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Bangalore Highway(NH-7) Becomes Realty Hub
Posted by Pradeep Sadanapalli | August 10, 2008 | 1,053 views
(2 votes, average: 5 out of 5)
Loading ...Hyderabad-Bengaluru National Highway 7 is now witnessing real estate boom with the proposal of Hyderabad Metropolitan Development Authority. HMDA, which is going to oversee planned growth in outskirts will formally come into being in a couple of weeks. It will replace the existing Huda.
HMDA will cover an area of 6,856 sq. km spread over five districts such as Hyderabad, Ranga Reddy, Mahabubnagar, Medak and Nalgonda on the lines of National Capital Region of Delhi. Realtors are expecting huge construction activity in and around Kothur and Shadnagar of Mahabubnagar district in the next two years as state government is very keen on developing this area to de-congest the core the city.
Realtors say Bengaluru NH-7 is the right place for investment with the proposal of textile park, apparel park, aero hub, star hotels, IT parks and industrial estates. Connectivity to ORR project is an added advantage for this route. Suchirindia, Jaimata Di Villas Private Limited, JSR Real Estates, Vintage Avenue Private Limited, Hema Estates and several other real estate companies have already taken up various projects, anticipating future growth in the route.
Suchirindia chief executive officer Lion Dr Y. Kiron says, “There is overwhelming response to our projects like TimberLeaf gated community in which 125 villas are being constructed near in ternational airport. We feel Bangalore Highway is the future destination for real estate companies.” Jaimata Di Villas executive director Mr Murali Retineni says: “After careful assessment, we have chosen Bangalore highway route for the construction of integrated townships in ShadnagarKottur area,” he added.
Some real estate firms are keen on developing layouts after obtaining permissions from Huda and DTCP. According to realtors, per sq. yard is ranging from Rs 2,000 to Rs 10,000 in majority of the ventures. JSR Real Estates India Private Limited MD Mr Narayana Jadappalli says: “As per our assessment, the buyers of the plots will get good returns in just two years.” “We fixed Rs 3,800 per sq. yard to benefit the investors of middle class sections also,” he added. JSR Real Estates has developed ventures like Sri Sai Haritha Residencia and Sri Sai Lakshmi Residencia near Shamshabad airport.
Hema Estates MD Mr J. Kishore says, “We have developed Dhathrri Township near Kottur JP Darga since it has better connectivity. Four lane road will always stimulate economic activity and provide employment to lakhs of people.” Vintage Avenue Private Limited chairman and MD N.Venkateswara Rao anticipates, “Shamshabad, Shadnagar, Kothur and surrounding areas will be developed as another city very shortly as several new projects are being planned by both government and private companies.” We started several ventures like Vintage Classic, Vintage Flora and Vintage Olympia in Bengaluru Highway after studying the development plans of the government,” he added. Even realty majors like DLF has also acquired more than 500 acres of land in Bengaluru Highway.
SOURCES:
Deccan Chronicle
Topics: New Pospects, Real Estate |
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