If you are looking for real estate opportunities near Hyderabad, then there’s good news for you. As a part of the Smart Cities Mission launched in 2015, 6 cities have been finalized from Andhra and Telangana for the project. Out of the 6, 4 smart cities are confirmed to be ready by 2020 as per the Union Minister of State for Housing and Urban Affairs.
A Smart City is a lucrative option for both commercial and residential real estate growth because the concept of the city implies better infrastructure, efficient transport facilities, sustainable environment management, E-governance and improved standard of living.
Being the largest city in Andhra, this coastal city is already one of the chief ports of the country. Apart from the port-based trade, the city is also known for its industrial commerce with the presence of Bharat Heavy Plates & Vessels Ltd. (BHPV), Hindustan Petroleum Corporation Ltd. (HPCL), Vizag Steel, etc. Now, this city that homes the National Institute of Oceanography and IIM (Vizag), is all set to become a Smart City by 2020. A total of 47 projects worth Rs. 1777.29 crore have been allotted for this purpose.
Known for its onshore facility of ONGC and thermal plants, Kakinada already boasts of 35 BPO and IT companies. Apart from being a major producer of fertilizers and exporter of seafood, the city also has a Petroleum, Chemical & Petrochemical Investment Region (PCPIR). No wonder this ‘pensioner’s paradise’ has been allotted a budget of Rs. 1986.08 crore to make it a Smart City with the completion of 71 projects.
Being the Spiritual Capital of Andhra, Tirupati attracts about 18 million tourists per year, thanks to the very famous Tirumala Venkateshwara Temple. To achieve the Smart City status, Tirupati has been assigned 39 projects with a budget of Rs. 1610.98 crore.
Warangal is the second largest city in Telangana, the first being Hyderabad. Situated just a few kilometres away from the capital city, the Warangal municipality got the status of Greater Warangal in 2014. Adding to its legacy of possessing the 1000 Pillar Temple and the Kakatiya University, Warangal is bound to be a Smart City by 2020. This will be achieved with the accomplishment of 53 projects worth Rs. 3439.86 crores.
Amaravati (Andhra) and Karimnagar (Telangana) are the other 2 cities that have been proposed for the Smart City Mission. Since they are still in the planning stage, the projects and funds are yet to be decided. While you may have to wait till 2020 to experience the Smart City living in these cities, to get the best of real estate deals in Hyderabad right now, visit Aparna Constructions.