Telangana is the Second Most Popular Real Estate market in India

HYDERABAD: The real estate sector is booming in the suburbs of Hyderabad, Telangana, which makes the second most popular property market in India to Gujarat. This is essentially due to three areas under the boundaries of Greater Greater Hyderabad Municipal Corporation (GHMC) -Serilingampally, Rajendranagar, and Quthbullapur. Serilingampally and Rajendranagar are very close to Gachibowli’s IT Corridor, Kondapur, Madhapur, and Nanakramguda, suggesting that the rise in information technology (IT) that has catapulted Hyderabad onto the world stage for decades is still having an impact on the real estate sector,

Analysis Express shows that only four months of this year from 1 to April 30, 2018, the State Environmental Impact Assessment Office (SEIAA) Telangana received 98 applications for environmental approval in the category, of projects new construction, and industrial industries.

These are expensive projects because as a 2006 notification of the Ministry of the Environment and Forestry (MoEF), construction projects need to have built-in between 20,000-1,50,000 square meters for environmental approval of SEIAA area.

A quick look at the proposals showed that 98, only 16 to 17 projects are commercial/industrial nature, and the rest are housing projects. Also among commercial/industrial projects, half of them are in Serilingampally, which are IT parks.

When we contacted him, the President of CREDAI Telangana, G Ram Reddy, also said the IT industry is the main reason for the growth in the housing sector in areas like Serilingampally and Rajendranagar. He said, “The space to develop real estate projects, now is something outside the city As a result of the number of housing projects in the suburbs increase, such as Quthbullapur or Patancheru.”.

Of the 98 EC construction projects requested, 54 are located in Serilingampally (27), Rajendranagar (17), and Quthbullapur (10), which are under GHMC and manuals in the Rangareddy district.

Construction projects remaining for which applications from the EC were received were: Ramachandrapuram (7), Patancheru (5), Malkajgiri (4), Saroornagar (4), Uppal (3), Ameerpet (3), Balanagar (2) Shankarpalle (2 ), Khairatabad (2), Maheshwaram (2) and Shameerpet, Sangareddy, Secunderabad, Medchal, Shaikpet, Golkonda, and Choutuppal.

The SEIAA of Gujarat received 175 mass applications seeking EC for construction projects in the category ‘New Construction Projects and Industrial Real Estate this year. However, unlike Hyderabad, projects are not concentrated in or around a city. The projects are distributed in different cities, mostly Ahmedabad, Surat, Vadodra, Rajkot, and Valsad, which shows that development in one part of the state is not happening.