Telangana: Regional Ring Road drawing builders to Hyderabad
Hyderabad: With Regional Ring Road (RRR) project works gaining pace, many builders and developers from North India are evincing interest in Hyderabad real estate and executing a few projects.
The RRR is a 340-km-long project coming up around Hyderabad city and the Centre has already approved the 158-km-long northern part of RRR on Sangareddy-Gajwel-Choutuppal section. The 182-km southern part of RRR is proposed on Choutuppal-Shadnagar-Sangareddy section. The State government has already announced its decision to bear 50 per cent of land acquisition cost for the project.
In September, Chief Minister K Chandrashekhar Rao appealed to Union Minister for Road Transport and Highways Nitin Gadkari to sanction the southern part of RRR covering 182 km around Hyderabad under Bharatmala Pariyojana. The Centre has already appointed an agency for preparing alignments for the northern part of RRR and it is expected to be ready by January.
With the project works gaining momentum, a few builders and developers from Noida, Gurgoan, Delhi and other places from North India have made a few enquiries regarding lands around Hyderabad, said a member from Confederation of Real Estate Developers Associations of India (CREDAI), Hyderabad. Majority of them enquired regarding land prices and land availability in Sangareddy, Sadasivapet, Medchal and other northern parts of Hyderabad, the CREDAI member said.
RRR is a mega project and no such project was being planned elsewhere in the country. This is drawing attention of builders and developers from northern India. In addition to enquiring about land prices and land availability, many companies are also exploring possibilities in executing projects in partnership with builders and developers from Hyderabad.
Discussions were still in initial stages but different options, including funding pattern, were being explored by the companies. It will be a win-win situation for both local builders and developers and those from North India, said another CREDAI-Hyderabad member. While builders and developers from Hyderabad have resources, including manpower, equipment and manage logistics aspects, those from North can fund the projects. All these aspects were being discussed, the member added.
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