Now, Hyderabad’s real estate development becomes case study for other States
With Hyderabad hitting the headlines regularly for rapid development in the real estate sector, many builders and other developers from other cities are visiting the State capital on study tours
Hyderabad: With Hyderabad hitting the headlines regularly for rapid development in the real estate sector, especially in commercial space absorption and luxurious residential apartments and villas, many builders and other developers from other cities are visiting the State capital on study tours.
A 250-member team from Maharashtra is expected to visit the city shortly. This comes after a delegation from the Youth wing from Maharashtra Builders Association visited the city last year.
Sharing details behind this practice, CREDAI National Secretary G Rami Reddy said the growth of Hyderabad has been phenomenal, especially in the last seven years. Every field, including pharma, industries, IT, life sciences and others witnessed rapid development and this had triggered positive growth in the real estate sector as well.
Skyscrapers, ranging from those with 30 to 50 floors were dotting the cityscape. After Mumbai, the maximum numbers of high rise structures were coming up in Hyderabad. At present, Hyderabad was the most happening city in the country. There were villas with prices ranging from Rs 3 crore to Rs 30 crore here. Likewise, there were apartments, which cost about Rs 5,000 per sqft to Rs 15,000 sqft. No other city has such diversity, he said.
Doing away with conventional technology, complete aluminum form work has come up. This is a system for forming the cast in-place concrete structure of a building. Builders were coming here to learn about such advanced technologies and construction practices, he said.
The clubhouses in several gated communities are also drawing the attention of many architects, builders and contractors. Equal priority is being accorded for landscaping in projects.
During these tours, they study residential apartments, high-rise structures and luxurious villas. All aspects right from foundation to finishing and advanced technologies used would be discussed, besides market potential, he said.
“Buildings permissions are approved transparently and this is not being done in many major cities. There is no political corruption here and it is the biggest differentiating factor,” Rami Reddy said.
Even in rural areas across Telangana, magnificent buildings are being constructed. “In Chityala village, I personally noticed amazing structures. The elevation, glass façade and solar fencing enabled buildings are coming up. People’s affordability in Telangana has definitely increased,” he said.
The visitors are not just from Maharashtra. Builders from the Delhi NCR region and some from Kolkata were also evincing interest in visiting Hyderabad for studying different aspects, including commercial space, warehouses and residential structures, CREDAI Hyderabad Secretary V Rajashekhara Reddy said.
The biggest advantage of Hyderabad is infrastructure. Many cities were facing lots of challenges due to lack of infrastructure or poor planning. Link roads, flyovers and underpasses have been constructed to ease traffic congestion. This is making many builders to look towards Hyderabad, he added.
