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Real Estate: Boom In North Hyderabad With The New IT Park

Real Estate: Boom In North Hyderabad With The New IT Park

It was in the year 2007 that Hyderabad saw a blowout boom in Real Estate. The boom gave a huge boost to the areas in 20 km radius around the Madhapur IT hub.The place has almost saturated today with huge growth in the land prices.

The advent of several IT companies and the expansion of capital investment in the Financial District area has made the area very expensive.  

Similar boom is expected now in the not much tapped Northern Hyderabad between Medchal and Manoharabad. 

KT Rama Rao, the IT Minister of Telangana has laid the foundation stone at the Kandlakoya IT Park today. The IT Park can accommodate more than 100 companies and is expected to create over 50,000 jobs. 

"This IT park is going to give a huge impetus to the Real Estate business in Medchal-Manoharabad area. A good number of residential plots have been vacant in these areas and now it is expected that the ace builders like My Home, Aparna, Rajapushpa, Aurobindo etc may begin their land procurement in the stretch between Kandlakoya and Manoharabad'', said Rajneesh Solanki, a Realtor. 

"The years down the line may also see the arrival of International Schools and Star Hotels in this region. It all depends on how soon the IT park comes into functioning. Well, it won't stop with one IT building in fact. The IT boom in Madhapur was started with the inauguration of Hitec City in 1998. We have seen how much growth was seen in the 20 km radius of that place year by year with the arrival of hundreds of companies around", he added. 

This shows the potential of this untapped area growing big on par with that of the Financial District and Gachibowli in near future. 

On the other hand, the Eastern Hyderabad area around Nagole, LB Nagar and Uppal is also going to see a similar boost in Real Estate business with the new five IT Hubs sanctioned for this region by the government of Telangana. This area has been bustling with population for more than two decades. It's going to be an extra pep for the region. Already the gated communities are under construction in the Uppal region.  

Government of Telangana has taken the decision to distribute the IT population in all the directions of Hyderabad instead of concentrating all of them in the West Zone of the city. 

"The Real Estate investments in Northern Hyderabad proves to be wise as the land prices have the potential to increase in geometric proportion with the new IT Park around. If the investment has to see phenomenal growth in a few years, planting the money in the 20 km radius of the new IT Park in Kandlakoya region proves to be intelligent investment", said an insider in the Urban Development department of the state. 

Not only IT, but the city of Hyderabad has the potential to be the biggest industrial hub in South India as it has the scope to expand in all the directions unlike Mumbai and Chennai. 

An insider in the government says, "There are plans to bring some car manufacturing companies to Hyderabad. The favorable hub is being considered to be the Northern Zone as of now". 

Above all this, the proposed 330 Km Regional Ring Road is expanding Hyderabad beyond the GHMC limits, making the city stretch its horizon of development. The proposal was made in 2018 connecting almost 24 villages in a circle around the Outer Ring Road. The RRR was aligned 30 km away from the operational 158 km Outer Ring Road (ORR). Nothing has been moved so far owing to the pandemic issue in the last two years. If the land procurement begins for this purpose then, that becomes a bigger catalyst for IT boom in all the directions of Hyderabad.

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Tags: Real Estate North Hyderabad