As a significant boost to the infrastructure development of the city, the Centre, in December last year, gave an in-principal approval to construct a Regional Ring Road (RRR) around the city of Hyderabad. Covering a total span of 338 km, the said ring road is likely to increase the demand for real estate in Hyderabad and the surrounding districts. Here are some essential details about the said project and its impact on real estate.
Approved at an estimated cost of Rs 11,000 crore, RRR is aimed at connecting the important areas outside the existing Outer Ring Road (ORR). The project has been conceptualised to strengthen the existing roads connecting the major National Highways passing through the State, thereby easing regional road connectivity.
Quick details about the Regional Ring Road
The RRR corridor is divided into four quadrants with respect to the crossing point of the National Highways. These are -
- North East Quadrant- Toopran (NH-44)-Malkapur (NH-65)
- South East Quadrant- Malkapur-Shadnagar (NH-44)
- North West Quadrant-Koulampet (NH-65) to Toopran
- South West Quadrant- Shadnagar-Koulampet
In total, the RRR is likely to pass through 125 villages 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 work on the said project will be taken up by the National Highways Authority of India (NHAI).
Impact of the RRR Project
The road will pass through areas such as Sangareddy, Narsapur, Gajwel, Jagadevpur, Bhuvanagiri, Choutuppal, Ibrahimpatnam, Chevella, Shankarpalli, Yacharam, Kadthal, Shadnagar, Pamena, Malkapur, Bhongir, Toopran, and Kandi. Consequently, it will act as a catalyst for the growth of trade and business in these backward regions. Additionally, it will also help connect major highways such as NH 65, NH 44, NH 163, and NH 765. Once operational, the new ring road will facilitate the residents on the outskirts of the city who now have to travel to the city to reach the highways.
Post completion, the project is likely to draw the attention of several companies and industries including warehousing and logistics, towards the region between ORR and RRR. By connecting the neighbouring major towns with Hyderabad, RRR will further enhance the interdependence between the city and the areas around it. Other than giving a thrust to the development of residential and commercial pockets in the areas as mentioned here above, RRR will provide access to employment, trade and commerce, education, health, sports, and entertainment facilities.
According to K Hari Krishna, Owner, KHVSN Real Estates, Hyderabad, “Hyderabad, at present, is witnessing a boom unlike most of the other major cities of the country. The development of the Regional Ring Road in Hyderabad will further facilitate the inhabitants to easily navigate in and out of the city limits. With enhanced connectivity, real estate in the city and its suburbs is expected to gain momentum in the times to come. Consequently, areas such as Ibrahimpatnam and Shankarpally along with the localities along the Vijayawada and the Warangal Highway are expected to garner increased traction from the homebuyers. The property prices in all the connected localities are likely to escalate by 10-20 percent post the completion of the regional ring road project.”
Sharing the impact on the rental market in selected localities of Hyderabad, J Prashant, Marketing Manager, Anuhar Homes, Hyderabad, says, “Shankarpally houses several industries in its vicinity. At present, it takes a lot of time to travel from Hyderabad to Shankarpally which is nestled on the outskirts of the city. The development of the ring road will not only ease connectivity but will also increase the demand for rental accommodations in areas such as Tellapur, Patancheru, and Gachibowli. These areas are likely to witness increased attention from the professionals working in Shankarpally, but looking for a place to stay in Hyderabad.”
Fast paced infrastructural developments, presence of multinational companies, affordable property rates as compared to the metros, and proactive measures from the government have not only made Hyderabad a global city but have also propelled the demand for real estate in the city. In such a scenario, the Ring Road project will further help fuel economic growth and boost real estate across the city and its suburbs.
Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. 99acres does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.