SRDP Infrastructure Projects in Hyderabad Boost Real Estate Sector

Developing infrastructure facilities is one of the key factors that boost the growth of real estate in Hyderabad. The government has been taken several measures to develop infrastructure and real estate by ensuring fast-paced growth of road network, transportation modes and affordable housing.

SRDP Infrastructure Projects 

On 3 January 2018, underpasses of Ayyappa Society were opened for traffic, this was the beginning of a new phase of growth of road infrastructure in the city under the SRDP (the Strategic Road Growth Plan). Since then ten structures in different areas of the city have been built under the SRDP by the Greater Hyderabad Municipal Corporation (GHMC).

Package IV of SRDP at Rs 379 crore has already been completed with the launch of the first-ever flyover at the biodiversity junction last month. As many as six structures under the package were developed.

In addition to facilitating smooth traffic flow, these structures have caused a great deal of transformation in the respective area. The SRDP, the long-term initiative taken by the state government to relieve traffic congestion in various city areas, is already producing results.

Fast Pacing Works of SRDP Projects to Add Impetus

Many underpasses and flyovers have been built in various areas of the city, and GHMC ensures that no lack of funds is available and projects are performed according to the schedule. In a short duration, Durgam Cheruvu cable bridge and flyover on the road no. 45 of the Jubilee Hills will be ready for commuting. At the cost of nearly Rs 330 crore, both projects are being developed.

With 18 other projects under development, the GHMC officials were directed by the government to speed up SRDP projects and ensure to complete early. Officials were advised to coordinate with the concerned departments to ensure that the work to be completed, including the transfer of the services involved, to avoid delays and slow land acquisition.

The State Government is closely observing the progress of the SRDP projects. The municipal corporation is accumulating funds for the projects from different sources, such as Rs 1,000 crore, by way of municipal bonds, Rs 2,500 crore by Rupee Term Loan and Rs 2,437 crore through GHMC's funds.

Many investors were now interested to invest in Hyderabad residential properties due to developing road infrastructure in the city and initiatives being taken to ensure the free flow of traffic by the State Government.

With many infrastructure projects coming up in the city soon, the real estate sector of Hyderabad is set to get a big move ahead.

By: Shailaja K