KCR’s Airport Comments: Realtors Cashing In On?

Real boom sprung up in North Hyderabad following CM KCR’s comments on a possible airport near Shamirpet.

Recently, CM KCR stated that the airport is likely to come up in Shameerpet if another airport is needed in future to meet the high demands. These comments have boosted the real prospects in North Hyderabad. The land rates around Shamirpet and Siddipet have spiked up. As West Hyderabad – IT Hub – seems to have reached a saturation point, KCR’s comments resulted in a boost for realtors around North Hyderabad.

New IT towers near Siddipet and KCR’s comments indicated that the demand for the residential as well as commercial projects in and around Shamirpet and Siddipet will be high in the coming days.

With the construction of irrigation projects like Kondapochamma, Ranganayak Sagar and Mallanna Sagar and the new IT towers and a possible airport has spiked the land rates.

The stretch between Shamirpet and Siddipet is considered to be a hot destination for realtors now. The demand for the lands around Genome Valley have increased drastically.

Meanwhile, as per the town planning, the area available is limited in the region and it is mainly for residential development. Due to the zoning regulations in place, the commercial development looks restricted.

However, many opine that the development around the existing International Airport in Shamshabad itself is yet to take off. Many people, who had bought at peak rates earlier during the announcement of International Airport at Shamshabad, have been either locked at high prices or ended up selling in loss. The connectivity of the Metro to Shamshabad is a big hope in the area as big builders are now eyeing at Shamshabad.

For now, realtors in Shamirpet are trying to cash in on CM KCR’s comments.