirred up office market in Hi-Tech city, Kondapur and housing market in Kondapur.

                ORR in Hyderabad has transformed many rural areas like Shamirpet, Kokapet, Puppalaguda as solid real estate hubs and they are seeing a proliferation of residential buildings, projects and townships now as they became close to Hyderabad IT corridor through the ORR.  The 8-lane expressway facilitated the connectivity of suburban areas to the Shamshabad International Airport and different parts of the city and uplifted the development of manufacturing industries, business firms, residential projects and apartments in and around Shamshabad.

                After ORR came into existence, Ghatkesar evolved as ‘East IT Corridor’ where we find bigger IT companies like Infosys, Raheja Mindspace alongside many housing projects. These are the few examples for the astounding development brought by ORR in the regions connected to it.

 

The Inception of Regional Ring Road:

                Now, with a whopping estimated budget of 11,000 crores, the new 6-lane, 330 km long Regional Ring Road, RRR that connects major national highways like NH 65, NH 44, NH 163, NH 765 will strengthen the existing road network around the city. The Central Government has given the nod to start the first phase of construction i.e., 158kms road which will start from Sangareddy, Narsapur, Toopran, Gajwel, Jagdevpur, Bhongir and end at Choutupul. Let us now delve deeper into the details to know how the Regional Ring Road will affect the real estate growth in Hyderabad.

Key Benefits of Regional Ring Road:     

Constructing RRR will boost the socio-economic growth of Hyderabad by creating huge employment opportunities.

Besides Hyderabad Real Estate, it will also bring benefits to small and medium-sized businesses in the surrounding districts.

It will help improve sectors such as trade, education and healthcare, Aerospace, Electronic and Electrical industries in and around the city.

It will help in the development of backward districts which are underdeveloped due to lack of road connectivity to nearby major cities.

Effect of Regional Ring Road on Hyderabad Real Estate:

• According to the project plan, the Regional Ring Road will connect major towns and villages in Rangareddy, Bhuvanagiri, Siddipet, and Sangareddy districts such as Toopran, Shivampet, Narsapur, Daulthabad, Bodapatla, Vendikole, Fasalwadi, Mnr X road, Sangareddy, Eddumailaram, Shankarpally, Chevella, Pamena, Tadlapalle, Shabad, Shadnagar, Keshampeta, Amangal, Bodanampalle, Malkapur, Bhongir, Choutuppal, Marriguda-mall, Markook, Mulugu.
• We can see an immense growth in Real Estate in these areas as investors eyeing these areas to buy lands and to establish housing projects within the affordable range. This is already a proven fact in the case of Outer Ring Road and hence we can hope that it will repeat again with RRR.
• It also has huge potential to attract many big players in the realty sector to develop mid-budget gated community apartment projects.
• Besides these, numerous office spaces and industrial units will be developed will further increase the rate of employment, quality of education and other important sectors.
• RRR will bring an enormous boom to the real estate industry in Hyderabad along bringing growth and development in other sectors as well.

Therefore, the people who own lands in those areas can get huge profits as the land costs will be shoot-up and the people or any other investors who are willing to invest in real estate, it is high time to buy lands around Regional Ring Road and, in the districts, or cities connected to it.

For latest real estate news, updates related to realty sector and to search for the best properties in India, visit Proppick.com, the best real estate property portal in Hyderabad.

Everyone has a dream to own a home. But it is not so easy to each and everyone. Most of the Indians carefully save their hard-earned money to accomplish their home dreams. Whereas some people take loans to fulfil the same. Finally, their hard work takes the form of a beautiful home on one big day after spending so many sleepless nights. But sometimes, people fail to take care of certain crucial things related to their dream home.

In this article, we discuss about important factors to be considered before buying a property or home.

1.     Budget:

It is very important to get appropriate reward for the hard work of an individual. Hence it is very necessary to choose a home within the budget range. And one must check to see if there are any hidden or other additional charges in case of buying a flat or apartment.

2.     Accessibility of the location:

Having a home which is far from social infrastructure is not so advisable. We need to choose a location that is easily accessible to all basic social infrastructure such as educational institutions, police and fire stations, hospitals, shopping malls, restaurants, parks, playgrounds etc.

3.     Transportation and Connectivity:

In metro cities like Hyderabad, traffic is the biggest problem. So, if you take a home where there is no adequate public transport facility, then it is difficult to commute to other places on daily basis. So, it is better to be in a place where you can get proper transport facility.

4.     Taking Legal Care:

It is must and should to make sure that property titles are hassle free before buying it to avoid any complications in future. And also, it is must to thoroughly read the agreement written between the builder and the buyer.

5.     RERA registration:

In order to protect yourself against all kinds of structural defects for coming five years from the time you buy it; it is necessary to check whether the project is RERA registered or not.

6.     Basic amenities and Quality of construction:

We all know the famous saying, don’t judge a book by its cover. So, don’t get deceived by the looks, it is foremost necessary to check the quality of the construction with the help of an engineer.

Besides that, it is necessary to ensure that your home or flat is connected with all the basic amenities like water and power supplies and also check the rate of availability.

7.     Resale value:

It is one of the important factors that everyone must consider. Life is all about dealing with ever changing situations. If a situation occurs to sell your property, it must give you a decent return. Therefore, it is important to buy a property that has huge potential of getting good resale value.

So, considering these key factors while buying a home will surely help you in every possible way to get maximum benefits out of it whenever needed.

For more latest real estate news, updates related to realty sector and to search for the best properties in India, visit Proppick.com, the best real estate property portal in Hyderabad.

Covid not only brought lockdown but also it broke down almost every industry. It put a big question mark in front of every individual and of course for all the industrialists. Like everyone, the real estate people, developers, agents and others who are attached to it worried a lot about the revival of the industry. But, as a big surprise, the real estate in Hyderabad after covid has bounced back with a bang without taking much time.

While many other industries are still in recovering stage, realty industry regained its pre-covid strength. Sound infrastructure, very reasonable and affordable prices of properties, rise in investments in IT and other sectors in the city are the key-factors which helped the industry to reach this commendable feat. Based on this live fact, we can say that Hyderabad, therefore the entire Telangana is the well-suited and the safest place to invest and explore the world of real estate.

Most of the credible sources saying that sales have been boosted for the past three months. Especially, the residential wing of the real estate sees a big leap towards profits. On seeing the sound health of the realty sector, many big players are coming forward to launch new projects in near future. This wipes out the fear in upcoming and medium range investors and they too making their ways to get decent profits during this crucial time.

For instance, if you want to construct a multi-storeyed building in Hyderabad, you can see comparatively lesser budget than in other cities as there is no limit on Floor Space Index, FSI in Telangana. This major advantage constantly encouraging and attracting more and more investors into this metro city. Hence, the boom of the real-estate keeps on increasing and we can see the same scenario for the coming five to six years.

Besides all these, the Telangana state government launched Telangana State Building Permission Approval Self-Certification System, TS-Bpass which has lessened the pressure of policies on the industry. And the three-capital plan in Andhra Pradesh gave rise to many uncertainties in the real estate there and this makes the developers to launch their projects in and nearer to Hyderabad and Telangana. In this way, Hyderabad real estate gaining all sorts of strength and attracting investors all over the world.

It is one side of the coin. To the other side, we can see the rise in the prices of steel and other commodities which are used in the construction. We all pretty know the simple formula, where there is demand, there is rise in prices. Same has applied here and prices of steel, cement and other construction material touch the peak mark and thus the overall cost of construction has increased enormously. This results in increase of land cost too. This will surely show significant impact on future projects.

Apart from these, the increase in irrigation facilities has led to rise of land rates in rural areas. Therefore, people in rural areas selling their lands and start buying properties in Hyderabad. This also has given big boost to the real estate in Telangana.

Therefore, on a whole real estate in the capital city sees tremendous progress except few cons. For more latest estate news, updates related to realty sector and to search for the best properties in India, visit Proppick.com, the best real estate property portal in Hyderabad.