Here's How Outer Ring Road Is Pushing Hyderabad Real Estate
Infrastructure development in Hyderabad has been a high point in the time IT industry flourished here. With migrants coming in, population explosion and rising demand for housing, the city has been undergoing a transformation when it comes to basic and social infrastructure. In terms of connectivity and commutation, the city witnessed marked improvement as new highways, expressways, bypasses came up in the city to smoothen travel. Nehru Outer Ring Road was one such big-ticket infrastructure that not just impacted commuting but also the real estate market of Hyderabad. PropGuide takes a look at how the Nehru ORR has changed the face of the city.
Enhancing connectivity to important commercial centres
ORR is an eight-lane road that offers connectivity to other suburban areas of the city without getting stuck in the traffic of the main city. This specific stretch has resulted in decongestion of roads in Central Hyderabad as ORR is signal-free and offers faster route as compared to the usual city roads. Hyderabad is an international hub of software exports, its connectivity to the airport through ORR has made it a preferred city for international companies to set up their base here. Apart from this, the 158-km long road is connected to all national and state highways passing through Hyderabad. In fact, ORR has expanded the boundaries of Hyderabad as commercial and residential development has reached the suburban Hyderabad which was earlier barren with no economic activity.
Real estate corridors
ORR development in Hyderabad has transformed old-villages into new real estate destinations. Shamirpet, Kokapet, Puppalaguda used to be rural areas but now they are witnessing the rampant construction of residential buildings, projects, townships due to their proximity to the IT corridor of Hyderabad via ORR. While Shamirpet has its own biotechnology park coming up, Kokapet and Puppalaguda are receiving housing demand from IT workforce. Apart from this, Gandipet, Kollur, Chandanagar, Adibatla and Pocharam are other areas that have come up as prominent markets for buying properties. There is a high supply of plots and villas in some of these areas, owing to the availability of land parcels at affordable prices, making it a preferred choice amongst natives of the city who were so far restricted to the centrally located areas of the city.
Improved social fabric
With rising demand of housing comes a market-driven development of social infrastructure. Many new schools, market complexes, hospitals have opened along ORR to cater to the population staying in close proximity. This has enhanced the social viability of the area for family living. Ample open spaces, secured gated complexes, new properties, like-minded communities and availability of all types of modern amenities in close proximity has boosted livability of these areas.
New projects
Several new projects are coming up along this stretch in different price range. Though most of these are affordable housing projects, few are in the mid-segment range offering 2, 3BHK at a starting price of Rs 50 lakh. Some of the most reputed real estate developers in the city have marked their entry here, owing to the growing popularity of ring road. This makes it easy for the investors to leverage the potential of newly developed areas that ensures guaranteed returns and timely delivery. Though most of the projects launched recently are scheduled for delivery by 2020, few are already ready to move and are being preferred by end-users.
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