Telangana becomes top real estate market in India

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The real estate sector is flourishing in Hyderabad’s suburbs and Telangana is one of the top markets for property in the country after Gujarat. Three locations coming under the GHMC (Greater Hyderabad Municipal Corporation) limits, namely Quthbullapur, Serilingampally and Rajendranagar are driving growth. Rajendranagar and Serilingampally are situated in close proximity to major IT hubs of Kondapur, Gachibowli, Nanakramguda and Madhapur which indicates that the growth in the IT and ITeS sectors in Hyderabad are positively affecting the real estate market.

As per studies, SEIAA (State Environment Impact Assessment Authority) of Telangana got a total of 98 applications which sought Environmental Clearances which come under the New Construction Projects and Industrial Estates segment. These are premium real estate projects since according to the Ministry of Environment and Forests’ (MoEF) notification of 2006, construction ventures with built-up areas between 20,000-1,50,000 sq. metres are required to apply for environmental clearances to the organization.

Reports have revealed that out of these 98 projects, approximately 16-17 projects are in the industrial or commercial category. The remaining projects are all in the residential segment. Amongst the industrial or commercial projects, half of the properties are situated in Serilingampally which are IT Parks. The IT and ITeS industries are fueling massive growth in Rajendranagar and Serilingampally. There are spaces for real estate development located on the outskirts of Hyderabad.

Multiple realty projects are now coming up here in Patancheru and Quthbullapur. Some of the other areas where real estate development is taking place include Malkajgiri, Ramachandrapuram, Ameerpet, Uppal, Saroornagar, Shankarpalle, Balanagar, Khairatabad, Shameerpet, Maheshwaram, Sangareddy, Medchal, Secunderabad, Golkonda, Shaikpet and Choutuppal.

The Gujarat SEIAA has received around 175 applications as per reports for ventures falling under the New Construction Projects and Industrial Estates segment. The projects are located in several cities such as Vadodara, Ahmedabad, Surat, Valsad and Rajkot