Hyderabad Metro boosting the real estate market in the city
Hyderabad Metro has become the new pavement for the development of the city. With the arrival of Metro, the real estate market is boosting across the metro routes. The demand for residential and office buildings have increased greatly near metro stations and near the metro routes. Real estate market in Hyderabad is expected to be blooming more with Governments idea of extending Metro routes for another 80 km.
With the arrival of the Metro, the Hyderabad lookout is changing and new paths are developing across the city. Metro is contributing greatly to the development of the city. Apart from reducing the
The expansion of Metro
Currently, the Metro route is available around 72 km in the city. Metro-trains already running between Miyapur- L B Nagar and Miyapur- Nagole. By the end of this month, the Metro train will run on the Ameerpet-Hitech City stretch. In the second phase, the government has taken steps to extend the Metro rail route for another 80 km. The Delhi Metro has already prepared a detailed project report (DPR) for this purpose. The expansion plans are expected to begin this year. Market sources say that the realty boom has been steadily rising in the areas where Metro routes are coming.
Great Real Estate demand in Three major routes
The first phase of the Metro Rail Project is from Miyapur to L B Nagar, from Nagole to Hi-tech City and from JBS to MGBs. Initially, there was a great demand for the sale of buildings and now new constructions are also initiated in these areas. People are showing interest to live near Metro routes and at the same time, even the companies are coming forward to establish their offices in the same areas. Few people are also buying houses and flats in these areas, keeping in view the growing demand.
The same situation even in the City outskirts
Metro is also now available in the city outskirts. Hence most of the people are showing interest to buy houses in the city outskirts like Chandanagar, Madeenaguda, Beeramguda and nearby areas of L B Nagar like Vanasthalipuram, B N Reddy Nagar, Hastinapuram, Nagole and Uppal.Prices of homes and apartment flats in these areas are currently reasonable and are suitable for the middle-class families. Agents and builders are saying that due to this the sales are raising high gradually in these areas.
Extending Metro route till Shamshabad Airport
The first phase of the Metro train is now available till Madhapur High Tech City. Soon, it will be extended further from Mindspace Raheja and Raayadurgam via Gachibowli, Nanak ram guda, Narsingi and Outer Ring Road till Shamshabad Airport. Another route is will also be extended from Gachibowli via Kondapur till BHEL. Another Metro route has been proposed from Mehdipatnam to Lakdi ka pool. With the extension of Metro routes, the real estate market is gaining boom, especially in IT corridors i.e. in Madhapur, Kondapur, Gachibowli, Kokapeta and Narsingi.
The growing interest of IT Employees
IT employees are showing interest to buy their houses nearer to their companies i.e. within a distance of 5 km. Consequently, most of the constructions are taking place around the IT corridor. The real estate boom in the IT corridor has increased greatly with the arrival of the Hyderabad Metro.