The government move to replace HUDA with Hyderabad Metropolitan Development Authority (HMDA)

The government move to replace HUDA with Hyderabad Metropolitan Development Authority (HMDA) by increasing the area under its jurisdiction to 6,852 sq km with the merger of parts of five adjoining districts will further boost the growth.

Hyderabad's expansion is not just confined to western suburbs like HITEC City, Madhapur and Gachibowli, which saw tremendous activity over the last one decade,areas near the upcoming international airport, Fab City, Hardware Park and those on Warangal and Vijayawada highways are also turning into hotspots.

Riding on the wave of increasing demand for office/retail space, real estate developers and investors are increasingly seeking opportunities to extend their goodwill and existing relationships with key tenants across India. Being an industry where local practices, laws and dynamics are the route to success, these developers are increasingly partnering with local governments for development of local infrastructure, be it in the form of IT parks or residential townships or SEZs.

C Shekar Reddy, president, builders forum and promoter of CSR Real Estates, Hyderabad, affirms the obvious trend: that except for a few players, the majority of real estate people are small potatoes and as yet, simply cannot handle the rules and regulations of other states, inevitable when taking up big commercial projects.

Also, local builders find it difficult to enter other states due to their lack of brand equity and that all-important market perception called "goodwill" across India, earned in their respective state over a period of time, he observes.

Within Hyderabad , the local players are having a field day cashing on the real estate boom with apartments and townships emerging in every nook and corner of the city. Singapore city is one such venture nestled in the far-flung Ghatkesar route on the warangal highway. The newly laid four lane road leads you to this fast emerging self contained city where residents have started taking possession of their dream homes. The urge to escape from the hustle and bustle of the city life has prompted many localities and residents of other cities to relocate here. The drive in the countryside atmosphere is laced with mushrooming petrol pumps, real estate ventures and hectic construction activity that indicate the rapid development on this highway.

"It is the place to invest as the rates are still affordable by commoners. The advantages are that the city is near when compared to other stretches and it is supported by excellent transport facilities," Mr. Kamalakar points out.

The prices start from Rs. 8,000 to Rs. 7,000 per square yard on the main road at Medipally and gradually decrease as one moves ahead. At Ghatkesar, the same piece on the main road is available at Rs. 2,500 per sq yard. However, if one is willing to look at places half a km from the main road, pieces of land are available at Rs. 700 per sq yard.

Development on this route is visible all over with many ventures coming up rapidly in the areas nearby Singapore City.

There are two reasons for investing here. Prices are still affordable and are likely to shoot up given the road expansion work going on as part of the Prime Minister's Golden Quadrangular Road Project. The road has been developed till Singapore City. Assured of green space given the reserved forest area between Medipally and Nampally, the stretch is turning out to be preferred destination for employees.