With the rapid development of Hyderabad’s real estate sector often grabbing headlines, many builders and other developers from other cities are traveling to the state capital for inspections.
Release date – Sunday, July 23 at 07:40 PM
Hyderabad: Hyderabad often grabs headlines for its fast-growing real estate sector, especially in terms of uptake of commercial space and luxury residential apartments and villas, with many builders and other developers from other cities making their way to the state capital.
A team of 250 people from Maharashtra is expected to visit the city soon. This follows a delegation from the Youth Section of the Maharashtra Builders Association who visited the city last year.
Sharing the details behind the practice, CREDAI National Secretary G Rami Reddy said the development in Hyderabad has been amazing, especially in the past seven years. The rapid development of various fields such as medicine, industry, IT, and life sciences has also led to positive growth in the real estate industry.
Skyscrapers ranging from 30 to 50 stories dot the cityscape. After Mumbai, Hyderabad has the highest number of high-rise buildings. Currently, Hyderabad is the most active city in the country. Villas here range from Rs 3 crore to Rs 30 crore. Likewise, there are apartments, which are priced around Rs 5,000 to Rs 15,000 psf. No other city has such diversity, he said.
Abandoning traditional techniques, a complete aluminum formwork project has emerged. This is a system used to form cast-in-place concrete structures for buildings. Builders come here to learn advanced techniques and construction practices, he said.
Clubhouses in several gated communities have also attracted the attention of many architects, builders and contractors. Landscaping in the project has also been given equal attention.
During these trips, they studied residential apartments, high-rise buildings and luxury villas. He said that in addition to the market potential, all aspects from the base to the finish and the advanced technology used will be discussed.
“Building permit approvals are transparent, but many big cities don’t. There’s no political corruption here, and that’s the biggest differentiator,” says Rami Reddy.
Even in the rural areas of Telangana, magnificent buildings are being constructed. “In the village of Chityala, I have personally noticed the amazing architecture. Buildings enabled by facades, glass walls and solar fences are about to be built. There has definitely been an increase in affordability for people in Telangana,” he said.
Tourists are not only from Maharashtra. CREDAI Hyderabad secretary V Rajashekhara Reddy said builders from the Delhi NCR region and some Kolkata had also shown interest in visiting Hyderabad to study different aspects including commercial spaces, warehouses and residential structures.
The biggest advantage of Hyderabad is infrastructure. Many cities face many challenges due to lack of infrastructure or poor planning. Connecting roads, overpasses and underpasses have been built to ease traffic congestion. This has made many builders look to Hyderabad, he added.
