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Shamirpet To Witness A Rise With Expressway Proposal
Posted by Pradeep Sadanapalli | October 19, 2008 | 1,179 views
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Loading ...While others developed and prospered, this place waited for its turn patiently. For long, it remained a mute witness to the activity and buzz that its sister suburbs savoured. Now, perhaps its turn has come and the stretch from city to Shamirpet could be enjoying the fruits of the wait.
Days after the State government approved a proposal by the Roads & Buildings Department for construction of a 30-km long four-lane, elevated expressway from Parade Grounds in Secunderabad on Rajiv Rahadari up to Shamirpet, land prices have started showing signs of escalation forcing investors and developers to evince keen interest in Shamirpet and its surroundings.
The IT boom has seen the best of Madhapur, Kondapur and Gachibowli, while Kukatpally and Miyapur are high on the wish list. Almost same is the case with Kothur in Mahbubnagar district after the Rajiv Gandhi International Airport was thrown open at Shamshabad. And the focus now is on Shamirpet with the latest decision taken by the Government.
Mercurial rise
Believe it or not, the price of one acre land here rose to Rs.2 crore as against Rs.1crore three months ago. The value of a square yard has risen to Rs.3,500-Rs.12,000 from Rs.3,000-Rs.5,000. Going by the trends, market analysts say the price may also increase significantly once the prestigious expressway project starts gaining a shape. A few landlords, who wanted to sell their agricultural land, have now dropped their plans, given the fact that land value may witness a phenomenal rise in the coming months and years.
They hope that more investors would evince interest in purchasing houses at Shamirpet given its proximity to the city. Once the expressway does become a reality, it would cut short the present driving time of more than an hour from Parade Grounds to Shamirpet, which is also called a biotech hub.
Add to it, several educational institutions, including NALSAR University, BITS Pilani and other organisations like Biotech Park have established their campuses. Besides, the Shamirpet has a link road from the nearby Thumkunta village connecting Medchal, Keesara, Ghatkesar and Kushaiguda. “The development of the area would certainly expedite once the work begins”, says Ch. Ramchandar Yadav of Sri Venkateswara Real-estate Enterprises.
Connectivity
Like him, many look at factors such as better bus connectivity, well-established, educational institutions and more importantly, hassle-free drive from Bollarum coupled with ongoing work of the Outer Ring Road project would contribute for overall development of the locality. The vicinities are also most sought-after by those in search of leisure with dhabas, resorts and recreational parks dotting all along the Shamirpet main stretch.
Quite a few projects have already sprang-up at Thumkunta, Kowkur and Shamirpet offering duplex flats and villas and in layouts, some developers are selling 200 square yards plot for over Rs.7 lakh. Veena Developers Managing Director Sandeep Adi notes a good response from buyers in the wake of government approving the expressway. “More people were enquiring about purchasing plots in Shamirpet. We have started a venture in 25 acres land to construct duplex houses”, he adds.
However, one disturbing factor for real-estate developers happens to be the IT slowdown and uncertainties of global market forcing buyers to shelve their idea of investing money in property for the time being.
SOURCES:
Hindu
Topics: Real Estate |
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