The announcement of the Hyderabad-Warangal industrial corridor has sent real estate players scrambling to develop office and residential projects in the eastern side of the city.
Uppal, Pocharam and other areas in the east are already part of the IT revolution, with leading names like Infosys and Genpact, among others, having campuses in the area.
With a stretch of the metro rail project — which will have one of its depots at Nagole near Uppal — nearing completion, there will be demand for residential projects in the vicinity, according to property developers.
According to C Shekar Reddy, national president of the confederation for real estate developers and associations of India (Credai), there are several projects in full swing or in the planning stage towards Pocharam and beyond. The industrial corridor, a two-hour drive from Hyderabad, will increase the demand for housing, he said.
"The focus should be on getting big IT companies," he says. "They should start operations even with 150-200 people in the initial phases. The ITIR project also spans this region. The outer ring road is already operational. Then there is a plan for a regional ring road with a radius of about 70 km. With these plans, the eastern part of Hyderabad is poised for a leap.”
According to DSL Infrastructure and Space Developers managing director Manoj Kumar Agarwal, the company has begun work on DSL Abacus, an IT office and mall space project. This would cover about 8 lakh sq ft, of which 5 lakh sq ft would be devoted to offices and 3 lakh sq ft covered by the mall.
“Uppal and adjoining areas will be key markets in a few years. There is a lot of manpower available in these areas. At the same time, there are not many leisure and recreational spots for the IT crowd at this point of time. We want to fill this gap,” he said, adding that the project would be completed in about two years.
The company has already tied up with PVR Cinemas for the mall and has signed three IT clients too, he said adding that the rentals for Grade A IT office space in Uppal and surroundings would be about 50 per cent less compared to similar properties in the west side of the city, namely Hitec City, which has IT office clusters now.
Rentals in Uppal are around Rs 28-30 per sq ft compared to Rs 50-55 prevalent in key micro markets of Hyderabad, he said.
Agarwal said the area will see a planned development as Hyderabad metropolitan development authority had plans to develop about 500 acres into a residential township in the eastern side of the city. Also, a new city masterplan was in the making, he said.
Uppal already houses NSL Arena, an IT SEZ with about 7 lakh sq ft area. The first phase of the project is complete and the plan is to take up the second phase in early 2015. Two more phases will follow later.
HSR Ventures managing director D Srinivas Reddy is planning residential projects at Adibhatla, Hastinapuram and Uppal. The first two could be apartment projects and the last would feature independent houses.
“These projects are still in the planning stage. But eastern part of the city is high on our agenda. This part of the city will attract a lot of IT and related companies to set up operations. There are people who are now traveling to western part of the city for work. The metro rail project will be a lifeline,” he said. The company has recently built a high- rise project Amrut Akash near LB Nagar.
Another player, SatyaVani Green Homes, is launching its 15-acre Ushodayam Green Homes project at Annojiguda on the Warangal highway. On completion, it would have 1,800 units and could cater to the needs of Infosys, Genpact, Mindspace and other organisations setting up operations in the eastern part of Hyderabad.
http://www.mydigitalfc.com/news/hyderabad-warangal-corridor-spur-growth-809
Uppal, Pocharam and other areas in the east are already part of the IT revolution, with leading names like Infosys and Genpact, among others, having campuses in the area.
With a stretch of the metro rail project — which will have one of its depots at Nagole near Uppal — nearing completion, there will be demand for residential projects in the vicinity, according to property developers.
According to C Shekar Reddy, national president of the confederation for real estate developers and associations of India (Credai), there are several projects in full swing or in the planning stage towards Pocharam and beyond. The industrial corridor, a two-hour drive from Hyderabad, will increase the demand for housing, he said.
"The focus should be on getting big IT companies," he says. "They should start operations even with 150-200 people in the initial phases. The ITIR project also spans this region. The outer ring road is already operational. Then there is a plan for a regional ring road with a radius of about 70 km. With these plans, the eastern part of Hyderabad is poised for a leap.”
According to DSL Infrastructure and Space Developers managing director Manoj Kumar Agarwal, the company has begun work on DSL Abacus, an IT office and mall space project. This would cover about 8 lakh sq ft, of which 5 lakh sq ft would be devoted to offices and 3 lakh sq ft covered by the mall.
“Uppal and adjoining areas will be key markets in a few years. There is a lot of manpower available in these areas. At the same time, there are not many leisure and recreational spots for the IT crowd at this point of time. We want to fill this gap,” he said, adding that the project would be completed in about two years.
The company has already tied up with PVR Cinemas for the mall and has signed three IT clients too, he said adding that the rentals for Grade A IT office space in Uppal and surroundings would be about 50 per cent less compared to similar properties in the west side of the city, namely Hitec City, which has IT office clusters now.
Rentals in Uppal are around Rs 28-30 per sq ft compared to Rs 50-55 prevalent in key micro markets of Hyderabad, he said.
Agarwal said the area will see a planned development as Hyderabad metropolitan development authority had plans to develop about 500 acres into a residential township in the eastern side of the city. Also, a new city masterplan was in the making, he said.
Uppal already houses NSL Arena, an IT SEZ with about 7 lakh sq ft area. The first phase of the project is complete and the plan is to take up the second phase in early 2015. Two more phases will follow later.
HSR Ventures managing director D Srinivas Reddy is planning residential projects at Adibhatla, Hastinapuram and Uppal. The first two could be apartment projects and the last would feature independent houses.
“These projects are still in the planning stage. But eastern part of the city is high on our agenda. This part of the city will attract a lot of IT and related companies to set up operations. There are people who are now traveling to western part of the city for work. The metro rail project will be a lifeline,” he said. The company has recently built a high- rise project Amrut Akash near LB Nagar.
Another player, SatyaVani Green Homes, is launching its 15-acre Ushodayam Green Homes project at Annojiguda on the Warangal highway. On completion, it would have 1,800 units and could cater to the needs of Infosys, Genpact, Mindspace and other organisations setting up operations in the eastern part of Hyderabad.
http://www.mydigitalfc.com/news/hyderabad-warangal-corridor-spur-growth-809
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