Bangalore Highway Becomes Realty Hub

General | By mahendra | 2008 Trackbacks (0) Add comment   

Bangalore 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 Kottur 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 Hyderabad 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 international 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 Shadnagar-Kottur 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, Kottur 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.

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Maytas Takes Hyderabad Metro

General | By mahendra | 2008 Trackbacks (0) Add comment   

The audacious bid of Maytas Infra for Metro Rail seems to have a self-serving side.Maytas has not only foregone the Rs 4,000-crore grant from the government but has also assured that it will pay the government Rs 30,000 crore in 30 years.

The bid caught the attention of the Planning Commission, which recommended to the Centre that it should not entertain requests for funding Metro Rail projects elsewhere.Now, the group is believed to be looking at expanding the project on two routes not just to make its bid viable but also to get more value for its properties by providing connectivity. Satyam, the parent company of Maytas, owns thousands of acres on the city outskirts which the latter is developing into real estate ventures.

Official sources told this correspondent that the company planned to take the Metro Rail beyond Shilparamam to Sankarpalle on the Line 3 and to Patancheru beyond Miyapur on Line 1. In both the places, Maytas has taken up or has proposed to build mega residential and commercial ventures, including Hill County, spread over hundreds of acres.Sources said the government had agreed to give the company the opportunity to expand routes and therefore additional land. "A clause in the agreement of Kakinada port clearly gives the first right of refusal to the existing developer over future expansion," a senior official said. Similar leverage could be given to Maytas for the Metro, he said.The Hyderabad Metro Rail Corporation managing director, Mr N.V.S. Reddy, said there was lot of pressure on the government to extend the Metro Rail route to Patancheru and Alwal. Referring to the argument that metros in the west are making losses, Mr Reddy said the high density of population would ensure revenues. Nine lakh commuters are already travel every day on the LB Nagar-Kukatpally stretch. "The Maytas proposal would click if 26 lakh passengers travel by 2026." Maytas was not available for comment.

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