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Telangana Budget 2022 will boost Hyd real estate
Telangana Budget 2022 will boost Hyd real estate
Over `2.3 lakh cr allocations on infrastructure projects will help the real estate market, says Rakesh Reddy
Hyderabad: Telangana Budget for 2021-22 with Rs 2.3 lakh crore has significant allocations towards roads, transport, power, irrigation and other infrastructure development projects with emphasis on Hyderabad, said Rakesh Reddy, Director, Aparna Constructions and Estates.
The city's strong fundamentals, combined with continued infrastructure development, will help aid the revival of Hyderabad's real estate market in 2021. Reddy says, "Hyderabad real estate prices are expected to appreciate in 2021 because the city offers affordability without compromising on amenities.
The development of Hyderabad's growth corridors has buffered the city from market downturns by providing a way to meet demand without unrealistic price surges."
Accordingly, there will be a greater shift in demand to the growth corridors of the city such as Kompally, Tellapur, and Patancheru. The allocation of Rs 1,000 crore for Hyderabad Metro rail will improve connectivity across the city. Hyderabad's growth corridors give the city many avenues for real estate development, he added.
The outer ring road was a direct factor in the emergence of growth corridors. The allocation of Rs 750 crore for land acquisition for regional ring road will allow for further expansion and development in Hyderabad. As demand for Hyderabad real estate rises, the expanse of the growth corridors offers a way to meet growing demand.
Affordability will be a key driving force of growing demand. To bolster affordable housing in the city, Rs 11,000 crore has been allocated towards a 2 BHK housing scheme for the low income segment.
"Hyderabad is renowned for its high quality of life. In keeping with this commitment, the Budget allocations include Rs 250 crore for supply of free drinking water to every household in the city, Rs 725 crore for a new project in Sunkesula to cater to future water needs of the city, Rs 200 crore for restoration and beautification of the Musi river, and Rs 250 crore to provide drinking water to the newly-formed colonies within the outer ring road," said Reddy.
The real estate market in Telangana is supported by proactive governance and business-friendly policies. The emphasis on infrastructure development reinforces the city's core strength and is a positive outcome for the sector, he added.
