Latest Real Estate News on 'Hyderabad'

Greater Hyderabad Municipal Corporation plans road to please realtors

Comments Off on Greater Hyderabad Municipal Corporation plans road to please realtors   |  September 21, 2013

HYDERABAD: Bowing to the pressure from builders and land owners, Greater Hyderabad Municipal Corporation (GHMC) officials are said to be actively considering construction of a link road from Navayuga SEZ, opposite the West Zone of GHMC, to Chandanagar railway station in Serilingampally, at an estimated cost of Rs 17.10 crore.

Though there are several other roads which are in want of urgent repairs, the authorities are leaning towards taking this up the link road work on a priority basis and have already placed a proposal before the standing committee for approval.

Normally, development of link roads is taken up to decongest thoroughfares and also reduce the distance between two destinations. Before taking up construction of any road, the traffic volume on the existing road and link road are taken into consideration. But the civic officials seen to have ignored these vital things before proposing the link road.

Sources said the proposed 2.3-km link road from GHMC office to Chandanagar does not serve any immediate purpose to commuters as the road ends abruptly at the railway station there.

The Mumbai highway and colonies of any reckoning are on the other side of the railway station. To connect the proposed road to the highway and residential colonies, a rail over bridge (ROB) across the tracks is required besides huge funds and approval from the South Central Railway. Secondly, the traffic volume on the University of Hyderabad (UOH) is not much to worry about calling for any decongestion measures. Moreover, the officials are not sure about the traffic that would use the proposed road to reach Chandanagar railway station. Interestingly, the GHMC officials, defying logic, have proposed a 150 ft (four lane) wide road by acquiring the land from private property owners. Many wonder who on earth need such a road at a place like that while arterial roads like SP Road, Kukatpally and Punjagutta are just about 150 ft wide.

There are allegations that the road is being proposed to benefit some realtors and property owners to increase their land values and also to construct big malls, multiplexes and hotels in near future.

GHMC authorities blame each other for the proposed link road. While the engineering wing (projects) officials say the proposal was moved by the town planning wing, the latter points fingers at the former. “The link road has been proposed keeping in view future needs and traffic volume though there is not enough traffic on the road as of now,” GHMC zonal commissioner (West Zone) Aleem Basha.

Meanwhile this is not first time the GHMC faced similar criticism in developing roads and even the authorities are facing vigilance and enforcement (V&E) inquiry.

The V&E department is probing into the road formed from north side of National Academy of Construciton (NAC) campus to rail under bridge connecting Kukatpally as part of COP 11 works. The wasteful expenditure was stopped in the midway after media criticism though about Rs 70 lakh was squandered on the fancy project.

Similarly, there was a hue and cry over the development of road abutting Annapurna studios at a cost of Rs 7.2 crore.

The road connects Krishnanagar junction via the film studio from Road No 2, Banjara Hills, by widening the road. The standing committee and the Municipal Administration and Urban Development (MA&UD) department cleared the road a few months ago.

Hyderabad’s realty sector set for recovery

Comments Off on Hyderabad’s realty sector set for recovery   |  September 16, 2013

HYDERABAD: The spiraling rate of the dollar coupled with modest pricing is likely to attract NRI investment to the city’s real estate sector in the near future, said representatives from the industry on Thursday.

In an attempt to allay fears of consumers, members of the Confederation of Real Estate Developers Association of India (CREDAI-AP Chapter), insisted that the market condition had improved post 2012 and is currently on the path to a steady recovery.

“It is true that whenever there has been an unrest owing to the Telangana issue, the industry has slipped into a state of turmoil for a about two to three weeks. But that dip in business has always been temporary. Now that we have a clear picture about the fate of the state in general and the city in particular, things are only likely to look up,” said C Sekhar Reddy, national president of the organization.

Reddy claimed that in the last six months, the sector had already started its transition from being a buyer’s market to a seller’s market. “There are projects that have been launched at a higher price (of over Rs 3,000 per sft) than the earlier prevalent rate of Rs 2,500 (average) in the last few weeks,” he added.

However, despite this marginal jump, developers said that property values in the city are still at “rock bottom” (in comparison to other metros in India) and therefore more affordable for consumers. Given Hyderabad’s “world-class” infrastructure and other amenities, they said that the local market was the best investment destination at present. “The average price is between Rs 1,700 per sft (only in the outskirts) and Rs 2,500-Rs 3,000 per sft. Clearly, buying property here now would be a wise decision,” said S Ram Reddy, the newly appointed president of CREDAI-AP.

Chalking out a two-year roadmap for the confederation that comprises 1,300 members from across the state, its office bearers said that the body would work towards initiating the process of procuring online building permissions, reducing cost of construction through bulk material purchases, enhancing the pool of skilled labourers and compiling data on the availability of built-up space in the city.

Reiterating that the slump in the market, post 2008, was not solely rooted in the local political crisis but the global recession as well, members said that the aforementioned issues have, by and large, faded out and that the real estate prices in Hyderabad are now set for a northward ride.

Integrated building approvals to check graft

Comments Off on Integrated building approvals to check graft   |  September 12, 2013

HYDERABAD: In a bid to bring in transparency, avoid delays and check corruption, the Greater Hyderabad Municipal Corporation (GHMC) has decided to integrate online building approvals with occupancy certificates and property tax assessment.

An experimental study of accepting online applications was started a couple of days ago by the GHMC’s town planning wing. Full-fledged implementation of online clearance would begin in a month as the municipal administration and urban development (MA&UD) department is expected to issue the relevant GO in the next couple of weeks for the initiative.

GHMC officials said once the online application and approval system for building application starts, building permissions would be cleared in 15 days at circle and zonal-level (for buildings up to ground and four floors) and high-rise applications would be cleared in 30 days at the head office-level.

The corporation would use AutoDCR software to scrutinize and approve building permissions. Several municipal corporations like Pune, Chennai, Coimbatore, Thiruvananthapuram, Nagpur and other cities have been using the same software for clearing building applications. The software has been customized to suit building rules in Andhra Pradesh.

Once building drawings and maps are uploaded for approval, the software reads and identifies CAD drawings and maps automatically. It then tells whether they are as per the building rules or not. If the building plan is not according to the rules, it rejects the plan and cites the reasons for denial. The software also generates FSI tables, fee, area statement table and other required data for ready reference.

Sources said there are chances of omissions during manual scrutiny, but the software scrutinizes them without any error and it would also put an end to corrupt practices. After the building plans are approved, emails and SMSs are sent to the applicants automatically.

“Section officers of town planning wing are being provided special mobile phones loaded with the software. Nearly 100 mobiles have been procured .The town planning staff visit the proposed spots for construction and take images of the sites at different stages of construction. These images are uploaded through the mobile phones by attaching them to the respective building files,” GHMC additional commissioner (Planning and Projects) Ronald Rose told STOI.

The additional commissioner said the GHMC has also decided to integrate online permissions for occupancy certificate (OC) after the building is completed with the software. The software will automatically check the latest images and point out whether there were any violations or deviations in the building. Once the OC is issued, the property tax will be assessed for the building.

The GHMC gives building permissions for about 10,000 buildings every year. The town planning staff has been taking several months for giving approvals to non-high rise buildings. For high-rise permissions, the approvals take even six months. “If there is any lapse on the part of the town planning staff, they will be penalized for any delay in approving building plans,” the official said.

Case against three tehsildars

Comments Off on Case against three tehsildars   |  August 18, 2013

HYDERABAD: The Hyderabad district administration on Saturday filed a criminal complaint at the Tappachabutra police station alleging that three tehsildars had carried out mutation of 12-acre land illegally in the name of private persons. DCP (West Zone) V Satyanarayana confirmed with STOI that complaint was received and they were in the process of registering case against the accused. “As per the complaint, the three tehsildars, who had earlier worked there, gave mutation to a few persons belonging to Bhavani Nagar by going against the Town Planning rules,” the DCP said. Of the three officers, two were retired.

During an internal inquiry conducted by CCLA officials, it was found that the three officials, with ulterior motives, went against rules and were accused of cheating, forgery and conspiracy.

Commercial space rates shoot up in Vijayawada

Comments Off on Commercial space rates shoot up in Vijayawada   |  August 15, 2013

HYDERABAD: Around 270 km east of Hyderabad, the city of Vijayawada on Wednesday witnessed an immediate ripple effect of Congress’ ‘Jai Telangana’ call. Owners of commercial spaces in the ‘land of victory’ were found quoting as much as Rs 50 per square feet (sft) for properties which, until a few days ago, were up for grabs at a meagreRs 15 per sft. Reason? The intense speculation about the city emerging as the largest business hub, if not capital, of the new Andhra Pradesh state.

Residential projects, which are currently hovering around Rs 4,500-Rs 5,000 per sft, are also likely to increase in the next few weeks, market insiders said. The expectation, they said, was rooted in the hope that corporate houses with operations only in Hyderabad would now look at suitable destinations in AP as well to expand their network.

“Considering that Vijayawada is centrally located and can provide infrastructural support to such projects, it only makes sense for them to set shop here,” said Rajling Gadde, chairman of Greater Vijayawada Builders’ Association. He even argued that the city, by virtue of its geographical location, was sure to edge out other contenders like Visakhapatnam, Ongole and Tirupati in the race for the capital city status.

Developers across the Andhra region agree that the Vijayawada-Guntur belt has the potential to grow as the next ‘hot’ real estate destination after Hyderabad

. This, as the area is not only well-connected to other areas but also has a thick presence of educational institutions, three major power stations and expansive automobile and tobacco manufacturing units. “We had anyway withdrawn our operations from Hyderabad over the last six months owing to a severe slump in the local market. Now we are gearing up to focus on the Vijayawada-Guntur stretch along with sites in and around Vizag,” said P Venkata Ramana, proprietor of Vizag-based PVR Builders.

Meanwhile, even as Vijayawada seems to be leading the race, market analysts in Hyderabad feel that the final results will be out only when divided AP formally decides on a capital city. “It is true that the new capital will see real estate players trooping in large numbers. But if that’s going to be Vijayawada or not will be known only after an official decision on the issue,” said city realtor D Sreedhar Reddy., adding: “I personally would put my money on Vizag as it has the advantage of a port and a thriving industrial setup.” Reddy, however, agreed that the city may lose out to its fellow ‘contestants’ because of its disadvantageous location.

Inform Lanco Hills buyers of land dispute with Wakf Board: SC

Comments Off on Inform Lanco Hills buyers of land dispute with Wakf Board: SC   |  August 11, 2013

HYDERABAD: A Supreme Court bench comprising R M Justice Lodha and Justice Madan B Lokur on Friday said that buyers of property at Lanco Hills Technological Park project in Manikonda should be clearly informed that their transactions would be subject to the final ruling of the apex court in the ongoing land dispute between the Andhra Pradesh State Wakf Board (APSWB) and the AP government and several firms that were given land by the state government.

According to Wakf Board officials, the Supreme Court said this while hearing arguments in the Dargah Hazrath Hussain Shah Wali wakf land case, wherein the board had filed an application urging the apex court to vacate the earlier SC order allowing Lanco Hills and others firms to continue with their business deals on the disputed land.

Terming the latest SC order as favourable for Lanco as it puts no restrictions on the company to construct, sell, transfer or lease out properties in the Lanco Hills project, Pochendar Shenigarapu, CEO, Lanco Hills said: “We are absolutely elated as the order in no way hampers our project, which we are going ahead with full speed. The Supreme Court refused to interfere with the earlier order passed by it that permitted Lanco Hills to alienate, transfer and sell the properties in the project.”

The Wakf Board and the dargah managing committee are pitted against the state government, the AP Industrial Infrastructure Development Corporation and a host of players like Emaar, Microsoft, Infosys, Wipro and Polaris as well as Lanco Hills that were given 1,654 acres of land in Manikonda village near Gachibowli by the state government.

Though last year the AP High Court had declared that the Manikonda land was wakf property endowed to the dargah, the apex court stayed the HC judgment after it was challenged by Lanco Hills and others.

On Friday, the SC bench observed that the undertaking given by the state government that it would provide land in lieu of Manikonda Jagir to the Wakf Board in case it loses the case was not accepted but only recorded.

The court also asked the AP government if it had identified any land free of encumbrance and equal in value to the Manikonda land for immediate allotment to the Wakf Board if the board succeeded in the matter and if not, could it pay immediately the entire value of the land that the court would award. The government lawyer said he was not in a position to give any undertaking in that matter. The court said that in such case the rights of the parties ought to be protected and wondered whether the status quo should not have been preserved.

Wakf Board chairman Syed Ghulam Afzal Biyabani said the board was hopeful that the entire land would be returned to the board soon. Dargah committee president Afzal Mahdi echoed the feelings.

15% of heritage buildings in Hyderabad on the verge of collapse

Comments Off on 15% of heritage buildings in Hyderabad on the verge of collapse   |  July 25, 2013

HYDERABAD: Around 15 per cent of the nearly 140 heritage buildings in Hyderabad and its outskirts are in a dilapidated condition and require immediate intervention of the authorities lest they collapse, heritage conservationists warned on Thursday.

Activists said that much like the City Light Hotel which collapsed on account of unchecked structure strength, at least 15 buildings require partial demolition so that they do not take the entire structure down. One such building is the Irum Manzil built by Fakhrul Mulk, a noble in the Nizam’s court, which now houses the office of the roads and buildings department.

“Portions of the building could collapse anytime. Even the R&B staff isn’t using them. A proposal for restoration and renovation at an estimated cost of around Rs 12 crore was sent to the government around nine months ago, but we are yet to receive a reply,” said conservation architect A Suryanarayana Murthy.

He also said that around 10 per cent of the famed Moazzam Jahi Market (MJM) structure needed restoration. “The rear portion of MJM, which houses meat and fish shops, could collapse. Such problems could have been avoided had the authorities taken minor maintenance works such as removing debris on rooftops and clearing water spouts,” Murthy added.

Another conservationist, who requested anonymity, said the Old Jail Complex in Monda Market had given away and the rest could follow suit as a result of apathy. “There was a proposal for conditional mapping of the rear portion at an estimated cost of Rs 2.5 crore, but the files are gathering dust with the government,” the source said.

Both Murthy and Sajjad Shahid, another heritage conservationist, pointed out that few were aware of the fact that the high court had issued orders to include G Block of the secretariat complex in the list of heritage structures. “The order, issued around two years ago, was for both inclusion and renovation, but this has been ignored by the government. They are waiting for it to collapse,” Shahid said.

Activists pointed out that among the many such poorly maintained hallmarks of heritage, Akram Ali Deodhi, Khusro Manzil, Khurshid Jah Deodi, Nampally and Aliabad Serais require immediate work. “The monumental neglect of the Akram Ali Deodhi in Tappachabutra could prove fatal as the cantilever floor projections of the building could collapse anytime. It has become a passage for the public, making it all the more dangerous. Heritage Conservation Committee (HCC) had recommended the immediate removal of these structures after documentation,” said Shahid.

Activists also demanded that all heritage buildings should be handed over to a trust formed on the lines of the Nation Heritage Trust in UK, with both NGOs and representatives of the government on board. “The trust would lease out properties as per prevailing rates. This would tackle the need for maintenance and make buildings self sufficient,” Shahid said.

Another leading architect said a clear heritage policy should be chalked out as the absence of one was leading to confusion. Worse, those in custody of government buildings were doing precious little to save them.

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