Large townships in Hyderabad have observed an increasing demand from potential homeowners because a large portion of the workforce working from home due to the ongoing second wave.
Together with the recently introduced city policy of Telangana governments, developers have launched or planned several integrated city townships in the West and Eastern quadrants along Outer Ring Road (ORR).
Large Townships in Hyderabad
For the real estate sector, the city is the way forward with urban development in mind. J Shyam Rao, Managing Director of My Home, informed that they have evaluated the advantages of the new 2,000-acre city project in Shamshabad. Several developers have already presented proposals for ORR integrated townships. The city is the way to move forward with urban growth in the real estate sector
To uplift property sales, the state government of Telangana announced an integrated township policy to spread growth throughout the town and attract more construction workers to undertake these projects by encouraging them.
Attractive incentives such as a 50% exemption from stamp duty on land purchase and a 50% waiver of non-agricultural conversion charges and other development charges have been offered for the property development.
In addition, under the policy, projects would be exempt from land ceiling legislation and an exemption of 100% from taxes on stamp duty for those areas that are economically weaker.
Hyderabad continued to dominate further startups and represented over the quarter more than one-fourth of the total launches. The improving demand levels and the low inventory in ready-to-move projects contributed to steady price stability in the city.
By: Shailaja K