Hyderabad’s real estate market may have been sluggish in terms of demand and investment, but one of its localities has been in the news recently. Shamshabad, in the suburbs of the city, is situated in the Ranga Reddy district of Telangana.
Why is Shamshabad in the news? My Home Group, a real estate and cement company has planned to take up a ‘Smart City’ project spread over a sprawling 3,000 acre of land in the locality. This announcement has the potential to change the real estate landscape of the locality.
Residential inventory available
The area majorly offers plotted development. The price of plots ranges from Rs 6-9 lakh with sizes ranging from 1350-2250 sq ft. Most of these lands are Panchayat approved and are as per the Hyderabad Metropolitan Development Authority (HMDA) norms. Large sized plots, for e.g. 9000 sq ft, are available for Rs 2 crore and above.
Investing in plots is not easy. Bank loans are not easily available for plot purchase. However, home loans on property construction are readily available.
In terms of connectivity, Shamshabad boasts of the new Hyderabad International Airport, which commenced operations in March 23, 2008. The area being close to the Bengaluru Highway and the Outer Ring Road (ORR) is preferred by many buyers. The Rajiv Gandhi International Airport is just about 20 minutes away.
Infrastructure-wise, the area is well-placed. “It is connected to Hyderabad by both road and train. It has many International Schools and Engineering Colleges. The Medical College International University (Symbiosis International University) and TATA University are in proximity. Many specialty hospitals have also made their presence near the area. Shamshabad is close to India’s biggest IT corridor (ITIR Zone). All these elements support the real estate development of the locality,” says C Madhusudhan Rao of Madhu Associates.
The Smart City announcement is expected to impact the property prices of the locality. “Today, a 200 sq yd plot, costs about Rs 6 lakh but can give you 100 per cent appreciation in the next 4-5 years,” says Ashish Kumar, owner of Ashish Realtors, who deals in the area.
“Shamshabad promises rapid growth in the future. Many projects are being planned within a radius of 10-12 km from the international airport,” says Kumar.
The area will also soon see Metro rail connectivity. The proposed project will connect to the Shamshabad Airport in future. The Indian Airlines Housing Project is also underway.
Shamshabad is slowly but steadily paving the way to become an established locality. If you have been planning to invest in a plot or an apartment/house, then you can consider the locality. It seems to be a good time to invest as the area is still developing. Once Shamshabad becomes fully developed, property prices are definitely expected to soar.
Source : MagicBricks.Com