The sheer magnitude of the project criss-crossing through different areas of the city has started to brighten up the property prices en route, says T. Lalith Singh
Only the piers are showing up across the three routes where the city’s most prestigious public transport system, the elevated metro rail is being built.
Yet, the real estate buzz has already begun. The sheer magnitude of the project and criss-crossing through different areas of the city for 72 kms has started to brighten up the property prices en route.
It is not mere connectivity to a fast, efficient and safe service which is heightening the expectation. The Hyderabad Metro Rail (HMR) project is also expected to rejuvenate and inspire the real estate with new ideas.
“Metro Rail is going to change the scenario drastically,” declares HMR Managing Director N.V.S. Reddy.
Not only the hitherto neglected eastern part, the project is also poised to give a new direction to parts like Uppal, LB Nagar and Miyapur too.
The rapid growth witnessed at the Hi-Tec City and its environs are also likely to be consolidated. “Many new areas along the corridor will also become active,” points out Mr. Reddy.
If the city has developed around Musi to begin with and gradually shifted towards the two national highways (nine & seven), the Transit Oriented Development (TOD) is expected to be ushered in alongside the routes and final destinations.
As it starts taking a shape, the project is expected to see old structures along its route giving way to new high rises and the present density, which is haphazard, getting streamlined.
More so, because for upto 300 metres mixed land use is being allowed.
All the colonies around the proposed 66 stations will get linked with buses with a plan to move a bus every few minutes reaching the station. “We are looking at a sort of merry-go-round concept to ensure buses go around the colonies on the either sides of the corridor,” he says.
The land pooling concept could really work out at the stations to be linked with a criss-cross of skywalks so that more areas and important public buildings can be inter-linked.
These include residential complexes, malls and others.
The HMR has huge chunks of land at 25 stations other than the two depots and these spaces are proposed to be converted into beehive of activities by hosting mega malls, multiplexes, office and commercial spaces, eateries and entertainment centres.
“We wish to have these as ‘A’ to ‘Z’ shops that cater to all requirements of a family. We are sure the road trips can be reduced considerably once the service becomes operational,” Mr. Reddy adds.