Real Estate Developments alongside Outer Ring Road!

Hyderabad ORR, or the Jawaharlal Nehru Outer Ring Road, an initiative undertaken by the state to decongest the city has been the talk of the since its inception. This project was developed by the Hyderabad Metropolitan Development Authority (HMDA) at a cost of a whopping Rs 6,696 crore. Spread across 6000 acres of land, the ORR is designed for vehicles with a maximum speed limit of 120 km/ hour. 

The Japan International Cooperation Agency (JICA) provided a grant of Rs 3,123 crore for the project, which will reduce traffic congestion and improve connectivity between the suburbs around Hyderabad and the city centre.

The circular stretch of the Outer Ring Road, which spans over 158 km has enhanced the connectivity between NH-9, NH-7, and NH-4 roads. It features multiple carriageways and fences which help to ease the traffic on the arterial highways in the outlying suburbs of the city.

The Jawaharlal Nehru Outer Ring Road,  which predominantly runs across the Ranga Reddy and Medak districts serves a number of villages on its stretch, including Shamshabad, Tukkuguda, Kollur,  Medchal, Shamirpet, Narsingi, Gachibowli, Amberpet, Bongloor, Patancheru, among others. This has further given a boost to the real estate sector in these areas.

Impact of ORR on Real Estate:

Outer Ring Road (ORR) in Hyderabad has directly resulted in the establishment of growth corridors around the city, thus enabling additional city expansion and development. As the demand for real estate in the city grows, these growth corridors provide a mechanism to fulfil the same. Integrated townships, plotting projects and other residential areas have come across the corridors, and have improved Hyderabad’s economic environment, reduced urban congestion, and encouraged planned suburban development around the city.

With the ORR being a key attraction, areas surrounding it have also witnessed a surge in property prices. Areas such as Medchal, Gachibowli, Kokapet and others have seen a significant rise in property costs due to improved connectivity and easy access to other parts of the city.

New areas for residential and commercial development have opened up, and have resulted in several high-end residential and commercial projects in the pipeline. This has also further given a boost to the creation of new employment opportunities in the region and aided the growth of the local economy.

The development of the Outer Ring Road further provoked the development of improved infrastructure in areas along the expressway.

The government has undertaken several measures such as road widening and improvement projects, which will result in better connectivity and smoother traffic flow.

All of these factors have made the areas around the ORR more attractive to buyers and investors.

No doubt, the Outer Ring Road project in Hyderabad has had a significant impact on the real estate sector in the region. It is, in fact, a critical component of the city’s evolution into a global centre. With the State Transport Corporation plans in the pipeline to construct 22 terminal-cum-depots (TCDs) along the Outer Ring Road, there will further be a rise in property prices here, along with the development of new residential and commercial projects and an increase in the demand for rental properties in the region.

This undoubtedly makes the areas in Medchal and Ranga Reddy districts the ideal investment hub for the future.

TMR Green Meadows at Chegunta, just 30 minutes away from Medchal, and TMR Swiss County at Maheshwaram in Ranga Reddy district are nestled amidst a number of development opportunities. Come plot a successful future here for your family and loved ones that are surrounded by growth and progress. Visit https://tmrinfra.com/ for more details. 

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Diversified Workforce Driving The Real Estate Growth In Hyderabad!

The start of 2023 witnessed decent growth in the housing and residential segment in real estate. And this boom continues its dream run as Hyderabadis keep up with their stint of upsizing their living spaces to homes that can accommodate all their needs. Apart from the necessary requisites, it comes with the need for space for amenities that have been in the limelight especially post the pandemic – whether it is a comfortable workstation, workout space, an extra room or a large balcony.

The Hyderabad residential market includes four districts in the state, namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy districts. Not surprisingly, with growing demand for space, the mid and high-ticket value homes have led the growth here, a phenomenon not observed until a few years ago.

In February 2023 alone, Hyderabad recorded the registrations of 5,274 residential properties. The total value of properties registered in the month on the other hand stood at Rs 2,816 crore, according to market reports. The reports note that the registration of home sales in February has risen by 3% YoY, but the registration revenue collections slightly decreased by 1% YoY for the same time period.

The number of registrations recorded for residential units in the price band of Rs 2.5-5 million (Rs 25-30 lakhs), constituted almost 51% of the total registrations in February 2023.

On the other hand, in January 2023, the city witnessed transactions for residential properties worth Rs 2,422 crore in the residential markets of the four districts – Hyderabad, Medchal-Malkajgiri, Rangareddy, and Sangareddy. The start of the year recorded a whopping 4,872 apartment unit registrations. Units in the price band of Rs 25 to Rs 50 lakh constituted 54 % of the total sales, which is a sharp increase from a share of 39% recorded in January last year, as per available data.

The sales registrations for properties with ticket sizes of over Rs 50 lakh increased simultaneously to 28% in January this year, up from 25% in January last year.  The affordable housing segment however accounted for only 18% of the demand.

Residential sales in units larger than 1,000 sq ft saw the maximum demand, as 71% of sales were registered for homes between the size bracket of 1,000 and 2,000 sq ft. As Hyderabad gains momentum as the Tech and Pharma capital down south, this demand is expected to grow in the coming years. Industry experts say that with the city’s developing socio-economic environment, state-of-the-art infrastructure, and varied workforce, the residential market here has a huge market potential.

Market studies highlight that most buyers fall in the mid-income category and are usually salaried professionals. This stability, therefore, indicates that, despite the rise in prices and hikes in interest rates, the end users have the financial confidence to make long-term commitments.

The Medchal-Malkajgiri district recorded the highest home registrations at 41%, followed by the Rangareddy district at 35% and the Hyderabad district at 15% in January this year. Now is the right time to make an investment in these hubs of the future, for prosperous returns.

TMR Swiss County at Maheshwaram, located in the Rangareddy district of South Hyderabad, connects you to the areas in Outer Ring Road (ORR) and ultimately to the core areas of Hyderabad.

TMR Swiss County at Maheshwaram, located in the Rangareddy district of South Hyderabad, and

TMR Green Meadows, just 30 mins away from Medchal is nestled amidst a number of development opportunities. The easy access to the city, connectivity to the areas in Outer Ring Road (ORR) and ultimately to core areas of Hyderabad, and the proposed 6-lane highway and 6 flyovers among projects on the radar will ensure seamless growth for your investment.

That’s what makes a plot with TMR Group the ideal choice for land investment. Come book one for yourself today. Visit https://tmrinfra.com/ for more details.

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