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Not
the poorer cousin, anymore
A couple of years ago, one sq.yard land
in RR district cost Rs. 600. Now, it comes to Rs. 10,000. With
Hyderabad bursting at the seams, the benefits are spilling over
to its not-much-touted neighbour, writes T. Lalith Singh |
HYDERABAD MIGHT be walking away with all glory
as a happening city in terms of IT, BT, airport and real estate,
but it is the neighbouring Ranga Reddy that is really playing host
to most of the projects and facilities.
Ringing the capital, the district has almost all the major ideas
and concepts that caused the demand for land and contributed to
all-round escalation of property prices.
Whether it is an already bustling Cyber Tower or an international
airport in the making or a FAB City, the contours of which are
to take shape on the drawing board soon, one can find them dotting
the RR District map.
Hyderabad, both the old and new parts of it, chokes with unplanned
construction activity over several decades and this hardly leaves
any scope for grounding concepts such as special economic zones
or mega projects here.
]This naturally has the neighbouring RR district with its proximity,
easy access and unexplored spread becoming a hot favourite.
And as projects took shape and more announced at regular intervals,
parts of the district that are in the closest proximity all around
have hit the realtor's popularity charts.
The projects kept coming and the land prices kept escalating.
Areas like Kondapur and Gachibowli that hardly were motorable some
years back now have the best roads, workspaces spread all over
and apartments and even villas cropping up all over.
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Not in State hands
Such has been the
demand for land here that the District Revenue Authority
finds itself left
with a meagre share of the vast tracts that it once
controlled in some mandals. Take the case of Serilingampally,
where officials admit that there is not much land available
now with the Revenue wing. "We are left with some
bits and pieces strewn here and there but nothing substantial," says
the RR District Joint Collector, V. Seshadri.
A considerable chunk of the
revenue land, between 1,000 acres to 1,200 acres,
has been transferred
to the Andhra Pradesh Industrial Infrastructure Corporation
(APIIC). The APIIC has 500 acres marked for an IT
hub at Raidurg with Gachibowli, Gopanpally and beyond
registering an unprecedented demand for land.
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The hub of growth
A real growth hub, the property interests in the districts can be
mapped in the three directions - its 3S's -- Serilingampally, Shamshabad
and Shamirpet. Of them, Serilingampally is on the verge of exhaustion
as far as revenue lands are concerned. The IT sector struck deep
roots here and from just-born IT companies to leading international
software firms have either Madhapur, Kondapur or Gachibowli printed
on their letterheads.
Property prices, naturally, have spiralled beyond anybody's imagination.
Fuelled by well-paid software professionals who came here from all
parts of the country, the realty boom has reached a stage where one
cannot think of taking control of a square yard of land without shelling
out at least Rs.10,000! That too for the same bit of land that was
available for Rs.600 or Rs.900 per square yard a couple of years
back.
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Count in crores
While Rs.10,000 happen to be the base, prices have escalated to even
Rs.28,000 per square yard at some places of Gachibowli. Even calculating
at Rs.10,000 per square yard, an acre works out to be how much? A
whopping Rs.4.8 crore!
Property is also fast growing in widening circles around Shamshabad
with the upcoming International Airport as the epicentre. Officials
foresee tremendous potential in locations here like Kandukur, Maheswaram
and Saroornagar. The stretch of land between the roads heading
for Srisailam and Nagarjuna Sagar too is tipped to be in for some
exciting times. Plans are afoot here to the tune of 2,000 acres
including Fab City while areas like Nadergul and Adibhotla could
soon be bustling beyond recognition.
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Planners' attention
Shamirpet, which for long has was known only for the lake, Deer
Park and such facilities, is also set for a new role. District
administrators point out that the Apparel Park, Biotech
Park and the recent announcement on a BITS campus are throwing
up real estate possibilities that were hitherto not thought
about in these parts of the district. Places such as Aliabad
and Lalgadi Malakpet here are said to have caught the attention
of planners. If that is the case, can investors and realtors
be far away?
Of the 37 mandals in the district, most of the development
has been confined to about 18 mandals that lie in the first
ring surrounding Hyderabad.
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Electronic Park
Now, the second loop comprising mandals
that are comparatively away has begun to see some activity including
projects like a Electronic Park at Alur in Chevella.
This is explained by the sale of agricultural land and gardens
in the first circle by farmers at existing high prices and
moving back to invest a part of it in properties that come
at lesser prices.
Time Ranga Reddy is given its credit. |
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