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With TS-bPass making certification services smoother, Hyderabad realtors are finding the stretch between Shamirpet and Siddipet more attractive. They are trying to spread their investments in these regions.
With TS-bPass making certification services smoother, Hyderabad realtors are finding the stretch between Shamirpet and Siddipet more attractive. They are trying to spread their investments in these regions.
Claiming that the saturation level of west Hyderabad is what led to increasing investments in eastern parts of the city such as Nagole, Uppal, and LB Nagar, realtors are hoping to work around the zoning regulations that are in place in the northern part of the city. With 80 per cent of the labour force back to work, builders are finally able to finish existing projects and plan newer ones.
Speaking to Express, Rajashekhar Reddy, General Secretary of Confederation of Real Estate Developer’s Associations of India (CREDAI), Hyderabad, said, “The area around Genome Valley in Shamirpet is a very lucrative market right now as the number of employees in the pharma city is increasing by the day. Therefore, we are hoping for massive investments in terms of both residential and commercial spaces.
However, the space available in the area is very restricted and only for residential development. For commercial development, there needs to be removal of zoning regulations that are in place. Close to a 60 km stretch is available now. The employees from the R&D centres are mostly renting spaces in areas like Alwal, Kompally, and Uppal, which is still far away from their work places.”
He further added, “We have spoken to the State government regarding the zoning regulation, and Principal Secretary of IT and Industries Jayesh Ranjan has given us a positive response. So right now, we are working with the government to deregulate the area for commercial investment as well.”
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