Gmr Airport and Orr to Drive Hyderabad Properties

By: George Gonigal

The real estate markets of Hyderabad are slated to enjoy a boost with major infrastructure projects under development at different parts of the city.

The greatest among all are--the 159-km Outer Ring Road (ORR) project and the GMR international airport--that are seen as an engine for the real estate developments in Hyderabad.

Shamshabad will be the major beneficiary of GMR international airport project, and real estate majors, in order to take on the underlying opportunities in the belt, are making beeline to acquire land. The airport would become operational from March 2008.

Interestingly, the another major infrastructure project in Hyderabad-ORR--would improve connectivity between Cyberabad and Shamshabad, and this way ORR and airport projects go hand in hand.

According to the officials of Hyderabad Urban Development Authority (HUDA), such projects are need of the hour. It would help to decongest the traffic-pressure on the existing major arterial roads of Hyderabad, and the impact on real estate would definitely be the positive one.

As per the government reports, Hyderabad has more than 1.8 million vehicles running across its roads everyday, and about 2-lakh new vehicles are brought on the roads, each year.

Says Mohd. Naseem, a Hyderabad-based property agent, 'State of road infrastructure plays a major role in driving property values, and any improvement in this segment translates into a decent appreciation in property values of areas around. Definitely, the same applies over also.'

Once the ORR becomes fully-operational, it would certainly help systematizing the traffic system of the city, and thus the commutation time within Hyderabad will be tremendously reduced, he added.

Real estate developers and consultants in Hyderabad also assert that property values in and around the project sites such as Shamshabad, Kothur and Mansanpally would go up gradually with the progress in the construction of the project. Areas such as Sagar and Vijayawada Highway are also expected to boost when the second phase of ORR work would begin.

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