Hyderabad has seen a lot of progress in the realty sector in recent times. Improvement in infrastructure and connectivity has played a major role in rejuvenating Hyderabad’s real estate market. As a significant boost to the infrastructural development of the city as well as the rural areas, the Union Government has recently approved the construction of the Regional Ring Road. This new Regional Ring Road spans 340 km and is expected to increase the demand for Hyderabad real estate.
The Regional Ring Road aims to connect the important areas outside the Outer Ring Road. This project has majorly been conceptualized to strengthen the existing roads that connect National Highways passing through the state, thereby increasing the connectivity.
The Regional Ring Road is divided into 4 quadrants, they are:
This massive project is expected to pass through 125 villages in total along the alignment. Additionally, it will pass through the existing roads on five reserve forest areas which include Mulugu, Muduchintalapally, Kothiyal, Kappa Pahad, and Narsapur.
The government on the other hand has also made a three-step plan to improve the city and the surrounding villages through this project.
Firstly, they will build satellite cities. These satellite cities are small cities that are well connected to the major cities and have self-sustaining ecosystems. Generally, these small cities are relatively close to the major city as they are highly dependent on the city.
Secondly, this plan connects cities through Regional Ring Road. As satellite cities are relatively close to the main city, with RRR, the Government aims to connect the far away towns with high-speed transportation channels. Due to this development, a huge area of the state will be benefitted and will result in the development of the cities.
Lastly, the Government aims at developing the under-served areas. In addition to developing the satellite cities, this plan will also help with the development of under-served districts that fall under the Regional Ring Road Plan.
Furthermore, this plan will also benefit the infrastructure of the city and equally benefit the people by creating numerous employment opportunities as the demand for skilled and unskilled labour will increase.
Hyderabad is currently experiencing a boom in the real estate industry unlike any other metropolitan city in the country. The availability of land at an affordable rate leads to the expansion of infrastructure projects, foreign investments and a young cosmopolitan population, thereby, contributing to the development of Hyderabad’s real estate sector. The approval of the regional ring road plan will now add great value to the realty sector and the potential for more growth is immense.