Although the economic crisis has hit hard the real estate sector in some parts of the country, the youngest metropolitan city, Hyderabad real estate has very minimal to zero effect on its investments. Since the past few years, real estate investors are always on the lookout for Hyderabad investment for its affordable rates and healthy profits for the long term.
Real estate growth in Hyderabad is high in all categories of commercial and residential spaces. Although healthy growth is been observing in the west, north, and south, the state government and the development community are making concerted efforts to promote growth in east Hyderabad real estate through the Look East Policy (LEAP).
The good news is that the Telangana government is pushing many positive steps and programs to make Hyderabad a truly global region. There are numerous laws that are implemented to make business easier. The Government has created an environment conducive for industry, which will strengthen the east Hyderabad real estate as an investment destination.
What is LEAP?
Telangana government has prepared a blueprint “Look East policy” (LEAP) in order to enable IT and associated firms to take up their office in the eastern part of the city. The developers taking on commercial & residential space ventures would benefit in particular. All real estate developers choosing to go to these places will also get some advantage. LEAP intends on concentrating more on the development of areas like Uppal, Adibatla, Keesara, Vijayawada, and Sagar roads, that would be built in line with the other prominent hubs.
As part of LEAP, the Telangana government concentrates on expanding the IT growth to the east of the city. With some existing leading companies like Raheja Mindspace, Genpact, and Infosys SEZ Campuses in Pocharam more are yet to come. Since Pocharam offers plenty of opportunities and to improve more on other parts of eastern Hyderabad, Uppal is the apt place considering there enough land within the 10-15 km radius of Uppal.
The LEAP provides a new platform for the Hyderabad real estate to expand. At present, the east Hyderabad has huge constructions, with a population of 2-3 million residing over there. This part of real estate will have an additional advantage from the inner road, metro linking and social infrastructure. Govt initiatives and attractive proposals can further increase real estate growth in the already expanding market.
Real Estate Boom at East
For Hyderabad real estate, the main authorizations are a business and residential spaces. Telangana Government drives towards east Hyderbad developments to reduce the strain of services in the western parts of the city by pushing towards a geographically more integrated growth. The advantages of developing the eastern parts of Hyderabad would be gratified since more jobs will be available, de-congest and the time reduction for thousands of travellers in the west of Hyderabad from the east to the IT hub will be promoted. The metro rail project also is promising in terms of uniting the eastern & western limits of the city that include the SEZ industrial corridors & the IT hubs.
Nonetheless, this would happen if government subsidies to developers and the IT firms that set up infrastructure in the eastern parts are funded. One of the big IT participants are expected to relocate nearly 5,000 people to the east Hyderabad. Since the traffic problem is already reduced due to metro connectivity. As in the western side of the city, the company employs a lot of employees, so it conducted an internal study and found that nearly 40% of the workers were from Secunderabad. Such people will be more likely to be happily accommodated from the Eastside campus.
The main evidence of East Hyderabad real estate development is in infrastructure (such as roads), law and order. Two vast IT Parks, NSL Arena and DSL Abacus situated on either side of a 120-foot-wide Ramanthapur road (NH 202) have given way to excellent residential infrastructure development and mom-and-pop shops.
ITIR (Information Technology Investment Region) is subjected to focus more on the eastern part of Hyderabad primarily including regions like Uppal and Mamidspipalli, Adibatla, Pocharam, and Maheswaram. For its growing, a lot of places in Hyderabad are observing traffic congestion with full packed crowds, so there was a need to spread the IT zones across all the parts of the city.
If launched, it is expected that it will bring a second wave of IT growth to Hyderabad. It is intended for establishing and growing IT, ITES, and EHM units as a self-contained, integrated knowledge cluster. This is to suggest, a mix of production units, public services, infrastructure and the system for environmental protection and residential areas.
The ITIR will also include Special Economic Zones, industrial parks, free trade zones, warehousing areas, export-oriented units, centres for growth and settlements and estates/services in existing industries. Ultimately, once the ITIR has been set up, direct and indirect jobs are expected to be created.
The decision by the Telangana Government to extend industry to the eastern part of the city would encourage more growth prospects in the IT sector for Hyderabad. The entire corporate world is in love with this youngest metropolitan city. In addition to the involvement of Indian blue-chip firms, the world's well-known corporate giants branches in Hyderabad are rising. The east Hyderabad real estate market is expected to flourish with workers from all over the world. All these factors simply say that if you plan to invest in Hyderabad real estate, this is the right time!
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