Quantcast
Channel: Property Pulse - MagicBricks » hmda Articles
Viewing all 16 articles
Browse latest View live

HMDA to wind up ORR land issue

$
0
0

Hyderabad: After five long years, the Hyderabad Metropolitan Development Authority (HMDA) is all set to wind up the land acquisition process for the Outer Ring Road (ORR). It is planning to end the process in January 2011 by allotting land-to-land compensation to about 2,800 individuals, who game up their land for the project. Join us on Twitter | Join us on LinkedIn | Join us on Facebook The authority has also started posting village-wise details of names of the affected land owners, survey no., extent, compensation paid and structural value on its website. HMDA officials said details of Units 2, 4, 5 and 6 have been posted on the website, while Unit 1 details would be put up soon. For the 170-kilometre ORR, land acquisition process began in 2005, but gathered momentum only in 2007 after the state government fixed compensation package for farmers losing their valuable land to the ORR. For ORR Phase I, II-A and II-B projects, the HMDA had acquired nearly 6,100 acres in 85 villages in surrounding areas of the city from 8,000 land owners. In Unit 4, which covers areas like Shamirpet, Thumkunta, Yadgarpally, Cheeryal and Ghatkesar villages and part of Phase II-B, 2,016 property owners lost their land. Over 80 acres of land — 55 acres in Kandlakoya, four acres in Poppalguda, 10 acres near Muthangi junction, eight acres in Shamirpet and four acres in Keesara areas — are still caught in legal wrangles. Officials hope the court verdict would be out by the time the ORR gets completed in 2012. Towards land acquisition, nearly Rs 500 crore compensation has already been paid and another Rs 100 crore would have to be paid to land owners in some areas where the urban development authority deposited a part of the compensation in court as the land owners did not come forward to take compensation and denied to give consent. In some cases, there were title disputes between parties, while in some there were no claimants. At the beginning, officials thought they would need about 8,000 acres of land for ORR and satellite townships along it. The authority even created separate units to acquire land. However, they dropped the idea of acquiring nearly 2,000 acres for townships following opposition from the people. An acquisition unit, 3, was also withdrawn by HMDA three years ago. “Under land-to-land compensation to 3,600 individuals, 859 people were allotted plots in developed layouts in Shamshabad and Srinagar. The rest would be given plots in Kondapur, Yadgarpally, Thimmaipally and Koheda by January, 2011,” ORR special deputy collector (land acquisition) K Bhaskar said.


Plots auction earns HMDA 22.37 cr

$
0
0

Hyderabad Auction of plots in various layouts in the city has fetched Rs 22.37 crore to the Hyderabad Metropolitan Development Authority (HMDA). Of 97 plots put up for auction, 65 were sold as e-bidding opened on Monday. Join us on Twitter | Join us on LinkedIn | Join us on Facebook Plots in Gopanpally layout were all sold out where the HMDA got the highest bid of Rs 22,126 per square yard, while the lowest bid, Rs 10,500 per sq yard, was for a plot at Mushak Mahal. At Gopanpally, 17 plots were developed by the HMDA exclusively for the auction. The HMDA had conducted auction for plots at Gopanpally, Nallagandla residential layout, Miyapur residential layout, Chandanagar (Ramachandrapuram), Mushak Mahal, Tellapur, Asifnagar and Nandagiri Hills through e-bidding. There were no bidders for plots at Nandagiri Hills. Though a lone bid was submitted, it was found that the demand draft submitted was fake and was disqualified.

HMDA to auction land to fund ORR project

$
0
0
land

Hyderabad

With no funds to clear the bills of the Outer Ring Road (ORR) and other projects, Hyderabad Metropolitan Development Authority (HMDA) has decided to mobilise resources by auctioning land in November.

It has decided to mobilise at least Rs 200 crore within a month so as to pay Rs 165 crore to the contractors of ORR, as part of the Build, Operate and Transfer (BOT) annuity scheme. Apart from this, the urban development authority has to release funds for rail over bridge (ROB) at Hi-Tec City and leftover works (ramps) of the PVNR Expressway. HMDA had awarded 62 kms of ORR under package II-A under BOT-Annuity for a concession period of 15 years, including twoand-half-years construction period, in November 2007.

Five packages, namely Pedda Amberpet to Bongulur (13kms), Bongulur to Tukkuguda (13 kms) and Tukkuguda to Shamshabad (12.63 km), Narsingi to Kollur (12 kms) and Kollur to Patancheru (11.7 kms), all worth about Rs 2,439 crore were given to contractors. While the works of first three packages (Pedda Amberpet to Shamshabad) were completed in the first quarter of this year, two packages (Narsingi to Patancheru) were completed a couple of months ago and were thrown open for public.

In April, the contractors were given Rs 100 crore since works were incomplete. Now, the metropolitan authority has to pay Rs 165 crore under semi-annual annuity basis to the contractors. The officials are worried that if there is any delay in payments, the contractors may discontinue remaining works between Narsingi and Patancheru.

“HMDA has recently written a letter to the state government to release Rs 165 crore to the contractors since the authority is in financial crisis. As the state government is also in financial problems, the authority is making its own arrangements by way of land auctions,” a senior HMDA said.

Officials said the HMDA has been passing through financial crisis for the past few months with no source of revenue except through land auction, building penalisation scheme (BPS) and layout regularisation scheme (LRS). As no land auction has been conducted for the past few months, it was keeping itself afloat with the processing of pending LRS and BPS applications.

They too did not fetch much in the past one month due to the employees participating in the Sakala Janula Samme. Sources said HMDA has identified 4.75 acres in Nandagiri Hills of Jubilee Hills and about three acres plotted land in Gopanpally near Gachibowli for auction. Another eight acres of land at MLA Colony in Banjara Hills was also being considered for the auction. The authority hopes that the land auction might fetch about Rs 200 crore since it is prime land.

“There is a legal litigation over the Banjara Hills land and the authority is taking legal opinion whether to put up the land for auction or not. The HC verdict was in favour of the HMDA and the other party went for an appeal and again there is a status quo on the appeal,” an official said. Apart from these parcels of land, about 60 leftover plots would also be put up for the auction. When contacted, HMDA estate officer G Ashok Kumar said the authority was planning to conduct an auction in November and exact dates were yet to be finalised.

Source: The Times of India, Hyderabad

Firms line up for land in Jawaharnagar

$
0
0
land

Hyderabad

The Hyderabad Metropolitan Development Authority (HMDA)’s plan to turn Jawaharnagar into a development zone seems to be working with several companies and institutions queuing up for allotment of land in the area. Over half-a-dozen companies have sought land in Jawaharnagar but the state government is yet to take a final call on it.

Officials said that after AP Industrial Infrastructure Corporation (APIIC) allotted land in Madhapur and Gachibowli areas to companies, as part of its drive to promote industries, the state government started looking for other zones to be similarly developed.

Land allotments were made in eastern Hyderabad with companies like Infosys and Raheja setting up campuses near Pocharam. In Ibrahimpatnam mandal, land has been recently allotted to security forces. But since these areas are low on space, the companies are now looking for an address in Jawaharnagar.

HMDA has developed land in about 800 acres for both commercial and residential purposes after dividing the area into 13 blocks. The blocks were designed to range from 20 to 100 acres.

Among entities seeking land is management school XLRI of Jamshedpur, which has asked for about 100 acres to set up a campus. Similarly, the National Institute of Pharmaceutical Education and Research (NIPER) has sought another 100 acres for its requirements. Currently, NIPER is operating out of Indian Drugs and Pharmaceutical Limited (IDPL) in Balanagar. Singareni Collieries wants about 30 acres for setting up a training institute while some others like All India Management Schools’ Association have asked for 10 to 50 acres.

“HMDA has received land allotment requests from about a dozen institutions and firms. They have been forwarded to the municipal administration and urban development (MA&UD) department since decision in the matter is the state government’s,” HMDA member (Estate) P Krishna Mohan Reddy told STOI.

A few years ago, the state government had allotted nearly 2,300 acres to HMDA for resource mobilization wherein the urban body would develop land and auction it off to private companies. Of that initial pool of land, 600 acres was allotted for BITS Pilani and other institutions.

Of the remaining 1700 acres, 900 acres is either in litigation or has been encroached upon. Twenty four cases are pending in AP High Court, Medchal and Saroornagar.

Sources said the decision on auction of plots would be taken by the end of this month as HMDA awaits state government clearance.

Source: The Times of India, Hyderabad

HMDA set to finalise draft master plan

$
0
0
hyderabad high rises

Hyderabad

With the last date for submission of objections and suggestions on draft master plan for the Hyderabad Metropolitan Region (HMR) just 10 days away, the Hyderabad Metropolitan Development Authority (HMDA) has begun the exercise to finalise the plan.

The draft master plan for the extended area was released in July, 2011, and soon after, objections and suggestions were invited from general public. After several extensions, March 31 has been fixed as the last date for receiving objections/suggestions. The HMDA had recently translated the draft master plan into Urdu and posted it on its website. The zoning regulations have been translated into Urdu and hard copies have been put up for sale at its offices.

So far, HMDA has received 3,378 objections and suggestions from citizens. Of them, 1,864 came from 17 mandals of Ranga Reddy district, 499 from 10 mandals of Medak, 247 from two mandals of Mahbubnagar and 223 from five mandals of Nalgonda district.

The highest number of petitions, 422, were received from Kandukur while 257 were received from Rajendranagar, 237 from Maheshwaram and 227 from Shamirpet. Similarly, 161 petitions were given by people in Kothur mandal of Mahbubnagar district and 141 from Ramachandrapuram mandal in Medak district.

Most petitions were on land usage, roads and grid pattern of the Outer Ring Road (ORR) growth corridor. Villagers of Moinabad, Shamshabad, Chevella, Kothur and Maheshwaram have sought change in land usage from conservation zone to residential zone as most of these villages fall under the purview of GO 111. They demanded that HMDA increase the residential usage to 50% from the existing 10% of total area. Some residents have sought multiple land use, where all activities are allowed especially on main roads connecting ORR and radial roads.

Land owners of the ORR growth corridor want access to the proposed eight-lane road. “Genuine objections and suggestions will be taken into consideration while finalising the master plan irrespective of the number of objections on the issue,” HMDA planning consultant VVLN Sarma told TOI.

Source: The Times of India, Hyderabad

Hyderabad Govt approves reservations for EWS, LIG in housing projects

$
0
0
affordable housing

Hyderabad

Succumbing to pressure from builders and realtors’ lobby, the state government has amended the order (GO No. 45) and gave them relief from reserving 20% of developed land or housing units to economically weaker sections (EWS) and low income groups (LIG).

The municipal administration and urban development (MA & UD) department on Saturday issued GO Ms No 245 exempting housing projects in five acres from reserving 20% of the developed land for EWS and LIG. However, the developer or builders taking up projects in land measuring between 3,000 square (sq) metres and up to five acres have to pay ‘shelter fee’ to the respective municipal bodies.

The GO No 45 which made it mandatory to reserve 20% of housing projects for EWS and LIG in layouts above 4,000 sq metres as per norms stipulated under the Jawaharlal Nehru National Renewal Mission (JNNURM) drew flak from builders and developers who have stalled major projects for the past one-and-half years. To resolve the issue, the MA & UD department appointed a committee with officials drawn from Director of Town and Country Planning (DTCP), GHMC and HMDA, which submitted its report a few months ago.

As per the latest amendment, if the area of a project is above five acres, builder or developer should provide 10% of the total built-up area to EWS and LIG (5% each) or 25% of the total number of housing units to the two sections (12.5 % each). However, they have the option of reserving units. The developers would get 10% concession in city-level infrastructure impact fee for the main project and total exemption for the part being reserved for EWS and LIG.

The state government has not only reduced the EWS and LIG reservation but has given realtors the option of taking up housing projects for the two groups within a radius of 10 kms from the main project site or within five kms from the nearest aerial boundary of municipal limits in cities like Hyderabad, Visakhapatnam and Vijayawada. The GO said two or more builders/developer could provide a specified number of EWS and LIG units with all civic amenities, but occupancy certificate for the main projects would be released only after completion of EWS or LIG units. Separate undertaking would have to be obtained from builders concerned by the local body. Projects taken up in an area measuring below 3,000 sq metres are exempted from both EWS and LIG reservation and also from payment of ‘shelter fee’.

The shelter fee is Rs 750 per sq metre in the Greater Hyderabad Municipal Corporation (GHMC) limits, Rs 600 in other municipal corporations, Rs 500 in selection and special grade municipalities and Rs 400 in other municipalities and panchayats falling under urban authorities. The shelter fee collected from the developers would be utilized for development of housing for EWS and LIG under JNNURM or any other housing schemes meant for those sections.

Source: The Times of India, Hyderabad

Hyderabad realty prices to stabilise with master plan approval

$
0
0
hyderabad-rental

Hyderabad

At a time when political uncertainty is reaching its zenith, the Hyderabad Metropolitan Development Authority’s (HMDA) decision to approve the master plan has sent strong signals to the realty sector on the need to be flexible as well as pragmatic in the city’s developmental plan.

According to realtors, the relaxation in FSI will enable developers to build more but they will also have to ensure that 60 per cent of the area should be earmarked for parking space. As the city is in an advantageous position with the feasibility to expand in all directions, the city area can expand to 5965 sqkm. Industry sources now consider that Hyderabad is the largest city after NCR in terms of area coverage for the metro.

According to veteran realtor, M L Rao of Equity Realtors, easing of FSI norms and availability of large land parcels at competitive prices would make housing affordable for the vast majority of the people in suburbs and peripherals in future. This will also in turn encourage more developers and investors to partake in the city’s development plan. Construction activity will pick up momentum in the coming years.

According to industry sources, availability of large land areas in the city’s outskirts has encouraged a consortium of Japanese investors to look at investment spanning 5,000 acres to develop a global park. Unlike other cities which has a coastal line, Hyderabad is placed in an advantageous position in that it can expand in all directions. This has virtually made the policy makers to expand the city’s activities by acquiring additional land at competitive prices.

There are others in the industry who feel confident that the outer ring road growth corridor would be further expanded to phase 2 which will be 50 km away from the existing outer ring road. This is yet another reason for the government to have become flexible in easing FSI norms which in turn will augur well for the construction industry to build housing and commercial real estate at competitive rates.

V Nagarajan, Property Consultant

New hope for owners of illegal buildings in Hyderabad

$
0
0
hyderabad-4

Hyderabad

At a time when civic bodies are hesitantly pulling down illegal constructions in the city, a special provision has been made in the Hyderabad Metropolitan Region (HMR) master plan to regularise unauthorised structures.

The new master plan bestows on metropolitan commissioner of Hyderabad Metropolitan Development Authority (HMDA) the power to regularise unauthorised buildings, which were constructed without the permission of the authority in its jurisdiction. However, it comes with a rider that the construction should be as per the prescribed rules and regulations and property owners would have to pay penal amount and other charges as prescribed by the metropolitan commissioner.

People, who have been protesting the Building Penalisation Scheme (BPS), are worried about the provision for regularising illegal constructions. Interestingly, there is no specification whether regularisation would be done irrespective of size of plot and height of the structure.

Both the Greater Hyderabad Municipal Corporation (GHMC) and Hyderabad Metropolitan Development Authority (HMDA) have been struggling to clear pending BPS applications even four years after the scheme was announced. Though applications for regularisation were considered for constructions that came up before December 2007, unauthorised structures continue to come up unabated.

“The provision will encourage builders and owners to raise more unauthorised constructions, especially in surrounding areas of the city. Many unauthorised buildings were raised in gram panchyats like Manikonda, Nizampet and Boduppal and the provision will become handy for those builders,” B Rama Sarma of Shivasai Nagar Residential Welfare Association near Kushaiguda said.

Similarly, the master plan has opened doors for continuation of Layout Regularisation Scheme (LRS), which came to an end in December 2012. A clause has been incorporated in the master plan that permission for building would not be considered by the sanctioning authority unless such “site is part of a valid approved layout or scheme or is being regularised by authorities concerned”.

In other words, if a plot is not part of an approved layout, the HMDA or any other body which has been delegated power by the authority can approve the plot by levying penal amount of proportionate layout charges and other fees.

GHMC officials said the provision should be made applicable to individual houses in smaller plots and buildings which are less than G+2. “The corporation has been collecting penal amount from builders who take permissions and deviate from the sanctioned plan while giving occupancy certificate. The building are being regularised if the deviations are less than 10%,” a senior official of the GHMC (Town Planning wing) said.

Under a special provision in the new master plan, the metropolitan commissioner of Hyderabad Metropolitan Development Authority (HMDA) has the power to regularise unauthorised buildings, which were constructed without the permission of the authority in its jurisdiction

But this comes with a rider that the construction should be as per the prescribed rules and regulations and property owners have to pay penal amount and other charges as prescribed by the metropolitan commissioner

This may add to the burden of the GHMC and HMDA as they have not cleared the pending BPS applications even after four years of the scheme

Source: The Times of India, Hyderabad


Bio-conservation zone villages in Hyderabad want rules relaxed

$
0
0
hyderabad_builders

Hyderabad

A month after the Hyderabad Metropolitan Region master plan was approved by the municipal administration and urban development (MA&UD) department, inhabitants of 84 villages, which fall under the bio-conservation zone, have decided to renew their demand to relax rules for development of their settlements.

The Hyderabad Metropolitan Development Authority (HMDA) has extended residential use zone (R4) for rural settlements in the master plan for 2031. For villages, other than 84 in the bio-conservation zone, the authority has earmarked an additional 300-metre-wide belt outside the gramkantham (village settlement) as residential zone. In other words, buildings up to a height of 10 metres would be allowed 300 metres outside the gramkantham.

However, curbs on construction activity in 84 villages, which fall under the catchment areas of Osmansagar and Himayatsagar lakes as per the GO 111 issued in 1996, would continue as no relaxations were allowed. The residential use has been allowed only in gramkantham areas of those villages.

“The residential zone has been expanded to cater to natural expansion of villages in HMDA area except the bio-conservation zone. But, natural expansion will also take place in 84 villages, especially settlements that are close to the city like Moinabad, Shamshabad, Shankarpally (part) and villages that are close to the Outer Ring Road like Tondpally and Ottapally. The authorities have ignored the villages,” Citizen’s Forum for Beautiful Hyderabad’s Dr V Narasimha Reddy said.

The villagers claim there was population explosion in Rangareddy district with 48% growth recorded in the 2011 Census when compared to the 2001 Census. The Rangareddy district population rose to 52,96,396 in 2011 from 35,75,064 in 2001. The growth was 40% in 2001 compared to the 1991 Census. “We are not against the catchment area or water flow to the water bodies. Expansion of gramkantham will not obstruct free flow of water to the water sources,” MS Masood, a resident of Moinabad, said.

The locals of these villages and the state sarpanches’ association have been agitating on removing curbs on 84 villages and had even staged protests in the last few years. They had even submitted a representation to HMDA for relaxations in the new master plan. “Hundreds of illegal constructions, including high-rise buildings, have come up in the catchment areas of Himayatsagar and Osmansagar. The Rangareddy district collector had even submitted a list of unauthorised constructions in the catchment area. The officials, who could not stop illegal constructions in the catchment area, are averse to expansion of gramkantham,” Ch Satyanarayana, ex-sarpanch of Devuni Erkapally, told TOI.

When contacted, HMDA master plan consultant VVLN Sarma said they did not consider the expansion of gramkantham in 84 villages of the bio-conservation zone despite several representations were received as the very purpose of restrictions would be defeated.

Source: The Times of India, Hyderabad

Panel to negotiate with ORR land losers in Hyderabad

$
0
0
hyderabad-property-market

Hyderabad

The municipal administration and urban development (MA&UD) department has constituted a committee to negotiate with property owners likely to be affected by the Outer Ring Road (ORR) at Kandlakoya junction on the Patancheru-Shamirpet stretch.

Headed by Hyderabad Metropolitan Development Authority’s (HMDA) metropolitan commissioner Neerabh Kumar Prasad, the committee would also include Rangareddy district collector Vani Prasad and ORR project director Samuel Anand Kumar as members, according to a government order (GO) issued by the MA&UD department on Monday.

Several farmers have approached the court against acquisition of their land for the ORR at Kandlakoya junction. As nearly 50 acres of land was caught up in litigation, HMDA could not complete the ORR works there and put in place a diversion between Patancheru and Shamirpet as a stopgap arrangement. But with the land losers submitting a representation to the government seeking a compromise and asking for allotment of alternative land, the chief secretary ordered a committee to be constituted.

The GO said the committee would determine the extent of land caught up in legal wrangles and negotiate with petitioners regarding their demands. It would also look into the earlier ORR package orders and assess the differentiating factors, if any, in respect of these parcels of land. The committee, which would take appropriate legal advice in this process, would submit its report to the state government for further action, the GO said.

Source: The Times of India, Hyderabad

New launches preferred over resale properties in Hyderabad

$
0
0
Home

Hyderabad

Hyderabad’s real estate market may have been less active for a while but it is still seeing several new project launches. Developers are still positive since across the city buyers prefer new launches over resale properties.

A research report by Cushman & Wakefield states that in the next three years the city would have almost 40,000 new residential units. Madhapur and Kukatpally in West Hyderabad would be the two main localities where these units would come up. Data with MagicBricks.com also indicates that approximately 70 per cent of the new residential launches are in West Hyderabad.

Corroborating the trend, Ganesh Pogul of Shreya Realty says, “Buyers usually prefer new launches for several reasons. First, resale properties are normally 25-30 per cent more expensive than new launches. Second, returns on investment are higher in new projects. Third, buyers prefer areas with less traffic congestion, pollution and more open areas. Since new projects are generally situated in suburban areas the demand for new projects is always high.”

Homebuyers look for properties which are accessible from the city and equipped with modern features. “In case of new launches, buyers get more options to choose from. Also, they can be sure of the quality which is being provided to them,” Pogul adds.

Neeraj Bansal, Director (Risk Consulting), KPMG India says, “Resale properties have the complexity of verifying the past ownership records, structural stability and potential for future returns. Also, a full down payment is needed for the same. New property on the other hand allows wider choice and flexibility of getting into construction linked plans.”

In addition, new projects being constructed in the city offer innovative features, facilities and specifications which are usually not available in resale properties or are not well maintained. Also, with the increasing cost of construction it is not possible to renovate an old property at the same price and therefore buyers are finding new projects as a good deal.

As a prospective homebuyer it is quite possible for you to get lured by the new projects in your town. In case of any dilemma, a thorough homework of the requirements and offerings may help you make the right choice.

Shradha Goyal, MagicBricks.com Bureau

Upto Rs 20 lakh investment options in South Hyderabad

$
0
0
investment-advice

Hyderabad

Supply of residential properties worth up to Rs 20 lakh has bumped up in South Hyderabad during the Apr-Jun 2013 quarter as compared to the previous quarter (Jan-mar 2013 quarter), revealed data with MagicBricks.com. This is good news for those looking to invest a sum of up to Rs 20 lakh in the Hyderabad property market.

Some of the locations that one can look for in this budget range are Shamshabad, Shadnagar, Sri Sailem Highway and along the Bangalore Highway. Most of the properties available within this price range are residential plots. “Real estate development in the southern part of the city is still in the nascent stages. Thus, plotted developments are mostly available while apartments are still developing,” informs C V Praveen, managing partner, PNR Constructions. The price range of these plots is as low as Rs 1,500-3,000 per sq yd, adds Praveen. There are plots by the HMDA (Hyderabad Metropolitan Development Authority), City Square Enterprises Pvt Ltd, Mahesh Villa Builders and Developers and Suvarnabhoomi Developers Pvt Ltd.

Availability of these properties has seen a gradual rise over the last six months. However, with low consumer sentiments, investors have maintained a cautious approach. As South Hyderabad largely has plotted developments, the realty market is, at present, largely investor driven. Subdued demand and easy availability keeps the prices at bay.

Thus for an investor, South Hyderabad has potential. “With several infrastructure projects such as the International Airport at Shamshabad, first phase of the ORR, third phase of the metro, several tech parks such as the Rajiv Nano Tech Park, Mucherla IT Park, TCS IT SEZ, Pharma SEZIT Parks etc lined up in the near future, prices are expected to go up. Hence, it would not be wrong to say that time is ripe to invest in South Hyderabad,” says Sairam, Green Homes. The property prices are expected to pick up pace in the next six months to one year, adds Sairam.

While the economic slowdown and the political instability in the city have slowed the real estate market in the city, investors may well consider this as a blessing in disguise. With the political situation in the city expected to stabilise soon, property prices may also firm up. Thus, investing now might just prove to be a good option!

Sruthi Kailas, MagicBricks.com Bureau

‘Best time to invest in Hyderabad’

$
0
0
praneeth group

Hyderabad

With the upcoming metro, ongoing infrastructural development and the low property values, this is the best time to invest in Hyderabad, says Narendra Kumar Kamaraju, MD, Praneeth Group. He shared insights on Hyderabad’s real estate market in an interview with Nikunj Joshi of Magicbricks.com Bureau.Here are the excerpts –

Is this the right time to buy property in Hyderabad?

Yes. Due to the recent uncertainty prevailing in the market, the property rates have gone down even in the midst of rising prices of construction materials. Also, this is the best time for builders as negotiation with the land owners to strike the best deal is possible. In fact, this is the best time to invest and acquire property in Hyderabad at an attractive price.

Which are main growth corridors in the city?

There are three main growth corridors in Hyderabad.

  • The area surrounding Outer Ring Road (ORR) about 20 to 25km between Kokapet, Gachibowli zone comprising Tellapur, Nallagandla and Adibatla. This corridor enjoys swift connectivity to the IT hubs and the International Airport.
  • Miyapur-Bachupally area for its upcoming Metro Terminal and the Intercity Bus Terminal. Many eminent education institutions are present in and around this area.
  • Ghatkesar is another area. Due to the recent declaration of ITIR zone, the area definitely holds potential for growth.

What is the current demand and supply scenario in Hyderabad? Is there an oversupply?

The real estate properties targeted for common man can be categorised as-independent villas, apartments and plots. Apartment units may be categorised into the situation of oversupply. But the situation is not the same for independent villas. There are very few builders available in Hyderabad who are catering to the needs of this segment.

Is it true that the demand has shifted towards larger homes?

It is not true to say that. There is demand for all budget segments. The homes which can satisfy the customer needs are always in demand.

How do you see Hyderabad’s real estate market five years from now?

The overall picture of the real estate market in Hyderabad is bright. With the population of Hyderabad touching one crore and rise in mid-income group, the housing requirements are growing each year. However, with the introduction of Regulatory Bill and the enforcement of the stringent rules by Hyderabad Metropolitan Development Authority and Greater Hyderabad Municipal Corporation only serious builders, who follow all statutory requirements and enforce the best project management principles in the construction, will sustain in the coming days.

Nikunj Joshi, an alumna of Asian College of Journalism, is a passionate Real Estate Journalist with a fetish for music, cinema, travelling and books.

Can’t afford Banjara Hills? Try Masab Tank

$
0
0
hyderabad-rental

Is living in Hyderabad’s posh area, Banjara Hills, a dream for you but you cannot afford a property there? How about staying just a notch away and getting a property within your budget? If your budget is as small as Rs 20-50 lakh, then Masab Tank, hardly three kilometers away from Banjara Hills, can make your dream come true. In spite of being in Central Hyderabad, the locality offers majority of properties within Rs 20-50 lakh. As per data with Magicbricks.com, almost four out of every ten homes in Masab Tank belong to this budget category.

Developed by Andhra Pradesh Housing Society during the 1970s, Masab Tank today is fully developed with no more land banks available for new constructions. The property values here are much lower priced than Banjara Hills, thus making the locality ideal for middle income homebuyers. While Banjara Hills offers properties in a budget of Rs 5,500-7500 per sq ft, the rate in Masab Tank starts at Rs 4,500 per sq ft and goes up to Rs 5,000 per sq ft.


View Larger Map

“In Masab Tank, one can find 2BHK units of 800-1000 sq ft within Rs 50 lakh. The property values differ in different colonies on the basis of their approvals from Hyderabad Municipal Development Corporation (HMDA). For instance, colonies such as Shantinagar, Vijaynagar and AC Guards command the highest prices in Masab Tank for all their properties being HMDA approved. Colonies which do not have approval from HMDA offer properties at half the values,” Chandra Shekhar of Maphar Constructions says.

“While multi-storey apartments form the major chunk of supply in Masab Tank,” Shekhar adds, “Several independent houses too are available here. The sizes of these apartments range from 1000-2500 sq ft. However, since the locality is an old development, most of these houses are occupied and there are very few options in resale.”

So, what else Masab Tank offers other than the properties priced much lower than Banjara Hills? Situated in central Hyderabad, the locality is outstandingly well connected to all the parts of the city via road and rail networks. “Masab Tank lies just at the junction of Road Number 1, Banjara Hills, which connects it to Humayun Nagar and Lakdi Ka Pul. The locality enjoys a good network of APSRTC buses connecting it to major parts of the city. The nearest MMTS station lies hardly four km away at Khairtabad,” informs Adam of Exclusive Properties.

Being the commercial centre along with a well-developed residential locality, Masab Tank gives all the reasons why a buyer should look for a property here.

Shradha Goyal, Magicbricks.com Bureau

Shradha Goyal has background in market research and is currently a part of the Content & Research team of Magicbricks.com.

Uppal land losers to get developed plots soon

$
0
0
hyderabad_builders

Hyderabad

Nearly six years after their land was acquired, affected property owners of Uppal Bhagat will get developed plots soon. TheHyderabad Metropolitan Development Authority(HMDA) has decided to allot plots on lottery basis in a couple of weeks.

Though the municipal administration and urban development (MA&UD) department had issued a GO on the package for affected property owners in January, 2011, the allotment got delayed as the authority was in a dilemma over distribution of developed plots to land losers.

The authority had acquired 733 acres from farmers of Uppal Bhagat for the Musi beautification project and metro rail project. While 104 acres have been allotted to Hyderabad metro rail, 150 acres were given to Hyderabad Metropolitan Water Supply and Sewerage Board (HMWS&SB) for constructing of sewage treatment plant (STP). Both the departments had agreed to pay Rs 25 lakh per acre for development of layout for the land allotted to the victims.

So far, 624 land owners have given consent and entered into an agreement with the HMDA to take developed plots. Some owners have not been listed for land compensation as there were issues like multiple claims over land or no claimants.

As per the agreement, the land losers would get 1,000 square yard developed plot for every acre of land that was acquired. The plots in the 413-acre layout have been divided into 150, 200, 300,500 and 1,000 sq yards for allotment to the land owners. However, the problem is some farmers had lost less than an acre like a few guntas. As a result, some are eligible for different sizes like 325, 615 square yards, which cannot be allotted in sizes of plots that were developed.

Then, the authority floated an option to the property owners either to buy additional land or sell it to the other plot owners adjacent to them. For instance, a land owner is eligible for 625 sq yards, he has to either sell or buy 25 sq yards as per the government market value.

Many property owners were willing to buy additional land due to the developed plot’s proximity to metro rail depot at Nagole. The HMDA wants to sort some issues during finalization of allotment.

Meanwhile, plot owners have come up with fresh demands like making developed plot area as multiple land use zone, setback relaxation for construction of buildings and also property tax waiver for certain period.

“HMDA will allot plots as per the GO issued by the MA&UD department. Exemption and other reliefs are under the purview of GHMC since the area falls under the municipal corporation. The property owners’ demands will be forwarded to the corporation,” HMDA land acquisition officer S Sangeetha Sathyanarayana told TOI.

Source: The Times of India, Hyderabad


Why investors prefer South Hyderabad

$
0
0
hyderabad-2

Hyderabad’s realty market is the honeypot for both the buyers and investors. Due to factors, such as rock-bottom values, robust social infrastructure and several IT hubs, the city of pearls has no room for speculative buying.

Since past three years, the issue of bifurcation of the State or the T-effect has kept the property values more or less stable. However, the values are expected to go up considerably once the Telangana issue is resolved. Thus, as the city is slated for several infrastructural upgrades, investment in the current scenario can fetch you healthy returns in the coming years.

So, are you finally ready to take that bold step in high heels and enter the market? If yes, then let Magicbricks.com be your guide.

Though, the entire city is characterised by affordable capital values, investors’ preference is inclined towards Southern parts of the city. About 38 per cent of the home buyers (i.e. about four out of every ten) prefer localities in the southern parts, revealed Magicbricks’ Housing Sentiment Index (HSI) report that analyses buyers’ behaviour every quarter of the year.

From multi-storey apartments to luxury villas to residential plots, South Hyderabad offers an array of housing options to the home buyers.

Residential plots

If you are vouching for plots, then Shad Nagar, Shamshabad, Shankarpalli and Rampally has a lot to offer. Demand for plots in these areas has also increased manifold. And why won’t it be! A plot of 1800 sq ft is available at just Rs 2-4 lakh.

Real estate development has not really caught up in these areas, thus property values are still realistic. Developers offering plotted developments include Suvarnabhuvi Developers, Building Block, Fortune Infra Developers, Sri Pavithraabhoomi Developers, among others.

Also, most of the plots in these areas are approved by Hyderabad Metropolitan Development Authority (HMDA). Explaining the advantage of investing in these plots, Sandip Patnaik, MD of Jones Lang LaSalle, Hyderabad says, “Clear title and development of the property is guaranteed. Also, loans are easily available for the purchase of HMDA-approved plots.”

Villas

While plots are the most preferred property type, owning a villa adds to one’s status symbol. Thus, if you too nurture the dream of enjoying a lifestyle in a villa, then this could be the end of your search and that too without burning a hole in your pocket. Kokapet, Shamshabad, Shaikpet and Kollur are the few areas that have several options.

Villas of 1500-4500 sq ft are available in the range of Rs 1-3 crore. There are several under-construction projects by developers such as Theme Ambience Constructions, Rajapushpa Properties, Prajay Engineers Syndicate and MAK Projects.

Multi-storey apartments

From an investment perspective, due to maximum availability of properties, Shamshabad, Shad Nagar, Rajendranagar and Nallakunta have evolved as potential options for multi-storey apartments.

As per Magicbricks.com, apartments of 1050-1200 sq ft are available in the range of Rs 2,000-2,300 per sq ft. Thus, a1050-sq-ft apartment is available at Rs 21 lakh. On an average, the wide range in these areas is between Rs 21-28 lakh.

Buoyed by the favourable factors, these areas are tickling the fancies of several developers. This has led to the launch of various projects in the area. These include SMR Builders Pvt Ltd, Theme Ambience Constructions, Aparna Constructions & Estates, Mak Construction, to name a few. Though there are several options ranging from 1-4BHK units, buyers’ preference is inclined towards 2BHK units.

As far as rentals are concerned, a 2BHK apartment is available at Rs 5,000-10,000 per month, while a 3BHK would command anywhere between Rs 10,000-15,000 and above per month depending upon the amenities offered.

Nikunj Joshi, Magicbricks.com Bureau

Nikunj Joshi, an alumna of Asian College of Journalism, is a passionate Real Estate Journalist with a fetish for music, cinema, travelling and books.

Viewing all 16 articles
Browse latest View live