With the city's East Zone development on track after the well-executed 'look East' policy by the government, it is now the turn of the South Zone to grab its share of sunshine. Its connectivity with the East, and much developed West Zone can work as a facilitator in the process.
The overall development of the city depends on the decentralization of growth. The state government is working on achieving just that after fostering growth of the East Zone with a dedicated policy. Now the government wants to implement the same for the South Zone for both commercial and residential sector development.
Rajeshwar Kacham, Vice President, Confederation of Real Estate Developers Association of India Telangana Chapter is of the opinion that all areas need to develop equally if the city needs to develop into a prosperous city. He says, "Hyderabad's South Zone has to have an equal stake in the development of the city." Reiterating the impact of fast transport on housing choices, he adds, "Better connectivity and easy transport for commuters have the potential to connect the interior areas to the rest of the city. Most people have migrated from various parts of the country to this city and they don't mind commuting to the workplace, if they can stay in the area on rent within their budget."
He believes that though it is a long way for the South Zone to catch up with the much developed West Zone, the development race might soon be neck and neck with the right initiatives, and a dream of substantial growth in the immediate future is highly likely.
The Hyderabad Metropolitan Development Area (HMDA) has already been working on developing clusters aligned with the Outer Ring Road and there is a lot of interest shown by the developer community and commercial investors in the area due to its obvious potential.
Echoing similar sentiments, Satish Vadaga, City Head – Hyderabad, ANAROCK Property Consultants, says, "Affordable property values and infra development push are boosting realty prospects in many southern localities in Hyderabad. Prominent areas to look out for include Srisailam Highway, Adibatla, Maheshwaram, Shameerpet, Warangal Highway, among others."
Infra boosters
Most localities like Adibatla, Maheshwaram, Mangalpally, etc are all in close proximity to the Srisailam Highway and also to the Outer Ring Road - this works like a spider-web network connecting regions to major areas and suburbs. Important infrastructure like TCS SEZ, Mangalapally Logistic Park - an inter-city truck terminal - coming up on 22 acres near the Outer Ring Road are also vital market drivers.
Infrastructure and employment have always been trendsetters in any real estate scenario. Vadaga says, "The Shamshabad-Adibatla stretch has picked up due to the presence of IT and aviation industries and affordable prices. Emerging as a new IT hub, Adibatla is a part of the Information Technology Investment Region (ITIR) project and has garnered interest from companies like TCS, Cognizant, Google, etc."
Due to the South zone being a hub of logistics parks and its easy connectivity with the international airport, growth is inevitable. The state government's efforts have pushed development to as far as Pocharam IT parks, and it will soon reach Southern areas. With Metro Phase II set to connect the international airport to Shamshabad, the corridor will get the much-needed infrastructure push to the zone.
What's the plot? The future ahead
As per experts, real estate in this region largely comprises plotted developments and very few apartment projects so far. In fact, in 2019, all micro-markets in the south region saw a new supply of apartments of just 400 units, but at the same time, overall housing sales were more than double with sales of nearly 800 units in the same time frame. The region definitely scores high in plotted developments with land values being fairly reasonable.
Speaking about what and how the trends will be set, Vadaga further says, "The future of most of the localities will largely depend on the progress of most of the projects including the ITIR project, Logistics Park, etc. As and when these developments take shape and major companies come in, the real estate growth will gain momentum." As per Kacham, the migrating workforce would be a major reason to push the growth of residential real estate in the region as it will also supplement the commercial development in the region, provided the infrastructure development takes place at a rapid scale.
Incidentally, HMDA owns a vast land parcel in Kokapet, which it plans to auction for large-scale infrastructure development in the region.
Kacham also believes that investment in the zone will be a profitable venture for developers in the future as the demand will continue to grow. "As land prices in the south region are still fairly low, developers can cash in on the growing demand," he adds.
However, there are a few experts who believe that there are several issues with the development of the South Zone of Hyderabad. Chalapathi Rao, President, Telangana Real Estate Developers Association (TREDA) explains that as the majority of it is owned by the military, building projects in the area due to restrictions is a tedious job. "Also, there is no proper supply of water in the area, which is a basic need. The government, however, is trying its best to push the realty sector and its growth, but it will take years before the South zone of the city will connect to the central part of Hyderabad," he explains.
Source : Times of India
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