Real Estate-whats Up at Hyderabad Peripheries?

By: George Gonigal

With the recent formation of Greater Hyderabad Municipal Corporation (GHMC) real estate at the peripheral locations of Hyderabad is likely to undergo a consolidation phase. At present, the urban density at peripheral areas such as Madhapur, Raidurga, Gachibowli, and Manikonda is growing at quite a staggering pace.

Spotting the underlying business opportunities in this area, real estate developers have already launched large projects in and around. Undoubtedly, we cannot ignore role of IT and ITeS industry in the development of commercial properties in Hyderabad. K Raheja has launched an Information Technology Park in Shamshabad while Indu Projects have also launched IT Zone in the area.

Similar are the developments at Madhapur, which is home land for Hyderabad's famous HITEC City. This peripheral location is witnessing enormous interest from the technology giants from all across the world. Recently, global technology major CISCO hired some 17,000 sq. ft of space at Madhapur. Such developments have been translating into flourishing property markets. Especially, the residential properties segment is witnessing good demand for rentals, property brokers inform.

The supply side too, in this area, is in tandem with the demand curve. Infrastructure giant Larsen and Toubro (L&T) is engrossed in building HITEC II after success of HITEC City. Huge commercial real estate projects like Divyasree Omega and Divyasree Solitaire are also scheduled to be completed in the early half of year 2008.

As far as the state of infrastructure is concerned, GHMC has been entrusted with the task of managing and improving the same. According to Hyderabad residents, the present state of roads in the peripheral locations is not satisfactory and there exists a critical need for construction of new roads. We hope that formation of GHMC would help maintaining the existing roads, if not the new ones, said Mohd. Afaque, a senior resident of Madhapur.

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