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ORR Boost to Hyderabad Real Estate
by
George Gonigal
The 159-km Outer Ring Road (ORR) project has come up as a major growth driver for the real estate markets of Hyderabad.
As witnessed across the country, the state of road infrastructure has been a major determinant of property values, and an upgrade in the system at a city translates into a decent appreciation in property values of affected areas. Definitely, the same holds true with Hyderabad properties as well.
Meanwhile, with its ORR project, the Hyderabad Urban Development Authority (HUDA) is set to decongest the traffic-pressure steaming on the existing major arterial roads of Hyderabad. Notably, the city has a huge number of 1.8 million personal vehicles running on its streets everyday, and about 2-lakh new vehicles are added in the kitty, each year.
Development of an ORR would certainly help systematizing the traffic system of the city, and thus the commutation time within Hyderabad will be tremendously reduced.
Real estate consultants in Hyderabad maintain that property prices in and around the project sites like Shamshabad, Kothur and Mansanpally would go up gradually with the progress in the construction of the project. Areas such as Sagar and Vijayawada Highway are also expected to get some push after the second phase ORR work would be initiated.
The project, scheduled to complete in September 2008, has brought major development in the real estate sector of Hyderabad. The developers have taken a cue from the project, planned in 2004, well enough and now the city boasts of a bouquet of corporate campuses, integrated townships, row houses, exclusive office and retail space around the project sites. As a matter of fact, the countryside areas that the ORR touches are now being viewed as hot property.
Besides, the HUDA plans to link the inter-state highways and roads with the ORR, as well; yet another positive indicator for hyderabad real estate.
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ORR Boost to Hyderabad Real Estate
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