Hyderabad as a city is progressing with numerous residential and commercial projects mushrooming in the vicinity. While the rest of India is seeing a QoQ growth of 84% in the sale of residential sector, Hyderabad is the leader on the board in new launches with a staggering rise of 480% QoQ. We can very well say that Hyderabad is shaping up its future along with the landscape of the historic city. Here are a few of the major developments happening in and around Hyderabad.
Construction of Musi River Expressway
In order to restore and give a face-lift to Musi, the Musi Riverfront Development Corporation Ltd (MRDCL) is setting up rain gardens, removing shrubs to reduce the mosquito menace, and clearing silt from the riverbed for a free flow of water from Bapughat to Nagole Bridge. The beautification of 40 lakes in GHMC and HMDA limits were carried out at a cost of `541 crore in Phase I. In the later stages, the project is bound to cover 185 lakes.
Extension of the Metro Rail
The Hyderabad Metro Corridor II, connecting Hyderabad and Secunderabad encompasses a total of 9 junctions, spanning across 11 kilometers. This corridor from Jubilee Bus Station to Mahatma Gandhi Bus Station will cut down on the travel time to about 16 minutes as compared to road travel that takes 45 minutes for daily commuters to cover. It will also stand as a crucial junction linking the existing Metro I (Miyapur-Ameerpet of 13 km) & Metro III (Ameerpet-Nagole of 17 km) corridors.
The Hyderabad Metro Rail which is the world’s largest Public-Private Partnership (PPP) in the arena of metro rail, is a landmark project in India that currently witnesses about 4,00,000 daily commuters on an average.
Construction of subways and underpasses
Hyderabad is on the cusp of major transformation as the city gears up to build subways and underpasses in major locations to decongest city traffic. 52 major junctions in the city were identified to develop as signal-free junctions. The said works worth over `3,000 crore were being taken up in the limits of Greater Hyderabad Municipal Corporation under the Strategic Road Development Plan.
Also, the Government of Telangana has undertaken the Radial Ring Road (RRR) project with an aim to provide better connectivity and plans to extend the existing Ring Roads (Inner/Outer) to 4/6 lanes.
The proposed 159 km long Outer Ring Road project is said to decongest the traffic snarls around the cities and cover towns such as Patancheru – Shamshabad – Hayathnagar – Medchal – Patancheru. The ORR will also link other National Highways, State Highways, Major District Roads (MDR) and other roads. The Government of Telangana has initiated a new department called Hyderabad Growth Corridor Ltd. (HGCL) to execute and supervise this project.
At TMR Group, we look forward to such developments as it boosts the real estate business in Hyderabad. With our clear title NA plots situated in most of the strategic locations around these developments, the investors and buyers are certainly in for an enormously progressive journey ahead.