In order to add feathers to the infrastructure of the Hyderabad City, the central government last years has given their in-principle nod for the development of Regional Ring Road (RRR) catering to the main city as well as suburbs. The 338-km long Ring Road will be constructed at an estimated cost of Rs 11,000 crores. As per the government officials, the project will not enhance connectivity to the suburban areas but will also boost the realty market of these areas.
About Regional Ring Road Project
The Regional Ring Road Project is divided into 4 quadrants that will cross various National Highways:
- First is North East Quadrant that will pass through Toopran (NH-44)-Malkapur (NH-65)
- Second is South East Quadrant that will pass through Malkapur-Shadnagar (NH-44)
- Third is North West Quadrant that will pass through Koulampet (NH-65) to Toopran
- Fourth is South West Quadrant that will pass through Shadnagar-Koulampet
NHAI will be taking over the whole project. It is said that the RRR Corridor will pass through 125 villages and 5 forest reserve areas.
Impact on Connectivity and Real Estate Market
A said above, the corridor will pass through some of the backward areas of the city suburbs like Sangareddy, Jagadevpur, Shadnagar, Pamena, Malkapur, Bhuvanagiri, Choutuppal, Ibrahimpatnam, Kandi, etc. With better connectivity to these areas, it’s obvious that the impact on the realty market will be positive. Not only companies, and industries, these areas will also attract leading realty players of the city to develop housing project in these areas. Adding to this, the land rates will also take a steep jump. At the same time, development of office spaces and industrial units will further boost employment, business, education, health and entertainment facilities in these areas.
Not only the property prices the rental demand in areas like Shankarpally, Tellapur, and Patancheru will also increase as they will see attraction from many professionals and industry workers.