How the Regional Ring Road Contributes to Real Estate Growth in Hyderabad

 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.

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