‘Northern part of Hyderabad to be next hub for real estate’
Hyderabad: Though the western regions of Hyderabad continue to be the epicentre of growth in the city, the northern parts of the city too have been seeing significant traction due to the IT/ITeS, logistics, warehousing cluster, manufacturing clusters, pharma, healthcare clusters, etc. The region has a constant demand for residential and commercial real estate and […]
Hyderabad: Though the western regions of Hyderabad continue to be the epicentre of growth in the city, the northern parts of the city too have been seeing significant traction due to the IT/ITeS, logistics, warehousing cluster, manufacturing clusters, pharma, healthcare clusters, etc. The region has a constant demand for residential and commercial real estate and has several advantages such as NH 44 connecting Hyderabad and Nagpur, rail connectivity, multi-speciality hospitals, international schools, and entertainment zones.
Listing out these advantages, P Ramakrishna Rao, President, Confederation of Real Estate Developers’ Association of India (CREDAI)-Hyderabad, said, “we predict north to be the next hub for real estate in the city witnessing exponential growth.”
CREDAI which is having its 12th edition of Hyderabad Property Show and the first one focusing on North Hyderabad at Auspacious Convention Centre, on November 5 and 6, aims to help the home-buyers explore, evaluate and purchase the best properties in North Hyderabad. The CREDAI Hyderabad Property Show – North was inaugurated by Labour Minister CH. Malla Reddy, along with Qutbullahpur MLA KP Vivekananda, and CREDAI senior leadership team, here on Saturday.
The property show focus on real estate projects in the northern region of Hyderabad – the emerging growth corridor of the city – and showcase properties in the micro market, including the neighbourhoods of Balanagar, Kompally, Shamirpet, Medchal, Alwal, Patancheru, etc.
V. Rajashekar Reddy, General Secretary, CREDAI Hyderabad, pointed out that Hyderabad real estate is ranked as the most vibrant and best performing in the country across residential, commercial, and retail spaces. “The smart and proactive governance by the State government has played a critical role in driving the growth,” he said.
North Hyderabad is located on the NH with excellent connectivity by rail and road network and the proposed metro rail expansion will further improve connectivity and propel growth. Three elevated corridors have also been proposed to improve traffic flow in this belt.
In an effort to make the north corridor at par with the west, the government has decided to set up the tallest IT Tower at Kandlakoya with a capacity to host 100 companies in 1st phase and employ over 50,000 people, Rajashekar Reddy said and citing other projects and works lined up here, added, “all these indicates that North Hyderabad will go on to become what West Hyderabad was a decade ago. The property prices in this part will witness exponential growth across categories.”
