‘LOOK EAST’ SAYS HYDERABAD AND THE INVESTORS ARE NOW FLOCKING!
For decades, we have seen the Western Hyderabad grab the limelight with consistent, if not exponential development in terms of IT, Infra Structure, Commercial and Residential sectors. It has reached such a point of saturation that there is a high need to control and balance that unbridled growth.
Enter LEAP – Look East Policy!
The much-awaited undertaking by the government primarily focuses on converting the Eastern Part of Hyderabad into an IT hub and thereby releasing the undue pressure that is growing in the opposite direction. But that’s not all there is to it. In addition to the expansion of IT in this quadrant, the government is working in parallel to develop the infrastructure in this region and integrate world class facilities to attract global players and reputed firms to invest here.
Here are some effective initiatives taken by the government that ensures growth dispersion driven by the progress of East Hyderabad in parallel with the IT development.
IMPETUS WITH INFRASTRUCTURE AND CONNECTIVITY
Seamless connectivity is always a crucial factor in the urban infrastructure development. The government with the Strategic Road Development Programme (SRDP) has provided a brilliant impetus to the LEAP. With well-connected suburbs and decongested traffic, the mobility to and from the city towards the Eastern side has completely been revamped. In addition to that, the Hyderabad Metro Rail further proves to be a great commuting option.
THE “GRID” POLICY
In a bid to push the growth of IT across all corners of the city, the GRID policy or the Growth In Dispersion policy initiated by the government has particularly turned out to be a boon for small and medium enterprises. With the support from the government, a number of entrepreneurs in addition to global players in the market are coming forward to establish their businesses in the Eastern region of Hyderabad. Over the next few years, as many as 100
acres will be dedicated to new IT parks which will create almost 1 lakh job opportunities outside the saturated western quadrant.
THE REALTY BOOST!
It is just a start but the LEAP has proved to be vital in giving the realty sector in Hyderabad a great boost post covid-19 pandemic. As Hyderabad continues to be a promising destination for investments from around the globe, the latest Knight Frank survey has indicated great things for those who invest in Real Estate around Hyderabad now. Here are some key insights from the survey.
• 80% of Hyderabad locals believe that their residence value will increase up to 19% in the next year
• 55% say that they are willing to purchase a 2nd home in the next year!
• 12% show great interest in purchasing a Holiday Home!
• And a whopping 97% show inclination towards purchasing properties in large green spaces!
As the numbers speak for themselves, this particular focus on the Eastern quadrant’s development by the TS Government had a huge positive impact on the realty sector, especially in the last few months.
And, with the inception of industrial parks such as Pharma City as well as IT hubs in key locations across the west, there is now a growing demand of properties and open plots in the surrounding regions. It is not an exaggeration to say that investors are flocking to put their money where it proves lucrative, whether it is for owning a dream house or to reap great returns!