Hyderabad has only one IT corridor in the western part of the city, which leads to congestion and one-dimensional development of the city. To encourage the city’s development, incentives have to be given to developers and corporate clients to invest in alternative IT corridors such as Uppal and Shamshabad, as per recommendations in the the report titled, “Hyderabad — A global city in the making”, by the Confederation of Indian Industry (CII) and JLL, a firm specialising in real estate.
The report was released at the day-long conference on ‘Rise Infrastructure Hyderabad- Enhancing Liveability’ organised by CII Telangana on Wednesday.
The report details the impact of key infrastructure projects such as Outer Ring Road and Metro Rail on the real estate sector, percentage by which prices of real estate have increased, recommendations to improve liveability in the city, and other aspects.
The report further recommends that “infrastructure developments such as public transport and road network need to improve further in the suburban locations of the city. Improvement in the transport and water supply facilities at locations like ECIL, Ghatkesar, Kompally and Adibhatla will improve the existing living conditions and also further boost real estate development”.
It also emphasises importance of creating recreational spaces such as parks, play grounds, in congested locations of the city, diversification of economic base and development of new economic hubs.
Detailing the impact of Metro Rail Phase-I, the report states that right from the announcement of the rail project to its commencement, locations within 2-km radius of metro rail stations witnessed tremendous increase in residential projects.
“The capital values in Hyderabad increased by 27% to 30% post commencement of construction of this mega project. But Uppal and LB Nagar outpaced overall city recording 60% to 65% and 45% to 50% growth respectively,” the report states.